Hip hop label Illionaire Records has officially closed after 10 years of operation.
On July 6, the label announced through social media, “Illionaire Records has completed our long 10-year journey, and our artists will each be beginning their own respective journeys. Thank you for your continuous support throughout the years, and we ask for your support for our artists as they set out on their new paths. Thank you once again.”
Illionaire Records’ 10 years journey has been closed. Thank you so much for the love and support. pic.twitter.com/pgcXRPkChd
— ILLIONAIRE RECORDS (@1LLIONAIRE) July 6, 2020
After the announcement, The Quiett, a co-founder of the label, wrote on his social media account, “Thanks for everything!” Numerous hip hop artists, including BewhY, Palo Alto, Hangzoo, Jay Park, and more also left comments showing their support for the artists previously under Illionaire Records.
Illionaire Records was first established in 2011 by Dok2 and The Quiett. Other artists under the label included rapper Beenzino, and rappers Changmo, Keem Hyoeun, and Hash Swan were signed under Illionaire Records’s additional label Ambition Musik.
The decision to close operations followed after Dok2, one of the co-founders, left the label in February this year. In addition, Beenzino announced on July 2 through a live broadcast on his Instagram account that he would be parting ways with Illionaire Records, citing a desire to find a new environment in which he could grow as a musician. He explained, “I think I want to meet new music partners. I’ve stayed in a comfortable place for too long.”
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