Lil Pump's initial record contract with Warner Bros. was voided because he was a minor when he agreed to it.

He signed the deal before "Gucci Gang" got big, so Pump and his people used the opportunity to get better terms.

They shopped Pump around everywhere -- there were (false) rumors he had signed with Gucci Mane and 1017.  But ultimately he resigned with Warner Bros. and he got the $8 million deal that his team was said to be seeking.

The $8 million is an advance on a seven-year deal.  So it's possible that's almost all the money he and his peeps will be seeing until 2024. TMZ has the details:

According to the contract, Warner Bros. Records agrees to pay Pump an $8 million advance, and then $9,000 for the first year, $12k for the second and $15k for the 3rd through 7th contract years.

As for royalties, this is where Pump can score, getting 14% in the U.S. There are other royalties that are even higher. There are provisions that give him up to 66% in royalties depending on the format. 

What do you think about the deal?