Rap lyrics are generally composed around fabrications of exaggerated riches and lavish lifestyles. But, if you're Chance The Rapper you tend to have the receipts for your lofty boasting.

Case in point, Chance's most recent single, "I Might Need Security,” finds him revealing that he purchased the popular publication Chicagoist. On the track, he confidently spits: “I bought the Chicagoist/Just to run you racist bitches out of business.” And, as of Thursday morning (July 19), it is in fact undeniably so.

According to Gothamist, Chance acquired the popular magazine via public radio station WNYC, who initially purchased the publication as well as its sister sites back in February. Under Chance The Rapper's Social Media LLC, the Coloring Book artist now owns all of the Chicagoist's assets including the sites archives, internet domains and affiliated social media accounts.

Speaking to Gothamist, Chance spoke extensively about the future he envisions for the publication. "I’m extremely excited to be continuing the work of the Chicagoist, an integral local platform for Chicago news, events and entertainment,” Chance said. “WNYC’s commitment to finding homes for the -ist brands, including Chicagoist, was an essential part of continuing the legacy and integrity of the site. I look forward to re-launching it and bringing the people of Chicago an independent media outlet focused on amplifying diverse voices and content."

The news of Chano's new business venture arrives less than 24 hours after dropping off new heat, in the form of four new songs, shooting down rumors that he would be delivering a new album this week.

Press play on Chance The Rapper's "I Might Need Security" and hear the tid-bit about his acquiring of Chicagoist magazine at the 2:29 mark.

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