Nationwide — Rapper Master P says Rap Snacks is considering going public as the brand looks for ways to expand Black ownership and create more opportunities for communities to build wealth.
He pointed to George Crum, an African American cook and restaurateur credited with creating the potato chip in New York. According to AfroTech, Master P said Crum’s story shows why ownership matters, noting that the inventor did not own the industry that grew from his creation.
Rap Snacks has since grown into a national brand, with its products sold in 40 cities and major retailers such as Walmart, Kroger, Sam’s Club and Target. Master P said staying on store shelves takes long-term stability and continued growth.
Now, the company is looking at taking its next major step by becoming publicly traded. Master P told Forbes that Rap Snacks has not made a final decision, but he sees going public as a way to bring more people into the company’s success.
He said that allowing people in local communities to invest in Rap Snacks could give them a chance to earn money as the company grows. Master P believes that shared ownership could help address the wealth gap.
He also pointed to the small number of African American-owned companies among Fortune 500 businesses. He said Rap Snacks wants to help change that by creating more opportunities for Black people to own and invest in successful companies.