First, it came from the September 2004 newsletter:

Whatshott

 

Something to play in your

pimped up car while

your cruising down the

freeway. Hiphop beats

inspired by the feeling

within.

Now the typical, square online dictionaries only say this about "pimp":

Main Entry: ¹pimp
Pronunciation: 'pimp
Function: noun
Etymology: origin unknown
: a man who solicits clients for a prostitute

 

But us hipsters and Young People speak a different tongue altogether: 

Pimp
To be cool. To be flashy and popular with women. Pimp doesn't usually refer to the classic definition of pimp as a manager of prostitutes. In Hip-hop slang, to say "you're a pimp" is to pay a guy a complement. A friend of mine overheard a kid say "Winston Churchill was a pimp," meaning that Churchill was an awesome personality.

In other words, following this usage, I think it's fair to say that "Prem Rawat is a pimp" or, more heply perhaps, "Prem Rawat be a pimp"

And why?  Because he da man wid all dat Pimp Juice:

Pimpjuice
Something or someone everybody wants. If someone says, "Hey, Pimpjuice, whatcha doing?" They are saying you are important. You're what it's all about. Attributed to Nelly.