Gucci Mane is launching a new record company, So Icy Millionaire. On Thursday (July 4), the Atlanta rap pioneer announced that he would be signing one male and female artist for $1 million each.

“That’s what I’m willing to invest in my next superstar ‘cause I’m starting a whole new label,” he stated in a video shared on Instagram. “So, who [wants] to join my new label ‘cause I’m looking for my next male superstar.”

Keyshia Ka’oir, Gucci’s wife, matched his offer. “I got a million plus some extras that I’m still counting up for the next female artist,” she stated before taking a poke at their detractors with, “F**k y’all haters.”

Gucci’s announcement arrives in the wake of several former 1017 Records artists finding themselves behind bars. In 2021, Foogiano was sentenced to five years in prison after removing his ankle monitor, which had been given to him during probation in connection with a 2015 burglary conviction. Meanwhile, a judge handed Pooh Shiesty five years and three months after he pleaded guilty to federal conspiracy charges related to a 2020 shooting in South Florida.

Enchanting, who was also signed to the “I Get the Bag” rapper’s imprint at one point, passed away in June 2024. Ka’oir responded to critics commenting on her tragic death and the unfortunate demise of Gucci’s previous label: “Leave my husband alone! He signs these [artists] to help them and give them a better life! I wish it wasn’t like this! Chant, we love you, baby girl!” Notably, Enchanting’s death arrived less than two years after Memphis artist Big Scarr suffered a fatal drug overdose.

In 2023, Gucci released Breath of Fresh Air. The 24-song album included “There I Go” featuring J. Cole and Mike WiLL Made-It, “Bluffin” with Lil Baby, and the Kodak Black-assisted “King Snipe.” Additional contributions came from Key Glock, Young Dolph, DaBaby, 21 Savage, and Nardo Wick.

He followed the full-length project up with Choppers & Bricks, a joint effort with Hot Boys rapper B.G.