Nas, Steve Stoute, Ben Horowitz, and more have all come together with the Paid In Full Foundation to provide $500,000 to under-recognized artists in hip-hop. They are putting on the first-ever Hip Hop Grandmaster Awards and will give away 100% of the event’s proceeds to this end. They plan to honor Rakim and Scarface with the awards.
“Over the past several decades, Hip Hop music and culture rose from a local niche New York art form into a global phenomenon,” a statement on the Paid in Full Foundation’s website says. “In doing so, it has created countless careers, many fortunes, and, most importantly, gave hope and aspiration to a generation of young people.”
He added, “No one’s ever done this before. No one’s given the people who’ve helped move this industry forward reparations of some sort for what they’ve done but didn’t get back.”