Drake Net Worth
$70 Million per Year
Drake’s Net Worth
|Net Worth:||$250 Million|
|Salary:||$70 Million Per Year|
|Date of Birth:||Oct 24, 1986 (35 years old)|
|Height:||6 ft (1.83 m)|
|Profession:||Actor, Singer, Songwriter, Rapper, Voice Actor, Composer, Record producer|
What’s Drake’s Net Worth
Drake, a Canadian-born actor, and producer, is an international rapper with a net worth of over $250 million. Drake is a constant top-paid entertainer in the world. Before becoming a rap superstar, Drake was a child actor in the Canadian drama Degrassi. Drake has made more than $430million in his career, before taxes and living expenses, since he first achieved mainstream success.
Drake made $45 million between June 2017 and June 2018. He earned $95 million in 2017 alone. He earned $75 million between June 2018 and June 2019. He earned $50 million over the next 12 months. Scroll down to see Drake’s full year-by-year earnings breakdown.
Universal Music Group Contract
Universal Music Group announced that it had signed Drake to a long-term worldwide partnership. The deal covered everything, from recorded music to music publishing, television, and brands. This deal has been mentioned by Drake in a few songs. Drake rapped in one song about signing a deal with Universal that included “360 up front.” Some have assumed that the dealer paid him $360million up front, after Universal’s confirmation. Others have also estimated that the deal was worth $400 million. The company had generated $50 million annually in music revenue for Drake alone over the years before the signing.
If the deal was worth $400 million, Drake would theoretically have received $200 million upfront after taxes if it was.
Aubrey Drake Graham was born October 24, 1986, in Toronto, Canada. Drake’s father Dennis was a drummer and played with Jerry Lee Lewis throughout his career. Sandra, also known as Sandi, was a florist and English teacher. Drake attended a Jewish day school and was invited to a Bar Mitzvah ceremony.
Aubrey was five when Sandi and Dennis split. His father moved to Memphis, where he was eventually arrested and held for many years on drug charges. Aubrey lived with his mother in Toronto, but he visited his father in Memphis every summer when his father wasn’t incarcerated. Dennis was later described by Drake as missing during his childhood. These claims Dennis strongly denied and claimed were embellished to sell records.
Drake lived with his mom in the bottom half of a two-story townhouse in Forest Hill, an affluent suburb. Drake lived in the basement while his mother lived on the street level. They weren’t wealthy, and money was scarce.
Drake discovered an aptitude for singing and acting while attending Forest Hill Collegiate Institute. Drake attended Vaughan Road Academy, where he was bullied because of his religious and bi-racial background. After dropping out, he graduated in 2012.
Drake was 15 when he was helped by his father, an actor and childhood friend. He got a part in “Degrassi: The Next Generation”, a long-running Canadian drama for teens. He played Jimmy Brooks on the show, a basketball player who was injured by a classmate. He was a cast member from seasons 1 to 7 and made guest appearances in 2008.
Drake was on Degrassi when his mother fell ill. For many years, their only source of income was Degrassi. He was making $50,000 per year as a salary from the show at the time. After taxes, that’s about $2000 per month. Later, he would describe the period as:
“My mother was very ill. We were extremely poor. My only source of income was from Canadian television.
Aubrey, inspired by Jay-Z and other rap artists like him, began mixing tapes in 2006.
He released his first mixtape, “Room for Improvement”, via his website and MySpace. He sold more than 6,000 copies of his first mixtape “Room for Improvement” directly. The following year, he released “Comeback Season”, his second mixtape. The mixtape was released by his newly-launched label, October’s Very Own (aka OVO Records). The mixtape also featured “Replacement Girl”, a popular underground hit. The music video for the song featured the first unsigned Canadian rapper to appear on BET. One version of the song included a spliced excerpt of the song “Man of the year” by Brisco Rida, Flo Rida, and Lil Wayne.
Jas Prince, a Houston-based producer who founded Rap-A-Lot Records, heard the song and passed it along to Lil Wayne. Lil Wayne was impressed by Drake’s single and invited him to Houston to be part of his Tha Carter III tour. Drake and Wayne recorded many songs together as the tour progressed.
Young Money Entertainment
Drake was not signed to Wayne’s record label, despite what you might think. In 2009, Drake released “So Far Gone”, his third mixtape. The mixtape was available as a free download via his OVO website. The mixtape featured Lil Wayne, Lloyd Trey Songz, and Omarion. The mixtape was downloaded over 2000 times within its first hour and eventually became Gold by the RIAA. It reached #2 on the Billboard Hot 100. The mixtape was finally released as an EP, which debuted at #6 on the Billboard 200. It also won the 2010 Juno Award For Rap Recording of the year.
Drake, an independent artist, was still highly sought after by the music industry. Numerous labels scrambled to sign Drake, resulting in a bidding war. Although it isn’t confirmed, the desperation was described as “the largest bidding war in music historical history”.
Drake signed a contract on June 29th, 2009 with Young Money Entertainment, Lil Wayne. The record deal was a joint venture of Young Money and its parent company Cash Money with Universal Music handling distribution.
Drake’s debut studio album “Thank Me Later” was released on June 15, 2010. It reached #1 in Canada as well as the US. It reached #1 on the Billboard 100 in the US, #1 on R&B/Hip Hop, and #1 on the US Rap charts. The RIAA eventually made it Platinum.
His second studio album, 2011, “Take Care”, reached #1 in many countries and was charted on numerous charts. It eventually went 6-times Platinum.
Every album has been at minimum 4-times Platinum since then.
Drake is one of the most powerful and successful figures in hip-hop and the entire music industry. He has collaborated with many of the most prominent stars in the music business, including Kanye West and Eminem. Drake has been nominated for numerous awards. At the time of writing, he has won over 180 major awards, including four Grammys.
Drake earns about $1 million per concert.
Drake has sold more digital singles in history than any other artist. At the time of writing, he had sold over 163 million digital singles. This is 40 million more than Rihanna, who was second. With 26 million albums sold, he is the 80th most-sold musician. He is the third-best-selling Canadian musician, behind Celine Dion (50 million) and Shania Twain (48,000 million).
Drake’s Earnings by Year
2010: $10 million2011: $11 million
2012: $21 Million
2013: $11 Million
2014: $33 Million
2015: $40 Million
2016: $40 Million
2017: $95 Million
2018: $47 Million
2019: $75 Million
2020: $50 Million
Total: $433 Million
Drake was born in Canada but has been calling Hidden Hills, California his home since 2012. He bought the mansion of the former owner of Saddle Ranch Bar in Los Angeles for $7.7million in cash. The property is known as the YOLO Estate and includes multiple residences, including a main house measuring 12,000 feet and a party house measuring 2,000 feet. The estate includes equestrian stables and a 25-person movie theatre, full-sized basketball courts, sand volleyball courts, and one of Southern California’s largest privately owned pools. The pool is lagoon-shaped and loops around the house’s exterior. It has several waterfalls, a swim-up bar, an 80-foot water slide, and a Playboy-mansion-style grotto.
Drake told Rolling Stone that he was interested in this house for many years. He had been searching the internet for “craziest residential pools” and found this one. He used the photo of the pool as his background image for many years to motivate himself. In 2009, the house was listed by its former owner for $27 million. Drake bought the house for $7.7million in 2012 when the ex-owner was facing a cash crunch.
He bought a neighboring estate of 1.6 acres for $2.8million in 2015, which he then extended. He extended his property once more in 2018 when he spent $4.5million to purchase another house. His private estate includes 6.7 acres of contiguous property located at the end of a cul de sac that totals $15 million in real estate acquisition expenses.
Drake sold the YOLO Estate to Drake in March 2022 at $22.7 million. You could also purchase the main mansion for $14.8million.
Drake spent $6.7million to purchase a plot of land in the suburb of Toronto, in an area known as The Bridle Path. On the two-acre land, Drake built a 50,000-square-foot mansion. The house includes a 10-car garage and a regulation-size NBA basketball court. It also has a gym, awards room, and many other amenities. The master bedroom is 3200 square feet.
It was reported that Drake had a deal to purchase the 20-acre Beverly Hills home of Robbie Williams. What was Drake’s off-market price? According to a source speaking with the LA Times, “Mid $70 Million.”
He also owns a condo in downtown Toronto.
Drake has at least $100 Million worth of real property assets.
In May 2019, Drake uploaded an Instagram video that showed his new Boeing 767 private plane. He has given it the nickname and painted it “Air Drake”. The video shows Drake proudly owning the jet without any co-owners. A comparable model and a quality private jet would cost $75-100 million.
Drake’s Net Worth Milestones
In November 2009, Drake was added to Celebrity Net Worth. His initial net worth was $1 million. Just a few months before, he had signed with Lil Wayne’s Young Money. His net worth reached $25 million by 2012. He had reached $45 million by 2014. He reached $80 million in the final quarter of 2016. He easily reached $100 million in early 2018, thanks to his near-$100m earnings in 2017. His net worth reached $150 million in May 2019, his first ever milestone.
Drake has been a brand ambassador for many brands over the years, including Sprite, Burger King, and Whataburger. Drake signed an exclusive $19 million deal when Apple Music was launched. This agreement allowed Apple to become the exclusive first home for all future Drake solo releases.
OVO Sound was Drake’s record label. It is distributed by Warner Bros. Records. OVO Sound is now the music rep for Drake and other artists like Majid Jordan and Kash Doll, as well as producers such as Boi-1da and Future The Prince, Mike Zombie, and many more.
He is the Toronto Raptors’ “global ambassador”, and hosts an annual Drake Night.
Drake released his brand, Virginia Black, a bourbon-based whiskey in 2016. In the first week of its launch, the company sold 4,000 bottles. The company sold an additional 30,000 bottles later in the year.
Drake’s first headline tour, “Away From Home Tour”, was in 2010. Through 2019, Drake embarked on five more headlining tours. He also co-headlined four tours, including the 2018 tour with Migos.
His 2016 “Summer Sixteen Tour”, in which he performed 54 shows, was the most successful hip-hop tour ever. It earned $84.3 million. This is an average concert gross of $1.56million. That record was broken by his co-headlining tour with Migos in 2018, which earned $80 million over 43 dates. This is an average concert gross of $1.86million.
Every summer Drake hosts an OVO Fest festival in Toronto that sells out quickly.
Drake is a regular at the XS Nightclub in Las Vegas, where he can easily make $500,000 per appearance. Drake now earns more than $2 million per concert.
Drake has been in a few high-profile relationships throughout his life. Between 2009 and 2016, he dated Rihanna intermittently. Rihana was a recurring date between 2009 and 2016.
Adonis was born to Sophie Brussaux, a french actress/model/artist who gave birth in October 2017. Drake didn’t confirm his fatherhood until 2018.
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