Los Angeles: Chance the Rapper is reportedly turning down some very generous record label offers after he achieved a historic win at the 2017 Grammy Awards.

According to The New York Post, the 23-year-old has turned down offers worth up to $10 million, after he beat Drake and Kanye West to win the Grammy Award for Best Rap Album recently, reports Independent.co.uk.

"Every label is still trying to get him. He's making too much on his own... He was turning down $5 million advances before, and now it's like $10 million," said a source.

In an interview with Vanity Fair, Chance the Rapper explained that he made his money from "touring and selling merchandise... and I honestly believe if you put effort into something and you execute properly, you don't neccessarily have to go through the traditional ways".-IANS