Riff Raff has a lot to celebrate this week, as Billboard reports that the rapper has inked a new $4 million deal with Stampede Management and distributor BMG to launch a new label known as Neon Nation Corporation, and has dropped a new single from his upcoming album The Peach Panther to boot.

“I'm glad to finally have my Peach Panther album done, and the new single 'Carlos Slim' out," Riff Raff said in a press release sent to Billboard. "I’m also excited to announce my new $4,000,000 Neon Nation Corporation, which is more than just a record label. We’ll be investing in movies and talent across the globe to build an entertainment empire not just in music. Teaming up with Stampede and BMG is just the first step to get started."

"Carlos Slim" is an 808 Mafia-produced track with Riff Raff deploying his trademark non sequiturs, traveling between Mexico, South France and East Greece throughout the song's 3 minute run time. The Peach Panther follows up 2014's Neon Icon which was released via Mad Decent, and is expected to drop through Neon Nation Corporation this June. 

The Houston-born rapper last dropped off a four song EP titled Trench Coat Towers in November, and published a collection of poems called Neon Vibes around the same time. According to Billboard, Riff Raff's new role of music executive will seek to harness some of the rapper's social media presence which included over a million followers on both Twitter and Instagram.

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