Souljah Boy has been caught out there on numerous occasions bragging about his jewelry. In this brief MTV clip, the rap artist discusses just how much money he has invested into jewelry. He notes that he’s spent $3 million on his jewelry and even plugs gold as a great investment.
Jewelry seems to be the “investment” of choice for hip-hop artists. There’s nothing wrong with having a few pieces to serve as accessories, but we’re disappointed to hear an MTV interview perpetuate ignorance about finances. First of all, gold jewelry is not where investing is best. Gold jewelry only contains traces of gold in it, which is why if you try to pawn or sell your jewelry, you won’t be getting the amount that you paid for it. Gold itself is where one needs to invest. Sell it today or ten years from now, and the price is always the same. Souljah Boy did not make himself clear on whether he invests in gold or just gold jewelry. Secondly, diamonds depreciate. They are already overvalued, so investing in diamonds is a big mistake.
The moral to the story is this: MTV, stick to music discussions. Please keep education and financial topics far away from the interview. Otherwise, we’ll have a another generation of urban youths buying crappy jewelry in the name of investing. Souljah Boy, you’d better be wisely investing your money and diversifying your income. The spotlight will only be around for you for only so long.
Enjoyed this article?