Lil Yachty's Net Worth (Updated 2023) | Inspirationfeed (2024)

Miles Parks McCollum, more popularly known by his stage name Lil Yachty, is an American rapper and hip hop recording artist from Atlanta, Georgia.

Yachty gained initial fame on the internet in 2015 for his single “One Night.” His other track, “Minnesota” (ft. Quavo, Young Thug, and Skippa Da Flippa), also went viral on the internet around the same period.

Lil Yachty released his debut mixtape, titled Lil Boat, in March 2016. He subsequently released his first studio album the following year, titled Teenage Emotions.

Yachty has since followed up with three more studio albums. They include Lil Boat 2 (2018), Nuthin’ 2 Prove (2018), and Lil Boat 3 (2020).

Miles Parks McCollum was born on August 23, 1997, in Mableton, Georgia, United States, to Shannon McCollum and Venita McCollum. His parents divorced when he was about 8 years and he mostly lived with his single mother.

McCollum attended Pebblebrook High School and later Alabama State University. However, he dropped out of college to pursue his musical career.

After dropping out of Alabama State University, Miles McCollum adopted the name Yachty and moved to New York City to launch is music career.

Lil Yachty first rose to prominence on the internet in December 2015 after a comedy video using the SoundCloud version of his song “One Night” went viral.

In March 2015, Yachty released his debut mixtape, titled Lil Boat. One month later, he collaborated with DRAM in releasing the smash hit “Broccoli.” The song peaked at #5 on the Billboard Hot 100.

On June 10, 2016, Lil Yachty announced that he had inked a joint record deal with Capital Records, Motown Records, and Quality Control Music. He released his second mixtape, Summer Songs 2, the same month. Yachty went on to collaborate with several artists over the next couple of months, including Tee Grizzley and Kyle.

Lil Yachty released his debut studio album, Teenage Emotions, on May 26, 2017. He followed up with his second studio album, Lil Boat 2, on March 9, 2018. The album debuted at #2 on the US Billboard 200 and sold 64,000 album-equivalent units.

Yachty has two more studio albums to his name. They include Nuthin’ 2 Prove (October 19, 2018) and Lil Boat 3 (March 9, 2020). ‘Nuthin’ 2 Prove’ debuted at #12 on the US Billboard 200, whereas ‘Lil Boat 3’ debuted at #14 on the Billboard 200.

As of 2023, Lil Yachty had a net worth of $10 million. The Atlanta-born hip hop artist has earned much of his wealth from the music industry. Although his studio albums received mixed reactions, they all registered tremendous commercial success.

But Lil Yachty’s music-related earnings don’t only come from direct album and record sales. The rapper has also collaborated with scores of other renowned artists. Besides, Yachty has performed in several prestigious events.

Outside of the music industry, Lil Yachty earns from endorsem*nt deals. Yachty has starred in multiple high-profile television commercials, including a 2017 Sprite commercial where he appeared alongside LeBron James.

1. It’s okay to start small

After leaving college, Lil Yachty moved from his hometown of Atlanta to New York City to formally launch his music career. However, his career didn’t take off immediately. Yachty initially struggled to land record deals. At some point, he worked at McDonald’s to supplement his income.

2. Follow your dreams

Yachty is among the many successful rappers who quit school to focus on music. He was probably ridiculed for abandoning his studies then. But his decision ultimately paid off.

3. Collaborate with likeminded partners

Lil Yachty owes his success partly to his hard work and partly to his willingness to collaborate with other artists. Examples of renowned rappers Yachty has partnered with include Offset, Quavo, 2 Chainz, Migos, Diplo, and Kyle.