Dear, sweet Rack. You are the chameleon of financial slang and I love you.
A Rack(s) refers to money in thousand dollar amounts.
The current popular slang perception is:
Stack Rack = $1,000
Since not very many people have multiple 100 bills in stacks of $10,000 to sing about, a Rack usually refers to only $1,000. Originally, a Rack was a stack of $100 bills that total $10,000, but due to the frequency of the use of Rack in songs like ‘Racks on Racks’ and *’Rack City’, most people refer to $1,000 as a Rack.
“I need about 3 Racks for a down payment on my car.”
“Heeey, just filed my taxes and I should be getting a Rack back!”
*Rack City is a slang term for Las Vegas where, in a casino, you can get ‘racks’ of chips to gamble with in racks of $1000 so in Rack City a Rack usually means $1,000.
So go, hustle hard, and remember to stack your racks (that means save your $).