Being a parent is one of the most important roles people can take on—it’s also one of the most expensive. Nick Cannon, a father of 11, recently shared exactly how much it takes to care for his growing brood.
“When you think about my lifestyle, I have to generate at least $100 million a year,” Cannon said during an interview with Los Angeles Times,
The multi-hyphenate holds many jobs, including a hosting gig with the “The Masked Singer,” and partial ownership of MTV golden child Wild ‘N Out, which debuted in 2005 and is still wildly popular.
“I’ve turned ‘Wild ‘N Out’ into a billion-dollar business, and that’s only because of the entrepreneurial efforts that we put forward,” Cannon said in a previous interview with Afrotech. “There were many times when people didn’t believe me from the beginning. I ‘Wild ‘N Out’ on my own because MTV didn’t understand it or know what it was. Therefore, I kept the ownership for years until the big boy came around, and I had to charge them double for the bag.”
He added, “We built this, and now we’re doing restaurants. I am opening up a Wild ‘N Out Sports Bar; it would be our second one. Now we’re doing the true flagship one in my hometown of San Diego that opens this month. We also have brick-and-mortar ‘Wild ‘N Out,’ and the next one is going to be in Harlem.”
Although successful, it’s unsurprising if he feels pressure to provide as he continues to father children across multiple households. On average, a person will use about 1/4 of their income per child over the course of their formative years.
“Nick’s success and what he’s generated don’t match up to where the industry places him, and I think that’s what inspires and motivates him every day,” Goldman said, according to the Los Angeles Times.