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As Raphy Pina receives his prison sentence this May, we look at how his significant net worth will be impacted by the jail time.
On 24 May 2022, it was reported by Billboard that music exec Raphy Pina had been sentenced to three years in prison for “illegal possession of firearms.”
Exploring Raphy Pina’s significant net worth
Raphy Pina, 43, is the founder of Pina Records and the manager of notable artists such as Daddy Yankee and Natti Natasha.
Pina’s career in the music industry has brought him significant wealth over the past three decades. He learned from his own father, who also reportedly owned a record label in Puerto Rico. Outside of his successful career as a music exec, Pina has also ventured into other businesses which have brought him financial success. Pina owns a number of gas stations in Puerto Rico, as well as car and truck dealerships.
One report states that Raphy Pina’s net worth is $10 million as of 2022. Others estimate that his net worth is between $5-8 million.
Considering that Pina Records’ YouTube channel could make between $1.67-3 million every month, it comes as no surprise that Raphy Pina’s personal net worth is into the multiple millions.
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A look at Raphy Pina’s prison sentence
Back in December 2020, Raphy Pina was convicted by a jury of one count of possession of an automatic weapon and one count of possession of firearms by a convicted felon.
This month sees Raphy Pina sentenced to 41 months, about three years and five months, in jail. He was also ordered by a judge to pay a $150,000 sanction for the illegal possession of firearms.
Pina is to serve his sentence in Florida, after which he will be supervised for three more years. Judge Francisco A. Besosa denied bail pending appeal.
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How will his net worth be impacted?
Prisoners do not have the ability to keep their job while serving time, meaning they don’t receive their usual salary when in jail. However, for those such as Raphy Pina, the situation is slightly different.
As Raphy Pina is the owner of Pina Records, it is unlikely that his prison sentence will affect his employment. That isn’t to say that his net worth won’t be impacted by the stint in jail.
With the $150,000 sanction taking a chunk out of Pina’s earnings, he also will not be making money throughout his sentence. With the 41 month sentence in place, Pina should be out of jail by October 2025. It is likely that his net worth won’t be massively impacted by the sentence. Looking at other figures in the music industry who have been incarcerated, such as ASAP Rocky, their net worths have not be affected by jail time. ASAP Rocky’s net worth prior to his sentence was reported as $6 million; it has since grown to $10 million.
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