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Drake Net Worth

The Drake net worth is estimated to be around $250 million, making him one of the wealthiest rappers in the world. He has earned his fortune through a variety of sources, including music sales, tours, and endorsements.

Drake is a rapper, singer, and songwriter who has taken the music world by storm. He is known for his catchy beats, relatable lyrics, and smooth flow. But beyond his musical talent, Drake has also made a name for himself as one of the richest rappers in the world. In this blog post, we will take a closer look at Drake’s net worth and how he has managed to accumulate such a significant fortune.

Music Sales: Drake has sold over 150 million records worldwide, making him one of the best-selling music artists of all time. He has also earned millions in royalties from streaming services like Spotify and Apple Music.

Tours: Drake’s tours have been highly successful, grossing over $700 million. His “Aubrey and the Three Migos Tour” in 2018 was one of the highest-grossing tours of the year, bringing in over $79 million.

Endorsements: Drake has endorsed several brands, including Nike, Sprite, and Apple. His partnership with Nike for his own line of sneakers, OVO, has been particularly successful.

Early Life and Career Beginnings | Drake net worth

Aubrey Drake Graham was born in Toronto, Canada on October 24, 1986. His father, Dennis, was a drummer who played with artists such as Jerry Lee Lewis. His mother, Sandra (also known as Sandi), worked as an English teacher and florist. Drake attended a Jewish day school and had a formal Bar Mitzvah ceremony.

When Drake was five years old, his parents divorced. His father moved to Memphis, where he was eventually arrested and imprisoned for several years on drug charges. Drake remained in Toronto with his mother, but visited his father in Memphis during the summers when he was not incarcerated. Drake has stated that his father was absent during his childhood, although his father has denied these claims and stated that they were exaggerated to sell records.

Starting from sixth grade, Drake and his mother resided in the lower level of a two-story townhouse in the upscale neighborhood of Forest Hill. Although they lived in a wealthy area, their financial situation was difficult, and money was tight.

During his attendance at Forest Hill Collegiate Institute, Drake discovered a passion for acting and singing. He then transferred to Vaughan Road Academy, where he faced bullying due to his mixed race and religious background. Drake temporarily dropped out of school, but eventually completed his studies and graduated in 2012.

He started his career as an actor, appearing in the Canadian TV series “Degrassi: The Next Generation.” But it wasn’t until he released his mixtape “So Far Gone” in 2009 that he gained recognition as a rapper.

Degrassi | Drake net worth

At the age of 15, Drake was able to secure a role on the popular Canadian teen drama television series, “Degrassi: The Next Generation,” with the help of a friend’s father who worked as an acting agent. On the show, he portrayed Jimmy Brooks, a basketball star who became disabled after being shot by a classmate. He appeared in seasons 1 through 7 and made guest appearances in 2008.

During his time on “Degrassi,” Drake’s mother became ill and was unable to work, leaving their family with no income except for his paychecks from the show. He earned $50,000 per year in salary from “Degrassi,” which came out to approximately $2,000 per month after taxes. Drake would later describe this period as a challenging time for his family.

Music Career Highlights | Drake net worth

Since then, Drake has released numerous successful albums and singles. His albums “Thank Me Later,” “Take Care,” and “Nothing Was the Same” all reached the top of the charts, and his single “One Dance” spent a record-breaking 10 weeks at number one on the Billboard Hot 100 chart.

Drake’s successful music career has also earned him many accolades. He has won four Grammy Awards, six American Music Awards, and 27 Billboard Music Awards. He has also broken several records, including the most top 10 songs on the Billboard Hot 100 by a solo male artist.

Taking inspiration from rap icons like Jay-Z, who had achieved success as independent artists before landing record deals, Aubrey Graham started releasing mixtapes in 2006 under his middle name “Drake.” His first mixtape, “Room for Improvement,” was released in February 2005 through his website and official MySpace page, and managed to sell over 6,000 copies directly. The following year, he released his second mixtape, “Comeback Season,” under his recently-launched label October’s Very Own (OVO Records). This mixtape featured the underground hit single “Replacement Girl,” and its music video was the first from an unsigned Canadian rapper to be featured on BET. One version of the song even included a spliced sample from the track “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.

Jas Prince, a Houston-based producer and founder of Rap-A-Lot Records, heard “Replacement Girl” and passed it on to Lil Wayne, who was impressed and called Drake to join his Tha Carter III tour in Houston. During the tour, Drake and Lil Wayne collaborated on several songs, including “Brand New,” “Forever,” and “Ransom.”

Young Money entertainment | Drake net worth

Drake had not yet joined Lil Wayne’s record label when he released his third mixtape, “So Far Gone”, in 2009. The mixtape featured guest appearances from several artists and was initially offered as a free download on his OVO website. It was downloaded 2,000 times within the first hour and eventually became certified Gold by the RIAA, peaking at #2 on the Billboard Hot 100. The mixtape was later released as an EP, which won the 2010 Juno Award for Rap Recording of the Year and debuted at #6 on the Billboard 200. Following the success of “So Far Gone”, Drake was pursued by multiple labels and eventually signed a joint venture contract with Young Money Entertainment and Cash Money, with distribution by Universal Music.

Singles sold | Drake net worth

Drake has sold the most digital singles of any artist to date, surpassing the second-place holder Rihanna by 40 million with a total of over 163 million digital singles sold. He has sold approximately 26 million albums and is ranked as the 80th highest selling musician ever. In Canada, he is the third highest-selling musician after Shania Twain and Celine Dion with 48 million and 50 million sales respectively.

Mainstream success

Drake’s first studio album, “Thank Me Later”, was released on June 15, 2010, and became a chart-topping success, hitting #1 in the US and Canada, and topping several charts. The album was eventually certified Platinum by the RIAA. His subsequent albums have been at least 4-times Platinum, with 2011’s “Take Care” going 6-times Platinum.

Drake is now one of the most successful and influential figures in hip-hop and the wider music industry, having collaborated with numerous major artists, such as Kanye West, Eminem, Jay-Z, and Travis Scott. He has been nominated for numerous awards, and has won over 180 major awards, including four Grammys from over 40 nominations.

Drake is also highly profitable, with an estimated earning of $1 million per concert.

Singles sold

Investments and Business Ventures

Drake has also invested in several businesses outside of music, including real estate and technology. In 2019, he purchased a 50,000-square-foot mansion in Toronto for $41 million. He has also invested in several startups, including the car-sharing service Turo and the esports company 100 Thieves.

Giving Back to the Community

Despite his immense wealth, Drake is known for his philanthropic efforts. He has donated millions of dollars to various charities and organizations, including the Toronto Raptors Foundation and the Houston Flood Relief Fund.

In conclusion, Drake’s net worth is a testament to his immense talent, hard work, and shrewd business sense. From his early beginnings as an actor to his current status as one of the wealthiest rappers in the world, Drake has proven that he has what it takes to succeed in the music industry and beyond.

Music Group Contract

During the Q1 earnings call in May 2022, Universal Music Group confirmed that they had re-signed Drake for a long-term global partnership that includes various components such as recorded music, music publishing, film, television, and brands. Drake had previously hinted at the deal in his song lyrics, mentioning a “360 up front” deal. With Universal’s confirmation of the deal, some have interpreted this lyric to mean that he received a $360 million upfront payment. However, other sources have estimated the value of the deal to be worth $400 million or more. In the years leading up to the signing, Drake’s music catalog alone generated $50 million in annual revenue for the company. Assuming the deal was worth $400 million, Drake would have potentially received a $200 million upfront payment after taxes.

Real estate

Despite being born in Canada, Drake has resided in Hidden Hills, California since 2012. He purchased a luxurious mansion from the previous owner of Los Angeles’ Saddle Ranch Bar for $7.7 million in cash. The estate, which he calls the YOLO Estate, consists of various buildings, including a 12,000-square-foot main house and a 2,000-square-foot party house. The estate features several amenities, such as equestrian stables, a 25-person movie theater, a full-sized basketball court, a sand volleyball court, and one of Southern California’s largest privately owned pools. The lagoon-like pool surrounds the house, with multiple waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy mansion.

Drake had been eyeing the Hidden Hills mansion for years after spotting its impressive pool in an online search for “craziest residential swimming pools”. In an interview with Rolling Stone, he revealed that he used a photo of the pool as his computer’s background image for motivation. The previous owner had listed the house for $27 million in 2009, but sold it to Drake in 2012 for $7.7 million as he was facing financial difficulties.

Drake expanded his Hidden Hills property in 2015 by purchasing the adjacent 1.6-acre estate for $2.8 million, and again in 2018 by spending $4.5 million on yet another neighboring house. He now owns 6.7 acres of contiguous land at the end of a cul-de-sac, which he acquired for a total of $15 million. In March 2022, Drake put the YOLO Estate up for sale for $22.7 million. The main house is also available for purchase separately for $14.8 million.

In 2016, he bought a two-acre plot in suburban Toronto’s Bridle Path area for $6.7 million, where he built a 50,000 square-foot mansion. This house has a 10-car garage, an NBA-size basketball court, a gym, and an awards room, among other features, and the master bedroom alone covers 3,200 square feet.

According to a source who spoke with the LA Times on March 8, 2022, Drake acquired Robbie Williams’ 20-acre Beverly Hills mansion in an off-market deal for “Mid $70 million”. Additionally, he owns a condo in downtown Toronto, which brings his real estate assets to a total of at least $100 million.

Business ventures

In May 2019, Drake shared a video on Instagram that showcased his newly-acquired Boeing 767 private jet that he calls “Air Drake” and that he owns outright without any co-owners, rentals, or timeshares. This type of private jet would be worth an estimated $75-100 million.

Drake’s net worth has consistently grown since his initial Celebrity Net Worth estimate of $1 million in November 2009, with his net worth surpassing $25 million in 2012, $45 million in 2014, $80 million in late 2016, $100 million in early 2018, and $150 million in May 2019.

Drake introduced Virginia Black, a whiskey made with bourbon, in 2016. The brand sold 4,000 bottles in the first week of its release, and shipped an additional 30,000 bottles later that year.

Tours

Drake has been on six headline tours since 2010, including the “Away From Home Tour”, and has co-headlined four tours, including one with Migos in 2018. His “Summer Sixteen Tour” in 2016 was the highest-grossing hip-hop tour at that time, earning $84.3 million across 54 shows, with an average of $1.56 million per concert. The Migos co-headlining tour surpassed that record in 2018 with $80 million in earnings across 43 shows, with an average of $1.86 million per concert. Drake’s annual “OVO Fest” in Toronto is a popular event that sells out quickly every summer. He also has a residency at XS Nightclub in Las Vegas, and can earn up to $500,000 for a single appearance, while more formal concerts now earn him over $2 million.

You can also check out my post on Macklemore net worth. You can also check out Drake’s Instagram.