While on the red carpet of the 2014 MTV Video Music Awards in California on August 24, West Coast hip hop producer DJ Mustard confirmed to MTV that Lil Wayne will be rapping over one of his beats on the album. In July 2014, Lil Wayne's frequent collaborator DVLP confirmed he had produced songs for Tha Carter V. In June 2014, Atlanta-based record producer Mike Will Made It, revealed 'I got three records with Lil Wayne for Tha Carter V'. Also in May 2014, Atlanta-based rapper and producer Soulja Boy, who previously produced 'Wowzerz' from I Am Not a Human Being II (2013) for Lil Wayne, announced he was working with Wayne on the fifth installment of Tha Carter series. The collaboration marks the first time in 10 years that Fresh and Wayne worked together, not since 2004, when Wayne released Tha Carter and Fresh subsequently severed ties with the Cash Money Records. In May 2014, Lil Wayne's longtime record producer, former Cash Money artist Mannie Fresh, announced he would be reuniting with Wayne on Tha Carter V. In September 2019, 25 songs from the original version of Tha Carter V leaked.

I'm still nervous about Tha Carter V.But I'm confident about what I do, though I'm still nervous about what people think. I'm always feeling like I ain't done shit. And then Tha Carter IV was just unexplainable, and now this one here, there are no words. I was amped to do that, but then Tha Carter III? I don't know what happened. I was feeling the success of Tha Carter I. In July 2014, in an interview with XXL, he spoke about the album, saying: Whatever message you take from it is your choice. I'm not sending a message because that message may not get across. It's supposed to be personal, a reflection of me, unless you have somebody writing it for you, and everybody know I'm not that artist. I never try to send messages through music. I still say what I want to say-it just sounds better and makes more sense. In May 2014, when asked about Tha Carter V, Lil Wayne said the album is all about 'growth' and that his music is 'supposed to be personal': Whenever I have to pitch in for a Young Money album, a Like Father, Like Son album and something like that and maybe something out the blue, but the way I'm working on this album, it's to me, the way it seems like now, it seems like it'll be impossible for me to work this hard again for anything else. I didn't smile when I said it.I plan on it being my final solo album. I personally plan on this being my final solo album, yes, and it's definitely the final Carter album. In April 2014, Wayne addressed his Carter V release: In November 2012, Lil Wayne announced Tha Carter V would be his final album he previously stated he would retire at the age of 35 he explained that he had four kids and he 'would feel selfish still going to the studio when it's such a vital point in their lives'.

ДЄ deluxe edition was released on September 25, 2020, to celebrate the album's two-year anniversary it consists of songs that did not make the original album. On September 13, 2019, 20 songs from the original version of Tha Carter V were leaked online, containing many unreleased tracks compared to the official version of Carter V that was released in 2018. The album received generally positive reviews, and debuted at number one on the Billboard 200 with the second-largest streaming week for an album of all time and with 480,000 units sold.

Following a lengthy legal battle, Lil Wayne was confirmed to have been released from his contract with Cash Money in June 2018 and announced the release of the album in September. Originally planned to be released in 2014, Tha Carter V experienced several delays as a result of contractual disputes between Lil Wayne and Cash Money Records, as well as his numerous personal disputes with label-head, Birdman. The album's features include Swizz Beatz, Kendrick Lamar, Sosamann, Lil Wayne's daughter Reginae Carter, Snoop Dogg, Nicki Minaj, Ashanti, Mack Maine, Travis Scott, Nivea and the late XXXTentacion. It was released on September 28, 2018, by Young Money Entertainment and Republic Records. Tha Carter V is the twelfth studio album by American rapper Lil Wayne.

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