Based on airplay and chart success the song is considered one of the most popular singles in hip hop history. It received a nomination for the Grammy Award for Best Rap Performance by a Duo or Group in 1998. It was the sixth song to hit number one posthumously for a credited artist. The song is Notorious B.I.G.'s second posthumous number-one single, following " Hypnotize", making him the only artist in Hot 100 history to have two number-one singles posthumously. Released posthumously, "Mo Money Mo Problems" topped the Billboard Hot 100 for two weeks in 1997, replacing " I'll Be Missing You" at the top of the chart, Puff Daddy's own tribute to the rapper.
The song features guest vocals from Mase and Sean "Puff Daddy" Combs, and the hook was sung by Kelly Price. Backing vocals of "I'm Coming Out" are also used in the song, which repeat the title of that song. Its instrumental contains an interpolation of " I'm Coming Out" by Diana Ross, for thus Bernard Edwards and Nile Rodgers are also credited as songwriters. It was written by the Notorious B.I.G., Steven Jordan, Mason Betha, and Sean Combs, while the latter also produced the song. " Mo Money Mo Problems" is a song by American rapper The Notorious B.I.G., released through Bad Boy Records and Arista Records, which impacted on US mainstream radio stations on July 15, 1997, as the second single from his second and final studio album, Life After Death (1997).