How much is Drake Net Worth in 2023?
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|Net Worth:||$250 Million|
|Salary:||$70 Million Per Year|
|Date of Birth:||Oct 24, 1986 (36 years old)|
|Height:||6 ft (1.83 m)|
|Profession:||Actor, Singer, Songwriter, Rapper, Voice Actor, Composer, Record producer|
What is Drake Net Worth?
Drake is an actor, producer, and rapper who was born in Canada. His net worth is currently estimated to be $250 million. Drake is constantly one of the entertainers who bring in the most money all around the world. Drake got his start in the entertainment industry as a child actor and made a guest appearance on the Canadian television show Degrassi: The Next Generation when he was much younger. Since Drake first achieved widespread popularity, he has amassed career earnings of more than $430 million before accounting for taxes and other lifestyle expenses.
Drake brought in around $45 million in revenue between June 2017 and June 2018. In 2017, he was able to bring in a total of $95 million in earnings. Between the months of June 2018 and June 2019, he made $75 million in total earnings. During the subsequent year, he made a total of $50,000,000 in income. You can get a complete year-by-year breakdown of Drake’s annual earnings by scrolling down below.
Universal Music Group Contract
In May 2022, during the company’s first-quarter earnings call, Universal Music Group confirmed that it had re-signed Drake to a “long-term worldwide partnership.” According to the terms of the agreement, the partnership covered “recorded music as well as music publishing, film, television, and brands.” In a number of his lyrics, Drake has made a reference to this business transaction. In one of his songs, he sang about making a contract that included “360 up front” as part of the compensation package. Some people, in light of the information provided by Universal, have interpreted that lyric to suggest that the transaction paid him an upfront payment of 360 million dollars. According to the findings of other researchers, the value of the transaction is at least $400 million. In the years leading up to the contract, Drake’s music collection had already been responsible for bringing in an average of $50 million in annual revenue for the corporation.
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Assuming that the contract was actually worth $400 million, Drake would have been entitled to an upfront payment of approximately $200 million after taking into account taxes.
Aubrey Drake Graham was born on October 24th, 1986 in the city of Toronto, in the country of Canada. During his career, Drake’s father Dennis was a drummer who collaborated with a variety of performers, including Jerry Lee Lewis. Sandi, as Drake’s mother Sandra was known, was employed in the fields of English teaching and floristry. Drake was educated at a Jewish day school and celebrated his Bar Mitzvah in the traditional manner.
When Aubrey was five years old, Sandi and Dennis had a divorce. After that, his father relocated to Memphis, which is ultimately where he ended up getting imprisoned on drug charges and spending a number of years in prison for them. Even though he lived with his mother in Toronto, Aubrey traveled to see his father in Memphis over the summer months every year (when his father was not incarcerated). Subsequently, Drake would describe Dennis as being absent during his youth; Dennis has categorically rejected these claims and said that they were inflated to sell records. Drake would later describe Dennis as being absent during his upbringing.
Drake and his mother moved into the lower level of a two-story townhome in the wealthy community of Forest Hill when Drake was in the sixth grade. They remained there until Drake graduated from high school. Drake resided in the basement of the house while his mother occupied the floor at street level. They did not have a lot of money, which contributed to their lack of wealth.
Drake discovered that he had a talent for both singing and acting while he was a student at Forest Hill Collegiate Institute. After that, he went on to attend Vaughan Road Academy, where he was the target of bullying due to the fact that he was of mixed race and religious heritage. He did eventually graduate in 2012 despite having a period of absence from school.
Drake was able to secure a role on the long-running Canadian teen drama television show “Degrassi: The Next Generation” when he was 15 years old thanks to the assistance of the father of a childhood friend who was an acting agency. In the episode, he played the role of Jimmy Brooks, a basketball superstar who was rendered unable to play the sport after getting shot by a fellow student. He was a member of the cast from season one through season seven, and he made guest appearances in 2008.
While Drake was filming an episode of Degrassi, his mother fell ill and was unable to continue working. His paychecks from Degrassi were the only source of money for his family for a number of years. At that time, he was receiving a salary from the show of fifty thousand dollars per year. After accounting for taxes, that comes out to almost $2,000 each month. The following is how he would later characterize this time period:
“It was a very difficult time for my mother. We were incredibly impoverished, practically broke. The only income I had was from Canadian television, and that was it.”
In 2006, Aubrey, who was by this time using his middle name, “Drake,” as his stage name, began producing mixtapes. He was inspired to do so by rap giants such as Jay-Z who obtained record agreements after becoming popular as independent artists.
His debut mixtape, titled “Room for Improvement,” was made available for download on his website and official MySpace page in February of 2005. He was successful in selling over 6,000 copies of the book on his own. The following year, he distributed his second mixtape under the title “Comeback Season.” He distributed the mixtape through his freshly established record company, which goes by the name October’s Very Own (aka OVO Records). The song “Replacement Girl” was featured on this mixtape, and it went on to become a hit in the underground music scene. The music video for the song was the first video from a Canadian rapper who was not signed to a record label to be broadcast on BET. One of the versions of the song used a sample from the song “Man of the Year” by Brisco, Flo Rida, and Lil Wayne that had been cut and pasted into it.
Jas Prince, a producer located in Houston and the founder of Rap-A-Lot Records, was listening to the record when he decided to share it with Lil Wayne. Drake was blown away by Lil Wayne’s performance, so Wayne contacted him and invited him to join him on the Tha Carter III tour in Houston. Throughout the course of the tour, Drake and Wayne penned and recorded a number of songs, some of which include “Brand New,” “Forever,” and “Ransom.”
You might think that Drake had already signed with Wayne’s record label by this point, but that is not the case. In 2009, he issued his third mixtape under the title “So Far Gone.” The mixtape was made available for free download on his OVO website after it was launched by him. Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B were among the artists who made cameos on the mixtape. The mixtape was eventually certified Gold by the RIAA and reached its highest position on the Billboard Hot 100 after it was downloaded a total of 2,000 times during its first hour of availability. The mixtape was subsequently published as an extended play (EP), and it achieved a debut position of number six on the Billboard 200 chart. Additionally, it was awarded the 2010 Juno Award for Rap Recording of the Year.
Drake, who maintained his status as an independent artist, was increasingly in demand within the music industry. After that, there was a heated competition among different record labels to sign him. The urgency has been described as “the largest bidding war in the history of music,” yet there is no evidence to support this claim.
On June 29, 2009, Drake became a member of Lil Wayne’s Young Money Entertainment by signing a contract with the company. In reality, the record agreement was a joint venture between Young Money and Cash Money, Young Money’s parent company, and Universal Music, which was in charge of distribution.
On June 15, 2010, Drake issued his first studio album under his own name, titled “Thank Me Later.” Both in Canada and the United States, the album reached number one. In the United States, it reached number one on the Billboard 100 chart, number one on the R&B/Hip Hop charts, and number one on the US Rap charts. The RIAA ultimately bestowed upon it the Platinum certification.
His second studio album, “Take Care,” was released in 2011 and likewise debuted at number one in multiple countries and on several charts. The album eventually went six times platinum.
After then, every album that was released was certified platinum at least four times over.
Drake is one of the most popular artists in hip-hop and one of the most influential figures in the music business as a whole. He has collaborated with dozens of the most famous musicians in the industry, including Kanye West, Eminem, Jay-Z, and Travis Scott, among others. Drake has been put forward for a plethora of award nominations. As of the time this article was written, he has been awarded more than 180 significant accolades, including four Grammys, out of a total of more than 40 nominations.
Each of Drake’s concerts brings in roughly one million dollars.
Sales of Singles
Drake has broken the record for most digital singles sold by any artist in the history of music. As of the time of this writing, he has made more than 163 million dollars off of the sale of digital singles. That is an increase of 40 million more than Rihanna, who comes in second place. According to estimates, has sold over 26 million records throughout his career, placing him at position 80 on the all-time list of musicians with the most record sales. This places him in third place among all Canadian musicians in terms of record sales, after only Celine Dion (48 million) and Shania Twain (48 million) (50 million).
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Drake was born in Canada, but he has made Hidden Hills, California his home since 2012 when he purchased a huge estate from the former owner of Los Angeles’ Saddle Ranch Bar for a cash price of $7.7 million. The mansion was previously owned by the Saddle Ranch Bar. The property, which has been given the moniker the YOLO Estate due to its various dwellings, has a main house that is 12,000 square feet and a party house that is 2,000 square feet. Equestrian stables, a movie theatre with seating for 25, a full-sized basketball court, a sand volleyball court, and one of the largest privately-owned pools in Southern California are all included in the estate. His pool resembles a lagoon, and it wraps around the exterior of the house. It has multiple waterfalls, a swim-up bar, a water slide that is 80 feet long, and a grotto that is designed in the form of a Playboy mansion.
After doing a search on Google for the “craziest residential swimming pools,” Drake mentioned in an interview with Rolling Stone that one of the reasons he has had his eye on this home for so long is because it was one of the results. Over the course of several years, he kept a picture of the swimming pool as the background image on his computer to serve as inspiration. The previous owner put the home up for sale in 2009 for a price of $27 million. In 2012, the previous owner was having trouble making ends meet, so Drake pounced on the opportunity and purchased the property for $7.7 million:
In 2015, he increased the size of his home by purchasing the adjacent estate, which included 1.6 more acres and cost $2.8 million. In 2018, he spent another $4.5 million to acquire an adjacent home, which allowed him to further extend the boundaries of the property. His private estate currently consists of 6.7 acres of continuous land that is located at the end of a cul-de-sac. The costs associated with the acquisition of this land alone total $15 million.
In March of 2022, Drake put the YOLO Estate up for sale with a price tag of $22.7 million. One further option for a buyer is to purchase only the primary residence for $14.8 million.
In 2016, Drake purchased a piece of land in the Bridle Path neighborhood of suburban Toronto for a price that was approximately $6.7 million. On the grounds of two acres, he then constructed a home that was 50,000 square feet in size. The home includes a garage that can fit 10 cars, a basketball court that is NBA regulation size, a gym, an awards room, and many other amenities. Simply the master bedroom takes up 3,200 square feet of the total space.
On March 8, 2022, it was reported that Drake had reached an agreement to purchase the 20-acre Beverly Hills mansion owned by British musician Robbie Williams. The amount that Drake spent for a record in a private transaction? According to a person who was interviewed by the LA Times, the amount is somewhere about $70 million.
In addition, he is the proud owner of an apartment in the heart of Toronto.
At the very least, Drake’s real estate holdings are worth a total of one hundred million dollars.
Drake shared a video on Instagram in May 2019 that unveiled his recently purchased Boeing 767 private plane, which he has christened (and painted) “Air Drake.” According to the contents of the video, Drake is quite pleased with the fact that he is the only owner of the jet and boasts that there is “no renting, no timeshare, and no co-owners.” A high-quality private jet of a comparable kind would be worth between $75 and $100 million.
Milestones in Drake’s Career and Net Worth
Drake was listed to Celebrity Net Worth for the first time in November 2009, and our original estimate of his net worth was one million dollars. Only a few short months ago, he had inked a deal with Lil Wayne’s Young Money label. His wealth had surpassed $25 million by the year 2012. By 2014, he had amassed more than $45 million. Late in 2016, he became the first person in history to earn more than $80 million. Because of the fantastic earnings, he had in the vicinity of $100 million in 2017, he easily surpassed $100 million by the beginning of 2018. The month of May 2019 marked the first time that his net worth surpassed $150 million.
Throughout the years, Drake has worked with a wide variety of well-known companies, the most notable of which are Sprite, Burger King, Whataburger, Nike, and Apple. Drake agreed to an exclusivity deal with Apple Music for $19 million when it first launched. As a result of this contract, Apple is now able to serve as the initial exclusive home for all of Drake’s future solo releases.
OVO Sound is Drake’s personal record label, which he established in 2012 and licensed to Warner Bros. Records for distribution. Today, in addition to representing Drake’s music, OVO Sound represents the work of singers such as PartyNextDoor, Majid Jordan, and Kash Doll, as well as producers like Boi-1da, Future the Prince, and Mike Zombie, amongst others.
The Toronto Raptors have named him their “global ambassador,” and he also co-hosts an annual Drake Night event with the team.
In 2016, Drake introduced his own brand of whiskey, called Virginia Black, which is based on bourbon. After only one week in business, the company has already racked up 4,000 sold bottles. In the latter part of the year, the corporation dispatched an additional thirty thousand units.
The “Away From Home Tour” was Drake’s first headlining tour, and it took place in 2010. He has embarked on five more headlining tours that will continue until 2019. In addition to that, he has co-headed four tours, one of which was in 2018, and was with the rap trio Migos.
His “Summer Sixteen Tour” in 2016 had a total gross of $84.3 million off of 54 gigs, making it the highest-grossing hip-hop tour of all time up to that point in history. That comes out to an average gross of 1.56 million dollars for each concert. This record was surpassed in 2018 with his co-headlining tour with Migos, which grossed $80 million over the course of 43 shows. That comes out to an average of 1.86 million dollars in revenue for each show.
OVO Fest is a music festival that Drake throws in Toronto every summer. Tickets to the event are in high demand and sell out almost immediately.
A single performance for Drake at the XS Nightclub in Las Vegas, where he currently holds a residency, can easily make him $500,000 in revenue for the night. Now, he makes more than $2 million for a show that is considered to be more formal.
Over the course of his career, Drake has been in a number of high-profile partnerships. Between the years 2009 and 2016, he had a sporadic relationship with Rihanna. In a subsequent conversation, he would refer to Rihana as “the woman I’ve been in love with ever since I was 22 years old.”
The French model, actress, and artist Sophie Brussaux gave birth to her first child, a son named Adonis, in October 2017. 2018 was the year that Drake finally acknowledged he was a father.