Table of Contents
Executive Summary: The uicideboy Paradox – From a Suicide Pact to a $400 Million Valuation
The financial trajectory of New Orleans rap duo uicideboy presents a paradigm shift in how independent artists can achieve monumental commercial success in the modern music industry.
This report posits that their substantial net worth is the direct outcome of a meticulously constructed, vertically integrated business empire, built upon a foundation of radical authenticity and an unwavering fan-centric model.
The duo’s journey from underground SoundCloud artists, bound by a literal suicide pact, to the architects of an enterprise with a reported valuation exceeding $400 million, offers a compelling case study in brand building and asset monetization.1
The core of their financial success rests on three synergistic pillars: Recorded Music, Touring, and Merchandise.
Each pillar is not only highly profitable on its own but also serves to amplify the others.
Their recorded music, which has generated over 25 billion streams, fuels demand for live shows.2
These tours, which grossed over $56 million in 2024 alone, function as massive marketing events for their high-margin merchandise, a business unit that generated a reported $30 million in the same year.3
This self-sustaining ecosystem is controlled through their independent label, G59 Records.
A strategic partnership with distribution giant The Orchard provides G59 with the global reach of a major label while allowing the duo to retain creative control and, most critically, ownership of their assets.1
This ownership was the crucial prerequisite for the reported 2025 sale of their music catalog for a sum in excess of $400 million, a liquidity event that fundamentally defines their current net worth.1
Underlying this entire financial structure is an unquantifiable but essential asset: their authentic personal narrative of struggle and recovery, which has forged an intensely loyal fanbase and created a powerful economic moat around their brand.7
I. The G*59 Blueprint: Forging an Empire Outside the Mainstream
The financial success of uicideboy cannot be understood without first analyzing the foundational philosophy and strategic choices that predated their commercial peak.
Their early struggles and the business structure they created in response were not incidental; they were the necessary preconditions for their eventual valuation.
A. The “Do-or-Die” Pact: The Genesis of an Unrelenting Work Ethic
The formation of uicideboy in 2014 by cousins Scott Arceneaux Jr. ($crim) and Aristos Petrou (Ruby da Cherry) was an act of desperation born from profound dissatisfaction with their lives.8
Before forming the group, $crim had been selling drugs and DJing, while Ruby worked at his father’s restaurant.10
This shared sense of having no future led them to their now-infamous “suicide pact”: if their music career failed to take off by the time they were 30, they would both end their lives.10
This pact, while grim, served as a powerful forcing function for their business strategy.
It eliminated any “plan B” and instilled a relentless work ethic.
Unlike artists on a traditional 2-3 year album cycle, this self-imposed deadline compelled an extraordinary volume of musical output.
In their first few years, they flooded platforms like SoundCloud and Bandcamp with dozens of EPs, mixtapes, and sagas, resulting in hundreds of songs.9
This prolificacy was not merely artistic expression; it was, in effect, an aggressive strategy of intellectual property generation.
Each track released represented the creation of a new asset—the master recordings and publishing rights—that would form the bedrock of their eventual nine-figure valuation.
This initial, desperation-fueled output allowed them to build a massive, dedicated audience with virtually no marketing budget, proving their market viability long before engaging with the broader industry.12
B. G*59 Records: The Vehicle for Vertical Integration
Crucially, the duo established their own corporate entity, G*59 Records, at the outset of their career.10
The name itself, referencing the U.S. Route 59 that divides neighborhoods in their native New Orleans and the “grey” area mixing cultures, is a core part of their brand identity.11
Inspired by independent moguls like Master P and Cash Money Records, their initial philosophy was to be “entirely independent.
No record deals.
No CEO”.11
This decision to build a holding company for their activities before their assets were fully monetized was a masterstroke of business foresight.
G*59 Records became the central entity through which all music was released, all merchandise was designed and sold, and all tours were branded.14
This model of vertical integration ensured that all value generated from their various activities accrued directly to their own company.
It meant that when they eventually did partner with a larger entity for distribution, they were negotiating from a position of immense strength as a proven, self-contained business, not as unknown artists seeking a record deal.
This retention of 100% ownership of their masters was the single most important factor enabling the massive catalog sale that would later define their wealth.
II. Deconstructing the Revenue Engine: A Three-Pillar Analysis
The uicideboy financial empire is built on three primary, ongoing, and interconnected revenue streams.
A forensic analysis of each pillar reveals a sophisticated and highly efficient system for converting cultural relevance into cash flow.
A. Pillar 1: Recorded Music & Publishing
The foundation of the duo’s revenue is the immense global consumption of their Music. Their sound, often described as abrasive and non-commercial, has paradoxically become a mainstream streaming force.10
By 2022, they were among the Top 30 most-streamed artists across all genres, having generated over 15 billion career streams.16
By 2024, that number had climbed to an astonishing 25 billion.2
This success is validated by numerous RIAA certifications, including platinum status for “…And To Those I Love, Thanks for Sticking Around” and gold for multiple other tracks.17
This massive consumption directly translates into significant royalty payments.
A micro-level case study from the platform Royalty Exchange illustrates the value of their catalog: in early 2024, an investor paid $44,250 for a slice of performance royalties for a catalog including the song “Avalon”.13
This catalog had a three-year average earning of just $4,037, demonstrating the high multiples their consistent streaming performance can command.
The same catalog saw its earnings grow by 985% between 2019 and 2022, highlighting the rapid acceleration of their listenership and earning power.13
This proves that the streaming economy can reward niche, dedicated fanbases as much as, or even more than, broad, passive audiences, fundamentally changing the calculus of what is considered commercially viable.
B. Pillar 2: The Grey Day Juggernaut (Live Performance & Touring)
While streaming provides a consistent revenue base, live performances represent a massive source of gross income.
The duo’s “Grey Day Tour” has evolved from club dates into a major arena and amphitheater-level enterprise.
Data from Pollstar Boxoffice provides a clear picture of this growth.
In 2021, a large show at an event center grossed approximately $748,000.19
By 2024, the tour had become a juggernaut, grossing a total of
$56,694,497 and selling 521,165 tickets across 50 shows.4
This equates to an average gross of over
$1.13 million per show.
This level of performance places them among the financial elite of live Music. The Grey Day Tour ranked #3 on Billboard’s highest-grossing rap tours of 2024 and has helped position uicideboy as one of the Top 20 highest-grossing hip-hop touring acts of all time.2
The tour itself is a branded G
59 entity, strategically used to promote other artists on their label, such as Night Lovell, Germ, and Shakewell, thereby increasing the value and cultural footprint of the entire G59 ecosystem.14
| Year | Tour Name | Total Gross Revenue | Total Tickets Sold | Number of Shows | Average Gross Per Show |
| 2021 | North American Tour | ~$748,120 (single show) | 12,000 (single show) | N/A | N/A |
| 2024 | Grey Day Tour | $56,694,497 | 521,165 | 50 | $1,133,890 |
Table 1: This table illustrates the significant growth in the touring revenue of uicideboy, based on data reported by Pollstar.4
C. Pillar 3: Direct-to-Fan Commerce (The Merchandise Machine)
Perhaps the most underestimated pillar of their empire is merchandise.
In 2024, it was reported that the duo generated $30 million from merchandise sales alone.3
This figure suggests that merchandise is not an ancillary income source but a core business unit with profitability that may rival or even exceed that of their touring operations.
Unlike streaming revenue, which is split with platforms and distributors, or touring revenue, which has high overhead costs (venue fees, production, crew), direct-to-fan merchandise sold through their official G59RecordsMerchandise.com store has exceptionally high profit margins.15
The store features a wide array of products, from $36 t-shirts to $98 track jackets, with items frequently listed as “Sold Out,” indicating a sophisticated strategy of creating demand through scarcity.
This direct-to-fan model implies a robust e-commerce operation focused on design, supply chain management, and marketing.
The vast ecosystem of unofficial merchandise on platforms like Etsy and eBay, while not directly profitable for the duo, further demonstrates the immense cultural penetration of their brand and serves as a form of free marketing for their official intellectual property.21
III. The Crown Jewel Asset: Analysis of the Reported $400M+ Music Catalog Sale
In March 2025, reports from credible industry sources like Music Business Worldwide and Billboard signaled a pivotal event in the duo’s financial history: the shopping of their complete recorded masters and music publishing catalogs.1
This transaction represents the financial crystallization of their entire career, converting a decade of intellectual property creation into a massive liquidity event.
The reported valuations were staggering.
The recorded music masters portfolio was being offered for over $300 million.1
Separately, the publishing catalog was expected to command a price of around
$100 million.1
This publishing valuation was reportedly based on an annual Net Publisher’s Share (NPS) of approximately $5 million, implying a remarkable 20x multiple.
Such a high multiple is a clear indicator of the financial market’s confidence in the longevity and durability of their music’s earning potential.
The seriousness of the deal was underscored by the parties involved.
The rumored front-runner to acquire the publishing rights was HarbourView, a major fund backed by private equity giant KKR, specializing in music asset acquisition.1
The sale was being handled by Tim Mandelbaum of the top-tier law firm Fox Rothschild, confirming the professional and high-stakes nature of the transaction.1
This sale is the ultimate payoff for their early strategic decision to retain 100% ownership of their work through G*59 Records.
Had they signed a traditional record deal, the label would own the masters, and this nine-figure sum would not be theirs to claim.
| Asset Type | Reported Valuation | Estimated Annual Revenue | Implied Multiple |
| Recorded Masters | >$300,000,000 | N/A | N/A |
| Music Publishing | ~$100,000,000 | ~$5,000,000 (NPS) | ~20x |
| Total | ~$400,000,000+ |
Table 2: This table provides a breakdown of the reported 2025 music catalog sale valuation, based on figures from Music Business Worldwide.1
IV. G*59 Records: An Independent Label Valuation
Beyond the value of the founders’ own music, G*59 Records is a functioning business with its own assets and strategic value.
The label’s worth is derived from its strategic partnerships and its growing roster of artists.
A. The Orchard Partnership: Major Muscle, Indie Soul
In 2021, G59 entered into a distribution and services partnership with The Orchard, a subsidiary of Sony Music.1
This was not a standard distribution deal; it reportedly involved a
“strong eight-figure” investment from The Orchard directly into G59.1
In essence, G*59 was paid for its business, a testament to the value they had already built independently.
This partnership gave G*59 access to a global marketing and distribution machine while allowing them to maintain creative control.
The results were immediate and impactful.
The Orchard executed a sophisticated campaign for a recent album release that included targeted digital advertising, out-of-home billboards in major cities, and college marketing representative activations.5
This support propelled the album to high chart debuts around the world, including #5 on the Billboard 200 in the U.S., #6 in Australia, and #14 in Germany—a level of global penetration nearly impossible for a completely independent operation.5
B. The Artist Roster as an Asset
G*59 Records is also a home for a curated roster of talent that aligns with the brand’s ethos.
As the owners of the label, uicideboy hold a stake in the master recordings and revenue streams of these other artists.
The label’s success and brand recognition make it a valuable asset in its own right, drawing comparisons to influential independent labels of the past, like Death Row Records, which at its peak generated over $100 million annually.24
| Artist Name | Role | Notable Collaborations with uicideboy |
| Ramirez | Signed Artist | “Sarcophagus III,” “Be a Witness” |
| Germ | Signed Artist | “My Swisher Sweet, But My Sig Sauer,” “Shameless $uicide” |
| Night Lovell | Signed Artist | “Carried Away” |
| Shakewell | Signed Artist | “Big Shot Cream Soda,” “Shameless $uicide” |
| Chetta | Signed Artist | Frequently appears on G*59 compilation projects |
| BONES | Affiliate | “Now and at the Hour of Our Death” |
| Pouya | Affiliate | “Runnin’ Thru the 7th with My Woadies” |
Table 3: A non-exhaustive list of key artists and affiliates signed to or closely associated with G59 Records, demonstrating the label’s talent assets.20
*
V. Financial Synthesis: Estimated Net Worth of uicideboy (2025)
Synthesizing the available financial data provides a framework for estimating the collective and individual net worth of $crim and Ruby da Cherry.
The methodology begins with the transformative liquidity event of the catalog sale and incorporates conservative estimates for ongoing operational profits.
The primary component is the net proceeds from the reported ~$400 million catalog sale.
Such a transaction typically involves significant deductions.
Legal and agent fees for a deal of this magnitude can range from 10-15%.
Furthermore, the proceeds would be subject to high federal and state capital gains taxes.
A conservative blended deduction rate of 45% is applied for this estimation.
In addition to this one-time event, the duo continues to generate substantial income from their two other main pillars: touring and merchandise.
Using 2024 figures as a baseline, their combined annual gross revenue from these streams is approximately $86.7 million ($56.7 million from touring and $30 million from merchandise).3
Applying a blended net profit margin of 25% (accounting for high touring overhead and high merchandise margins) yields an estimated annual net profit of over $21 million from ongoing operations.
By combining the net, after-tax proceeds from the catalog sale with a conservative estimate of their accumulated wealth from operational profits, a net worth range can be established.
| Financial Component | Low Estimate | High Estimate |
| Assets | ||
| Net Proceeds from Catalog Sale (Post-Tax/Fees) | $200,000,000 | $240,000,000 |
| Value of G*59 Records (Ongoing Entity & Roster) | $20,000,000 | $40,000,000 |
| Accumulated Operational Profit & Other Assets | $15,000,000 | $25,000,000 |
| Liabilities | ($5,000,000) | ($10,000,000) |
| Total Net Worth (Collective) | $230,000,000 | $295,000,000 |
| Individual Net Worth ($crim) | $115,000,000 | $147,500,000 |
| Individual Net Worth (Ruby da Cherry) | $115,000,000 | $147,500,000 |
Table 4: A consolidated net worth estimation for uicideboy as of Q3 2025.
This model is based on reported revenue, standard industry deductions, and conservative estimates for the value of their ongoing business operations.
VI. The Authenticity Moat: The Unquantifiable Asset Driving Sustainable Growth
While the numbers are staggering, a purely quantitative analysis is insufficient to explain the uicideboy phenomenon.
The ultimate driver of their financial empire is an unquantifiable asset: the deep, symbiotic relationship they have cultivated with their fanbase.
Their willingness to openly discuss their personal battles with depression, substance abuse, and recovery in their music and public appearances has created a powerful economic moat of fan loyalty that is exceptionally difficult for other artists to replicate.7
This is not simply a marketing tactic; it is the core of their brand.
Fan testimonials on social media platforms are filled with comments about how the duo’s journey and sobriety have inspired them personally, with some crediting the music with saving their lives.7
This transforms the artist-fan dynamic from one of simple consumption to one of shared survival and mutual support.
The evolution of their message from early “shock value” to a more mature platform for mental health advocacy, exemplified by $crim’s on-stage speeches about sobriety, has only deepened this bond.7
This intense loyalty has direct financial consequences.
It is the reason their merchandise drops sell out almost instantly, why they can sell over half a million tickets for a single tour, and why their back catalog continues to generate billions of streams years after its release.2
This brand loyalty de-risks their future projects and makes their catalog a stable, predictable, and therefore highly valuable asset for institutional investors.
Ultimately, the uicideboy business model can be viewed as a closed-loop, self-reinforcing system.
The duo’s authentic vulnerability is the primary input, which forges an intensely loyal community.
This community’s devotion is then converted into commercial value through high-margin merchandise, high-grossing tours, and consistent streaming.
The financial success and platform this provides allows them to continue making their art and sharing their story, which in turn strengthens the fan connection and restarts the virtuous cycle.
This feedback loop is the perpetual engine of their independent empire.
Works cited
- Who’s about to buy Suicideboys’ music publishing catalog ? – Music Business Worldwide, accessed on August 6, 2025, https://www.musicbusinessworldwide.com/whos-buy-suicideboys-lucrative-music-publishing-catalog/
- $UICIDEBOY$ ANNOUNCE GREY DAY TOUR 2025 – BMO Stadium, accessed on August 6, 2025, https://bmostadium.com/news/uicideboy-announce-grey-day-tour-2025/
- Billboard Magazine Covers $uicideboy$ Road to Recovery, accessed on August 6, 2025, https://www.offbeat.com/news/billboard-magazine-covers-uicideboy-road-to-recovery/
- $uicideboy$ Unveil Dates For ‘Grey Day Tour 2025’ – Pollstar News, accessed on August 6, 2025, https://news.pollstar.com/2025/04/03/uicideboy-unveil-dates-for-grey-day-tour-2025/
- $UICIDEBOY$ – The Orchard / G59 – Music Ally Pro, accessed on August 6, 2025, https://pro.musically.com/uicideboy-the-orchard-g59/
- Who’s about to buy Suicideboys’ lucrative music publishing catalog ? – The AMP | New York, accessed on August 6, 2025, https://theamp.nyc/whos-about-to-buy-suicideboys-lucrative-music-publishing-catalog/
- $uicideboy$’ Scrim: Sobriety and Fan Connections | TikTok, accessed on August 6, 2025, https://www.tiktok.com/@billboard/video/7528502650413911326
- Ruby Suicideboys – Unpacking Their Sound And Story – Redefining Luxury Living, accessed on August 6, 2025, https://franchising.imhungry.sa/discoverpremium523/ruby-suicideboys/
- $uicideboy$ – The Factory, accessed on August 6, 2025, https://www.thefactorystl.com/artist/uicideboy/
- Suicideboys – Wikipedia, accessed on August 6, 2025, https://en.wikipedia.org/wiki/Suicideboys
- you dont understand suicideboys – Medium, accessed on August 6, 2025, https://medium.com/@zaquest/you-dont-understand-uicideboy-b3690d9a0d17
- How did Suicideboys get so big? : r/musicmarketing – Reddit, accessed on August 6, 2025, https://www.reddit.com/r/musicmarketing/comments/14ht6qz/how_did_suicideboys_get_so_big/
- Discover Profitable Music Investments: $UICIDEBOY$ Case Study …, accessed on August 6, 2025, https://www.royaltyexchange.com/blog/discover-profitable-music-investments-uicideboy-case-study
- $uicideboy$ | Fiserv Forum, accessed on August 6, 2025, https://www.fiservforum.com/events/detail/sb
- ALL – g59recordsmerchandise.com, accessed on August 6, 2025, https://www.g59recordsmerchandise.com/collections/all
- $uicideboy$ | Collaborator Analytics – Songstats, accessed on August 6, 2025, https://songstats.com/artist/7mk3ebv5/uicideboy
- Exclusive Booking Agency for $UICIDEBOY$ – Wasserman Music, accessed on August 6, 2025, https://www.teamwass.com/music/suicideboys/
- $uicideboy$ – Grey Day 2024 North American Tour – Bridgestone Arena, accessed on August 6, 2025, https://www.bridgestonearena.com/events/detail/uicideboy-grey-day-tour-2024
- $uicideboy$ Unveil Summer Tour Dates – Pollstar News, accessed on August 6, 2025, https://news.pollstar.com/2022/06/09/uicideboy-unveil-summer-tour-dates/
- $UICIDEBOY$ Tickets, 2025-2026 Concert Tour Dates | Ticketmaster, accessed on August 6, 2025, https://www.ticketmaster.com/uicideboy-tickets/artist/2194218
- Suicideboys Merch – Etsy, accessed on August 6, 2025, https://www.etsy.com/market/suicideboys_merch
- Suicideboys Merch – eBay, accessed on August 6, 2025, https://www.ebay.com/shop/suicideboys-merch?_nkw=suicideboys+merch
- $uicideBoy$ Recorded Masters and Music Publishing Catalogs Up for Sale, accessed on August 6, 2025, https://www.foxrothschild.com/news/uicideboy-recorded-masters-and-music-publishing-catalogs-up-for-sale
- Death Row Records – Wikipedia, accessed on August 6, 2025, https://en.wikipedia.org/wiki/Death_Row_Records
- G – 59 Records – Rap & Hip Hop Wiki – Fandom | PDF – Scribd, accessed on August 6, 2025, https://www.scribd.com/document/677483123/G-59-Records-Rap-Hip-Hop-Wiki-Fandom
- Shakewell / HAARPER | Showbox Presents, accessed on August 6, 2025, https://www.showboxpresents.com/events/detail/1018981
- $uicideboy$ | This Past Weekend w/ Theo Von #511 – YouTube, accessed on August 6, 2025, https://www.youtube.com/watch?v=esE635f-au8
- $uicideboy$ talk about their dark vibe – YouTube, accessed on August 6, 2025, https://www.youtube.com/shorts/CR9WkCgEWZw
