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Music executive Mel Carter signed 2Rare for $800,000 at a Second Estate Label launch party before gifting him $250,000 in a Louis Vuitton bag filled with cash. Over a million dollars overnight.

Entrepreneur and A&R veteran, Mel Carter, entered a global joint venture with WarnerRecords after founding Second EstateRecords. With a focus on developing young talent, Second Estate’s first signing, Philadelphia rapper 2rare, saw success with the hit “Q-Pid” with Lil Durk.

Philly artist 2Rare holding $250k in cash at the Second Estate Launch Party (Photo courtesy of Calvin G)

Philly artist 2Rare holding $250k in cash at the Second Estate Launch Party (Photo courtesy of Calvin G)

The brand’s launch party was held on Saturday night at the Standard Hotel, EastVillage in New York. Guests enjoy free food, an open bar, and musical entertainment, Sounds of Reality. The packed event had a lot of support. Carter’s Bonjangle franchise business partner Coach K came to the event to support billionaire Mike Novogratz.

Mike Novogratz, Mel Carter and Coach K attend the Second Estate Launch Party (Photo Courtesy of Calvin G)

Mike Novogratz, Mel Carter and Coach K attend the Second Estate Launch Party (Photo Courtesy of Calvin G)

Under the terms of the agreement, WarnerRecords will provide a full range of marketing and distribution services for second Estate artists and recordings. Carter will also serve as an advisor to theA&R team for Warner Records’ extensive roster of artists, working closely with SteveCarless (A&R President) and Karen Kwak(EVP and Head of A&R).