Lil Pump Receives $345,000 Advance From Warner Bros. Records for Debut Album: Report

Lil Pump
Rick Kern/WireImage

Lil Pump performs in concert at Emo's on Nov. 24, 2017 in Austin.

At only 17 years old, Lil Pump is making major money moves. After netting a top five single on the Billboard Hot 100 with "Gucci Gang," the South Florida rapper has reportedly landed a hefty advance check from Warner Bros. Records for $345,000, TMZ reports.

The five-album deal will reportedly enable Pump to retain 15 percent of his royalties from his debut album. He'll also be required to release at least 14 songs on each of his next five albums. For his fifth album, he can potentially make up to $500,000 if he continues to pump out hits, reports TMZ. To sweeten the deal, Pump received several kickers, including a percentage of money made off his merchandise.

Currently, Lil Pump's infectious record "Gucci Gang" sits at the No. 4 slot on the Billboard Hot 100. Billboard reached out to Warner Bros. Records for comment. 

 

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