Chief Keef Can't Touch His $6 Million Till He Turns 18

17 year old rapper, Chief Keef started popping last year when his "I Don't Like" song went viral online. And Kanye also helped the kid a little, by making a remix of "I Don't Like", and placing it in G.O.O.D Music's Cruel Summer album. Keef got signed to Interscope Records last year, but no one really knew the details of the contract. But, not any more.



Check out the revealing info below-

Chief Keef may be "Finally Rich" -- as the title of his first album proclaims -- but the teenage rap star won't be able to spend most of his big-money pay check until he turns 18 in August, DNAinfo.com has learned. Chief Keef signed a three-album contract -- and a separate deal to control his own record label -- with Interscope Records that could pay the South Side gangster rapper more than $6 million over three years. A split of future royalties could make for an even bigger pay day, according to court papers. The terms of Chief Keef's record deal were made public in a Cook County chancery court filing that seeks a judge's approval for the rapper to finalize agreements with Interscope. Court approval of the contracts is required by law because Chief Keef, 17, is a minor. (DNA Info)


Interesting.I think he got a good deal. Keep reading...

Chief Keef -- who is currently locked up in juvenile detention for 60 days -- also received at least $300,000 to cover the cost of recording "Finally Rich," which sold 50,000 copies during the first week it was released in December. Chief Keef's deals all depend on album sales. If "Finally Rich" doesn't sell at least 250,000 albums by December 2013, Interscope has the right to pull the plug on subsequent album releases -- two albums and a compilation of hits, according to the deal. In a separate three-year deal to establish Chief Keef's record label "Glory Boyz Entertainment" -- GBE for short -- Interscope Records forked over another $440,000 advance. That agreement calls for both Chief Keef and his manager, Rovan Manuel, to each be paid $180,000. The deal calls for 15-percent of Chief Keef's advance to be put in his trust fund, according to court papers. (DNA Info)