Why Beautycon chose Cardi B to speak about financial literacy

The brand's CEO, Moj Mahdara, discussed modern beauty and the digital age, the role of women entrepreneurs and executives, and why Cardi B is the perfect person to talk about women's finance.
8:15 | 04/09/19

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Transcript for Why Beautycon chose Cardi B to speak about financial literacy
Reporter: This is a new stage for cardi B. The hip-hop superstar and grammy winner is headlining beauty con. A massive convention full of celebrities, makeup, and money. But cardi B isn't here to perform. She's here to talk. What's popping, everybody? Reporter: The artist famous for making money moves is revealing the secrets to her financial success. I definitely get paid equally. You want to know why? I say I'm going to stop taking bookings until y'all start paying me more. And that bag . Reporter: And don't even get her started talking about taxes. And damn, I gave all this money to uncle Sam, and they're there are still potholes in my street. Reporter: We're so used to seeing you on stage. So used to seeing you on the red carpet. Why are you here today? To represent women before the fame, you know what I'm saying? Before the fame, I had to figure out how to pay bills. I had to figure out how it was going to be my next meal, just like everybody else. I wanted to let a coupe of people know how I did it, how I managed, how I budgeted, how I made my dreams come true. Reporter: The bronx born former stripper is now a household name worth millions of dollars, building an empire out of her music career. With hits like "Like money." ��� Reporter: She is also investments in fashion and nails. Plus with 42 million follow owners Instagram alone, she has a built-in customer base. I like million dollars bills. Reporter: Although the I like it rapper is here to give advice and guidance, cardi is shaving at the role model, tweeting over the weekend still spit my past right in my face. So for now I'm going to be my old self again. Where does that frustration come from? And how you channel it? It comes from when I first started doing videos, I didn't even think for one second what I was going to say. And nowadays I got to watch what I say. I feel like I'm trapped. I feel like I'm trapped, like I'm not being myself. This saint 2016. I changed a lot for you So I could be a damn role model for your kids. So you need to be the role model for your kids. Reporter: Now she is able to show other women how to capitalize on their personalities and capitalize on their brands. Women like Melissa. Melissa quit her career to start a lipstick business out of her I was just kind of creating lip colors for me because I couldn't find them. And then when I started to understand that this didn't really exist, especially at that time, like I was oh, I'm taking this to the moon. Reporter: And now she is an owner of the lip bar. And has a booth here at beauty con. But it hasn't been easy. In 2015, an opportunity presented itself on the hit show shark tank. Hi, I'm Melissa butler. The sharks' rejection was quick -- That is such a bad yd. Reporter: And devastating. The chances that this is a business are practically zero, and they would crush you like the cockroaches you are. You only have so many minutes on Earth. Don't waste them trying to sell lipstick. They were brutal. Yeah, they were. To me it's more about the investment and that 7 million people watch the show and we can get call of these eyes on us. Reporter: Today the lip bar has its own flagship store in Detroit and Melissa is the brand's face. But the biggest coup? Target. Her brand in nearly 500 stores nationwide and available online. If you could say anything to those judges right now where you are now, what would it be? I would thank them. The day the shark tank episode aired, we got 35,000 hits to our and we got thousands of orders. I would just thank them for giving me the courage that I didn't know I had. Reporter: The lip bar's success also attracted the attention of beauty con. And the co-founder. Well took the co-founder out on the convention floor. This is what it looks like when you take a large group of people and essentially give them a platform to feel good about themselves. Reporter: Add in some of the biggest social media influencer, celebrities, and now the general public. I actually want to start my own sustainable beauty line, tech beauty line. So I came here for inspiration. Reporter: Moj made a splash as an entry stri disrupter, trying to change. Not really wearing makeup, I feel flattered to be so accepted and so celebrated within this unit. Reporter: The mission of beauty con is more than sales and products. Last year only about 2% of all venture capital, that's usually money invested in startups went to women. What's worse, women of color accounted for only 0.02%. Yet women of color are starting businesses at a much higher rate. For example, Melissa started the lip bar back in 2012, but landed her first major investor just I love her. Really, she is part of the portfolio of brands that we're the most proud of. Reporter: This year, part of moj's strategy to get women talking about business and strategy is cardi B. Hundreds of people, mostly women packed the halls ahead of her appearance, including Melissa. Cardi, cardi! This outfit crazy. This hat, I love it. Reporter: The rapper dispensed plenty of advice in true cardi B fashion. I want to Know this right now, and I'm going take off my shoes. And I'm going to give you some Advice that a lot of people aren't going to Tell you. Always take a business class, because sometimes the career that you study for one day is not going make you happy, and you want to become your own boss, but you cannot be your own boss because you don't know how to manage a business. Cardi kept it real, and it continued backstage in our exclusive one-on-one. Don't talk about my choices if you wasn't in my shoes. Reporter: What lessons have you learned along the way about managing your money? Always have a business manager, like I said. Always, always have lawyers to review what you're getting into. I got myself in hot messes because I trusted so many people. Reporter: So much of the music is about stunting, showing off your wealth. Where does financial literacy fit in hip-hop today? You might have two million in your bank account so oh, I can buy a lambo because I got two million and a lambo cost 500,000. You have to give money to uncle Sam, you spend 500,000 on a car and then what you really have in your bank account is about $200,000. Before you spend something, make sure you can afford it. Just because you see it in your bank account, that doesn't mean you what you have. Reporter: She says it's time for women to step up, to get paid and treated equally. Women don't understand the power that they have. Me just asking a question, me with my looks, I could get whatever the I want, and I have the same power. These men are not that smart. Everybody is telling me who is your role models, who do you look up to, and they always expect me to say like an artist. I can't relate to an artist because I ain't saw they struggle. I saw my mom's struggle. I saw the At the strip club struggle. I always tell myself those are the people that used to tell me don't be mean. Don't be mean. Be greater. She is so honest and so relatable. My favorite part of her panel was when she was basically saying like, look, I'm a celebrity, but you can also be a celebrity if you just focus. Reporter: By the end of the day, Melissa was packing up and ready to get right back to the grind. What's next for you? We're back to the pavement. Like I have a strategy meeting tomorrow. We're doing another trade show next week. Reporter: So you're always hustling? I'm always hustling. Reporter: For "Nightline," I'm ashan Singh in New York.

This transcript has been automatically generated and may not be 100% accurate.

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