For Rick Ross, Richer Than I Ever Been is not just the title of his upcoming 11th studio album, nor a testament to his growing economic empire. Fifteen years after releasing his debut project, Port of Miami, and some 20-odd business partnerships later, the 45-year-old rap star says he feels the most fulfilled in his life and career than ever before.

Whether he's setting up his children for their own financial success or finding the joy in mowing his 235-acre Georgia lawn, Rozay is fully enjoying the fruits of his two decades' worth of labor.

"This is when I feel the richest," he told GRAMMY.com about spending time with his family and discovering what matters most to him. "Because usually those are the moments that feed all my creations."

Though Ross often makes headlines for his entrepreneurial ventures (which range from Wingstop, to Rap Snacks, to, most recently, his own line of hemp rolling papers), music is still his number-one motivator. The South Florida native announced the release date for Richer Than I Ever Been on the jumbotron at a Miami Heat game and followed up the news with the album's cover art that features Ross in crisp white gloves with an enormous gold pinky ring and diamond-encrusted brooch — an image he says "just felt godly."

Style and luxury have always been major parts of the hip-hop mogul's brand, but it's his hustle that's kept him in the game. He'll discuss his career and dive deeper into Richer Than I Ever Been during "A Conversation With Rick Ross," presented by the GRAMMY Museum and Culture Impact Agency and hosted by Billboard Hip-Hop Editor Carl Lamarre. After the sold-out event takes place on Dec. 8, fans can watch a recording of the event on COLLECTION:live

Ahead of Ross' latest release, GRAMMY.com spoke with the icon about making music with longevity, inspiring the next generation and more.

Back in September, you said you feel Richer Than I Ever Been is your best album yet. What stands out about this album the most?

As artists, we have personal goals when we're putting together a body of work. And for me, coming into my 11th album, the focus has shifted a little bit. It's more personal. My recording sessions were that much tighter.

I actually sat in the studio a few nights by myself, and one thing that kept coming back to me was making sure the music felt timeless. Where it wouldn't just be a dope record in 2021, but in 2026, 2027, as well. Because I have those types of records, like [2012's] "Pop That," which I'm still running out on stage performing and the response is still crazy, you know?

I was just listening to f***ing DJ Quik yesterday. I'm still listening to Bun B, Pimp C — rest in peace. There's no expiration date on incredible music. So, instead of just making a dope banger, let's make a timeless piece of work.

Read More: Bun B On The Fight For Racial Equality & How Artists & Allies Can Help

You mentioned staying overnight in the recording studio — was there anything else you did differently while recording this album?

Well, for the first time in my sessions, I actually had coffee pots in the studio. [Laughs.] We was drinking coffee and smoking weed and s*** in the sessions. The focus was there. We knew what the assignment was. And I just wanted to get it done, and I felt like that's exactly what I did.

The title Richer Than I Ever Been is about more than you being at your peak financially. In what other areas of your life do you feel the richest right now?

Just my direction, going where I need to go. You have to ask yourself, do you feel the best spiritually? Emotionally? A lot of times, we don't even know what the most important things to us are.

If you had to name the three most important things to you, a lot of times people will be like, "Give me a sec." If you're a father, is it to be with your kids? Is it spending time with your mother? Whatever it might be, that's the point where you feel the wealthiest.

This is when I feel the richest, because usually those are the moments that feed all my creations. I've spent time with my loved ones. After I leave my mom's crib, I'm like, "Yo, let's go forth and get it." I don't want to go to sleep for four days, I want to get in the studio and have some fun and do something special.

<blockquote class="instagram-media" data-instgrm-captioned data-instgrm-permalink="https://www.instagram.com/p/CV37cNFFH2R/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="14" style=" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:540px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);"><div style="padding:16px;"> <a href="https://www.instagram.com/p/CV37cNFFH2R/?utm_source=ig_embed&amp;utm_campaign=loading" style=" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;" target="_blank"> <div style=" display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div></div></div><div style="padding: 19% 0;"></div> <div style="display:block; height:50px; margin:0 auto 12px; width:50px;"><svg width="50px" height="50px" viewBox="0 0 60 60" version="1.1" xmlns="https://www.w3.org/2000/svg" xmlns:xlink="https://www.w3.org/1999/xlink"><g stroke="none" stroke-width="1" fill="none" fill-rule="evenodd"><g transform="translate(-511.000000, -20.000000)" fill="#000000"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631"></path></g></g></g></svg></div><div style="padding-top: 8px;"> <div style=" color:#3897f0; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;">View this post on Instagram</div></div><div style="padding: 12.5% 0;"></div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"><div> <div style="background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"></div> <div style="background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"></div> <div style="background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"></div></div><div style="margin-left: 8px;"> <div style=" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"></div> <div style=" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)"></div></div><div style="margin-left: auto;"> <div style=" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"></div> <div style=" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"></div> <div style=" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"></div></div></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"></div> <div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"></div></div></a><p style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;"><a href="https://www.instagram.com/p/CV37cNFFH2R/?utm_source=ig_embed&amp;utm_campaign=loading" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;" target="_blank">A post shared by Biggest Boss Rick Ross (@richforever)</a></p></div></blockquote> <script async src="//www.instagram.com/embed.js"></script>

You released your debut album, Port of Miami, in 2006 when you were 30 years old. With so many rappers coming into the game at such young ages now, how do you think getting started as an adult impacted your career and financial decisions?

That maturity most definitely played a major role. You know, if I would have become a multimillionaire at a much younger age, I could have been in the studio flirting around with drugs — versus me coming in at 28 years old, into my early 30s, and having two beautiful children at the time.

I still had fun. I most definitely made mistakes. I still wanted to travel the world. But I wanted to f***ing do something that had never been done before coming from Miami. I wanted to also make sure the music translated that message, that level of success. And not just for financial purposes, but to show everybody else — the youngsters — like, "Yo, you can do it, too." You don't have to just hit a baseball or slam dunk a ball. You could be creative and make something out of nothing.

How have you instilled those same entrepreneurial lessons in your children?

Just letting them actually watch me accomplish what I've accomplished. Letting them watch one franchise turn to two, to three. Letting them see me spend time in the studio and explaining to them why I won't be there on those nights because I'm touring. Calling them on FaceTime backstage, letting them know I'm finna perform, telling them, "Say what's up to Lil Wayne."

I let them enjoy those moments. On their walls, they have pictures with Cash Money Records, DJ Khaled and so forth, so they understood what the mission was. And I know as they continue to grow, they'll understand it that much more.

Earlier this year you gifted your son his own Wingstop franchise for his 16th birthday. What was that moment like?

Well, him being a young athlete — he's a sophomore on an incredible football team — I'm encouraging that entrepreneurship. College athletes can do endorsements now, with fast food companies or whatever, and we want to encourage that business side of it.

I most definitely wanted to let him know that this is an empire that we're building together. Even though he has a small role in it, because his focus is being a student and an athlete, I want to make sure it's always in the back of his mind that he's a businessman, too.

<style>.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }</style><div class='embed-container'><iframe src='https://www.youtube.com/embed/bKRQP8EY-JY' frameborder='0' allowfullscreen></iframe></div>

Yungeen Ace, a young, up-and-coming rapper from Florida, appears on the album ["Can't Be Broke," also featuring Major Nine]. Did you give him any career advice when you two worked together?

Anytime I can, I let the youngsters know, man, stay focused. Especially when you have this opportunity and these talents, because homie's walking a fine line of doing some incredible s***, both him and Foolio. Just the city of Jacksonville as a whole. Miami is on fire, but I'm seeing some new things coming from J-Ville. And the record that we collaborated on for the album is one of my favorites.

Anytime I can give a young artist from Florida an opportunity, I feel that's my obligation. And that's if you're from Tampa, Orlando, Miami, wherever. Me having an ear that could possibly help another young artist, that s*** is dope. So, I'm glad we got to collaborate on this level of a record.

Did you give him any advice regarding his beef with Foolio?

My peers know I've always went out of my way to try to get homies to squash any type of beef. Like, let's handle our business. Five years from now, y'all could be the same dudes on an incredible record together that changes the game.

I remember getting Gucci Mane and Yo Gotti on the phone and saying, "Man, let's put that s*** behind us, homie. It's our time to take over the rap game." We got to do this together, because if you're gonna do something legendary, you got to do it with your team. You got to put the bulls*** behind you. So most definitely, that's something I encourage.

I look forward to collaborating with Foolio next. You never know what might come from it. I just know when I see two good dudes that I actually can communicate with, that I should extend that olive branch.

What were some of your other favorite collaborations on this album?

There's one record with me, Future and Wale ["Warm Words in a Cold World"], and it's got that heavy swag. You know, that drip. [Laughs.] It's just one of those fly records.

I also reached out to Willie Falcon to open the album up ["Little Havana, also featuring The-Dream]. He's the first collaboration on the album and he's saying some stuff he really needed to say. With us having to be on the phone, we had to do things a certain way. But that's a powerful collaboration. This is a powerful, expensive album.

You released "Outlawz" with Jazmine Sullivan and 21 Savage off the album first. What made you want to lead with that collaboration?

It felt dramatic. I could see the visual — [Jazmine] in a big dress, draping real long, trying to keep up with her beautiful voice. I could've got some younger artist, but no, I wanted a very experienced, vocal-heavy diva to lead that record. And me and 21 Savage, we just kept it real classy street. I wanted to lead with that and give fans something that felt expensive.

<style>.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }</style><div class='embed-container'><iframe src='https://www.youtube.com/embed/imfiuRkn6WQ' frameborder='0' allowfullscreen></iframe></div>

You talked a little bit about creating music that has longevity. You've definitely had several long-lasting hits. What's going through your mind when you're creating one of those records that's going to live on for years?

You know, a lot of it is me getting in the studio with some of the greatest artists and us actually challenging ourselves. It's not just me, Drake and Lil Wayne getting in the studio and chillin' in the corner. Nah, we actually in there popping s***.

I believe that over time, building and creating these relationships, whether it's with producers, whether I'm working with J.U.S.T.I.C.E. League or whoever it is, we keep pushing ourselves. We've done some great things, but we're not relying on our previous records.

Speaking about Drake, have you guys been working on anything for that joint project you teased earlier this year?

Well, just mentioning Drake, I had thought about Astroworld [Festival, where 10 people died this year due to a crowd crush]. I want to send out my prayers to everybody that was affected by that, and I'm sure that's weighing heavy on Drake and Travis [Scott] right now. So, that's my only thought when you mentioned the homie, but I'm sure we'll chop it up soon.

With this being your 11th studio album, dozens of hits and five No. 1 albums under your belt, it'd be easy for you to stand on that track record. But from what you're saying, it sounds like that day-one passion and drive for the music is still there.

They're still there. Even when you feel like you have nothing to prove, it's still dope music that needs to be made, you know? I don't feel I'm above that bar of having to deliver some dope s***. It's not, "Oh it's just my 11th album." Nah. I'm finna give them that business. I still approached this record as a young artist, because in those recording sessions, I be geeked the f*** up! If the beat ain't dope or if it's off by just one word, it's, "Yo, we got to re-record this s***."

Looking back, when I was just an artist, it was easy for me to sit in the studio for f***ing 18 hours a day because that's all I had to focus on. But now, we got so many other partnerships, so many other things that we got our hands in. But it's still the number-one driving motivator — the music. It don't make us the most money, but it's the music, baby. That's the number one love. Everything else can be business, but the music is love.

Joeboy Sets The Record Straight On His Viral Sensation "Sip (Alcohol)," Discusses His Origins & Future: "My Best Songs Are Ahead Of Me"