Michael Rainey Jr. Thanks His Mom for Teaching Him the Value of Saving as a Child Actor
American actor Michael Rainey Jr., best known for his role as Tariq St. Patrick in the hit series Power Book II: Ghost, recently opened up about his financial upbringing and the invaluable role his mother played in shaping his money mindset. In a candid conversation on Forbes’ New Money podcast, Rainey shared how his early success in the entertainment industry came with important life lessons about financial responsibility, most of which came directly from his mom.
Rainey’s journey into acting began at the age of nine, when a talent agent spotted him and saw potential in both modeling and acting. By 13, he landed his first role in the Italian film Un Altro Mondo, and just a few years later, he found fame playing Tariq in the Power franchise. The role brought him not only recognition but also a sizable income for a teenager. However, Rainey admitted he had no real idea how much he was making because his mother had taken the initiative to save and manage his earnings until he was mature enough to handle them himself.
“My mom did a fantastic job of helping me save my money since I was a child,” Rainey said. “I didn’t really know the numbers I was making until I was older. She made sure to put a lot of it away for when I reached the age where I could make more informed decisions about my finances.”
Now 23, Rainey is deeply grateful for that foundation. With a clear understanding of financial literacy and a sense of responsibility instilled early on, he’s taken full control of his money and future. He’s made savvy investments in land, bitcoin, and Ethereum, and has also stepped into entrepreneurship, launching a production company, opening a Jamaican restaurant called Catch 22, and becoming a part-owner in a cannabis dispensary, Herbs Jamaica.
Despite his responsible approach, Rainey isn’t afraid to enjoy the fruits of his labor. One of his prized possessions is a Porsche 911 Turbo S, and he’s now turning his love for cars into a business venture by launching a YouTube channel dedicated to showcasing some of the most outrageous custom car builds from around the globe.
Michael Rainey Jr.’s story is a powerful testament to the importance of early financial education and smart money management. Thanks to his mother’s foresight and discipline, he’s not only built a successful entertainment career but also laid the groundwork for a strong financial future.
