Blood Money aka rapper Big Glo, the cousin of Chief Keef, was killed in the Southwest side of Chicago in Englewood.
The rapper, who is in his thirties, real name Mario Hess, was a part of his cousin Chief Keef's Glory Boyz Entertainment entourage.
The news of the rapper's murder in Chicago comes just weeks after Blood Money had signed with Interscope Records, the same label and home to Chief Keef, who signed to the label a couple of years ago.
Hess, who appeared on Chief Keef's "F-ck Rehab," was reportedly gunned down in the Englewood neighborhood after allegedly two gunmen fired dozens of shots striking the father of five as many as 10 times.
The gunshots also allegedly wounded another relative.
Before signing to the major record deal with Interscope, Blood Money had released a mixtape entitled Drug Wars for Glory Boyz in 2013.
The 19 year-old Chief Keef, who says he saw that his cousin went out "with a smile on his face," plans to release new music from Blood Money which he announced via his Twitter.
According to sources, what possibly could have led to the incident is the rapper's successful deal, which landed him the $50k signing bonus and may have placed him in a position where he may have been targeted by potential robbers. The rapper reportedly used a majority of his money to give to his family, pay bills and to purchase a car and was allegedly seen flashing money in excess of up to $8k.
Meanwhile, police have not identified whether Hess and his relative - another cousin - were targets of the shooting.
Hess was pronounced dead at Stroger Hospital, while the second victim, his cousin, who was shot in the stomach, underwent surgery and is expected to survive.