Cardi B spent $48,000 buying her daughter a Birken Bag with a rainbow and crystals carved into it.
Cardi B has an estimated net worth of 22 million currently, up from 8 million in 2018, giving her a wealth gain of 14 million in 3 years.
The median American household makes $68,000 a year.
$204,000 over 3 years.
Amusing thing on this is Cardi B spending $48,000 is the average household spending $444.
But here’s why this was a smart move for Cardi B.
Reason one-Birken Bags are a weirdly good investment.
Birken Bags came out in 1981 and have averaged a return on value of 6% a year every year since release.
Comparing that, the DOW has averaged 6.5% in that time.
Best part is unlike gold, stocks or real estate, birken bags have never actually had a losing year.
Reason Two : Press
Time
NY Times
TMZ
NY Post
Wall Street Journal
The actual press value of this gift and the conversation on it is pretty insane and something an advertiser would pay millions on.
Cardi B bought a handbag for a 3 year old and got more attention than Marvel’s new movie Shang Chi is getting.
This is important, because concerts are still relatively down with COVID and it keeps name ID up.
Reason Three-Merchandise potential
If Cardi B sold a knockoff version of that Birken Bag right now for $48, she’d likely in an hour be able to sell over $48,000.
Even the rainbow crystal design can be weirdly attached with other stuff.
Even doing a fast Google search, people are trying to sell knockoff’s of the bag right now for $200.
Final thoughts
Buying a 3 year old a $48,000 bag is sort of stupid, but it paid for itself in press and there’s been at least one average US family to buy a 3 year old a PS5 system which would cost more from perspective.