Music Executive Mel Carter signs 2Rare for $800k on the spot at the Second Estate Records Launch Party before gifting him $250k in a Louis Vuitton bag full of cash. Over $1 million in one night.

Mel Carter hands rapper 2Rare $250k in cash

Photo: Calvin G

“There’s a lot of police here so don’t try nothin’ funny,” Carter said jokingly to the crowd.

A&R veteran and entrepreneur Mel Carter, has entered into a worldwide joint venture with Warner Records after creating Second Estate Records. With a focus on developing young talent, Second Estate’s first signing, breakout Philadelphia rapper 2rare, has already seen success thanks to his viral hit “Q-Pid” featuring Lil Durk.

Philly artist 2Rare holding $250k in cash at the Second Estate Launch Party 

Photo: Calvin G

The launch party for the label was held at the Standard Hotel, East Village in New York on Saturday evening. Guests enjoyed complimentary food, an open bar, and music entertainment by Sounds of Reality. The packed-out event had a lot of support. Carter’s Bonjangle’s franchise business partner Coach K came out to the event to support along with billionaire Mike Novogratz.

Mike Novogratz, Mel Carter and Coach K attend the Second Estate Launch Party

Under the terms of the deal, Warner Records will provide the full spectrum of marketing and distribution services for Second Estate’s artists and recordings. Carter will also serve as a consultant to the A&R team for Warner Records’ wide-ranging artist roster, working closely with Steve Carless (President of A&R) and Karen Kwak (EVP and Head of A&R).

For more on Mel Carter, make sure to follow him on Instagram @MelCarter