The battle of the ages is going down on October 25, 2025, at ComplexCon in Las Vegas. It’s West Coast vs. Southside when Cash Money Records and No Limit Records bring the heat in the latest iconic Verzuz battle.
In the left corner, we have Cash Money Records. Founded in 1991 by brothers Bryan “Birdman” Williams and Ronald “Slim” Williams. The New Orleans-based label brought an energy and sound to the rap game unlike what anyone else was doing. What started as a local hustle quickly evolved into one of the most successful independent to major label stories in music history.
In the early 1990s, Cash Money Records created its identity with raw Southern storytelling and heavy bass production from Mannie Fresh, the in-house producer who would become the backbone of the label’s early sound. The signing of artists B.G., Juvenile, Lil Wayne, and Turk formed the legendary group Hot Boys.
Cash Money’s breakthrough moment came in 1998 with Juvenile’s 400 Degreez. The record’s success led to a landmark $30 million distribution deal with Universal Records, allowing Birdman and Slim to retain ownership of their masters. This was a bold move that would later become a blueprint for artist independence in the digital era.
In 1999, Lil Wayne, who became the face of the label, dropped his debut album, The Block Is Hot, at the age of 17. The album was certified platinum, and he quickly became a global superstar. He went on to release the Tha Carter series, which spun several other platinum hits, including “Fireman,” “Go DJ,” “How To Love,” and “Lollipop,” which went Diamond (10x Platinum).
With all of Lil Wayne’s success, he learned the business side of the music industry, and Cash Money introduced the next generation of icons, Drake and Nicki Minaj, both under Lil Wayne’s Young Money imprint. Their success transformed Cash Money from a regional powerhouse to a worldwide movement.
Beyond the hits, what made Cash Money legendary was its business mindset. Birdman and Slim built an empire. They proved that you didn’t have to come from big cities like New York or L.A. to become a success and make a difference.
Over three decades later, Cash Money Records remains one of the most influential brands in music history. Its artists have sold over 150 million records, earned countless awards, and inspired a generation of rappers and entrepreneurs..
Now that we’ve covered Cash Money Records, in the right corner, we have No Limit Records.
Before hip-hop moguls were household names, there was No Limit Records. Founded in 1991 by Percy “Master P” Miller, No Limit changed how hip-hop handled business, marketing, and self-made success.
Formed in Richmond, California, No Limit Records started as a small record store called No Limit Records Shop in 1990. Shortly after it evolved into No Limit Records. Master P funded the business venture with $10,000 he received from a malpractice lawsuit over his grandfather’s death. He used the store to distribute his music. He began pressing CDs, selling them out of car trunks, and building a fan base by hitting the streets. His business sense and relentless work ethic turned No Limit into one of the most profitable and respected labels in hip-hop history.
In 1995, No Limit Records relocated to the city where Master P was born. Ironically, that city is New Orleans. Now, two powerhouse labels were dominating the music industry. No Limit Records brought a new sound led by in-house producers Beats By The Pound. Artists like Silkk the Shocker, Mystikal, C-Murder, Fiend, Mia X, and Snoop Dogg (after his Death Row departure) helped make No Limit Records unstoppable.
At its peak, No Limit was releasing albums several times a month. In 1998, they even dropped a total of 23 albums featuring the label’s now-iconic Pen & Pixel album covers. The cover art for all albums featured the signature gold tanks, diamonds, and fire. It was bold, flashy, and instantly recognizable. What some critics called “oversaturation,” fans saw as consistency and dominance.
Master P’s empire expanded into film, sports, fashion, and real estate, making him one of hip-hop’s first self-made millionaires. His 80/20 distribution deal with Priority Records allowed No Limit Records to keep 80% of its profits, which was unheard of at the time and became a model for others to follow.
Unfortunately, in 2003, No Limit Records shut its doors, filed for bankruptcy, and the entire catalog was sold to EMI. Master P continued to operate under the name No Limit Forever Records, but it did not reach the same success as No Limit Records.
That’s the backstory of the two giants that are scheduled to collide.
The Cash Money Records vs No Limit Records Verzuz Battle will be an epic event. When all is said and done and the lights go down, the clear winner will be the fans. For some of the most talented rappers who laid the foundation for today’s artists to come together and bring us the hits that transformed the music industry is amazing. We are about to experience a momentous event and take a walk down memory lane.
Fans can watch the Cash Money Records vs No Limit Records Verzuz Battle, Saturday, October 25, on Apple Music, Apple TV, VerzuzTV, and on the Complex Instagram account. The live stream starts at 5 PM PT / 7 PM CT / 8 PM ET from ComplexCon Las Vegas.