Soulja Boy has been bragging on social media that he just inked a $400 million endorsement deal with World Poker Fund Holdings.
The Atlanta rapper first broke the news on his Twitter page that he just signed a deal worth $400 million. “$400 million deal confirmed. I still they think they low balled me though. I was thinking 2 or 3 billion,” he tweeted.
$400 million deal confirmed. I still they think they low balled me though. I was thinking 2 or 3 billion..
— Soulja Boy (Young Drako) ??? (@souljaboy) May 1, 2016
The deal is reportedly a 5-year endorsement that will guarantee him $80 million per year.
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World Poker spokesman Matthew Bird also confirmed the deal with Soulja Boy saying, “We no longer are fed content from major news networks—we seek it out and consume it by individual influencers that enrich our lifestyles,” said Bird. “Soulja Boy represents the best of the best and we are already seeing the impact from his presence.”
Bird also confirmed that the deal does not exactly worth $400 million but closer to $51.8 million.
“He really kind of jumped the gun” by using the $400 million figure, World Poker Fund spokesperson Matthew Bird told Forbes. “The deal is capped at $400 million, and it’s based on a forward-thinking valuation of the company. He’s young, he’s 25 years old. He got really excited, and he tweeted something he probably shouldn’t have tweeted. He was getting a lot of pressure from within the entertainment community, so he wanted to put a statement out. Obviously, the company’s market cap is at $51.8 million. There’s no way they could cut a $400 million deal. Endorsement deals are calculated on a lot of different factors. This is not a fully cash transaction.”
One thing I can say though is shoutout to Beyonce the queen for sure ????? #Lemonade #HoldUp
— Soulja Boy (Young Drako) ??? (@souljaboy) May 1, 2016
Soulja Boy also confirmed that he has a new partnership with FilmOn shortly after Beyonce sampled his 2008 hit single “Turn My Swag On” for her LEMONADE single “Hold Up.”
