How rapper Drake earned a net worth of $140 million. When he was 23, Drake promised to deposit $25 million before he turned 25. Two years later, he had achieved his goal. So he set an even higher goal. He aspired to earn $250 million by age 29. He earned “only” 150 million dollars. Minus all of his expenses, savings, and maintenance, drake net worth amounts to approximately $140 million at the time of writing. This was enough to see him rub shoulders with some of the industry’s most iconic artists at Forbes, including Jay Z, Kanye West, and Lil Wayne. Not bad for someone planning to retire at 35, right? Its assets include a lucrative merchandising business, an $8 million Hidden Hills house, and record label OVO Sound. Here’s the story of the Canadian rapper and how he makes money.
Drake Heritage/ Drake Net Worth/ Drake Fortune
|NET WORTH||$140 MILLION|
|Name||Aubrey Drake Graham|
|Was born||Toronto, Ontario|
|Date of birth||October 24, 1986|
|Source of wealth||Canadian rapper, singer, songwriter, producer, actor, and entrepreneur|
Drake was born on October 24, 1986, in Canada. And the name of the city is Toronto. According to Drake, his rise to fame dates back to his high school days. One of his classmates had a father who was an agent and had always insisted on promoting new talent at his children’s school. I would encourage students to send anyone who had a natural sense of humor to an audition. After the audition, he became Drake’s first agent. Drake started out as a young actor and quickly rose to child star status. One of his most notable works is the Canadian teen drama television series Degrassi: The Next Generation.
This earned him a good $40,000 a year. In 2006, he decided to venture into the rap music industry, a decision that proved extremely fruitful. To put that in perspective, a single concert can win Drake staggering tens of millions. With the support of other high-profile rap stars such as Kanye West, (“Best I Ever Had”) to appear on the Billboards Hot RnB/Hip-Hop Songs chart at number 2!
The Main Sources Of Drake Net Worth
Drake net worth is derived from several sources. The main ones include music sales, sponsorships, concert tours, investments, and, of course, Youtube. Considering he writes his own music, and assuming he earns 11.1 percent of every album sale, we can deduce that Drake has earned approximately $14.4 million from the $130 million of his albums. A single, on the other hand, earns him $1.99 each. It has sold 50 million singles, generating an additional $99.5 million. Multiply that by 11 percent (to give you about $11 million), which is what Drake is left with. The pop star also makes a “pocket swap” as a featured artist. Each single he sells as a featured artist earns him 3.3 percent of the revenue. This means that, after selling 24.5 million singles, their total profits increase by $1.6 million. However, it earns nothing from its mixtapes, as they are given away for free as promotional tools.
Concert tours are drake’s biggest source of income. In fact, gigs are usually the biggest contributor to the drake net worth of most pop stars. This is especially because they retain most of what is generated on the concert tour. Drake’s first major concert tour was in 2010, from which he earned 85 percent of the impressive $18 million generated. He also made two major tours in 2012 and 2013 that produced an estimated $42 million individually. This increased his net worth by an additional $72 million. He matched that again during the Summer Sixteen tour when he earned $71 million.
Drake Youtube Views
Youtube has also contributed significantly to Drake’s network. His Youtube page has around 170 million views, while his Vevo channel boasts a staggering 2.78 billion views. It’s easy to determine and just as difficult considering the hard work behind it, how the Canadian rapper’s net worth has grown. Assuming Youtube pays $7.60 for every 1,000 views, and Drakes keeps all the profits from his channel and 85 percent from the Vevo channel, his total Youtube revenue would amount to about $19.3 million at the time of writing.
Drake net worth also benefits from sponsorship deals. Some of the most popular brands it has partnered with are Sprite, Kodak, and Jordan sneakers. The rapper is estimated to have earned around $5 million per year from all of his sponsorship deals since 2010. This would mean that it has earned around $36 million in 2017.
Drake Investments/Equity 2021
Drake is the co-founder of OVO Sound, which was initially used as a marketing tool. He would mention the acronym regularly in his songs and during live performances. The acronym means “very typical of October”. When he released his second album in 2011 (Take Care), he was so successful that Drake was able to transform the label into a legitimate record company. The other co-founders are Oliver El-Khatib and Noah “40” Shebib. Records, which would sponsor all promotions and distribution.
Drake socail media released three full projects with OVO, namely: What A Time To Be Alive (2015), If You’re Reading This It’s Too Late (2015), and Nothing Was the Same (2013). Other names that went through OVO include producers Boi-1da Nineteen85, Mike Zombie, and T-Minus, as well as Majid Jordan, Dvsn, Roy Woods, and PartyNextDoor. OVO also organizes an annual music festival in Toronto, which also earns it a good income.
Drake’s Hidden Hills House
Drake bought a $7.7 million home in Hidden Hills, California in 2012. It is known as the “YOLO estate”, inspired by the acronym of You Only Live Once. The estate has been famous for its elegant scale, including a 25-seat movie theater, a beach volleyball court, a tennis and basketball court, a mechanical bull, and waterfalls. In his 2016 single “Summer Sixteen,” Drake referenced the house, comparing the size of his pool to Kanye West’s. The pool exceeds the space occupied by West’s pool and was in fact designed to compete with that of the Playboy Mansion. Once, Drake had put his property up for sale at a price of $20 million but then removed the ad.
Drake’s appearance in Forbes comes at a time when rapper 50 cents is leaving the scene after burning his stash with the Vitaminwater deal. drake net worth has managed to level up his earnings every year, and his current goal is to maintain his success to stay at Forbes Five.
5 Awesome Quotes from Drake
- “Everyone has an addiction, mine turns out to be a success.”
- “I was born to make mistakes, not to pretend perfection.”
- “When you write your life story, don’t let anyone else hold the pen.”
- “Patience is key to overcoming a breakup. That, and the disruption of interaction after the breakup.”
- “Those who hate will spread your failures, but they will whisper your success.”
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