What is Drake’s Net Worth

Canadian-born actor, producer and rapper Drake boasts a net worth of $250 million, consistently ranking among the highest-paid entertainers in the world. Though he began his career as an actor on “Degrassi: The Next Generation”, it was music that made him a household name. Since 2006, Drake has been producing hit after hit, with his debut studio album, “Thank Me Later”, reaching #1 on hip-hop charts in 2010. Drake has been touring non-stop and building a wide fan base, earning over $430 million before taxes and lifestyle costs. In 2017 he earned a total of $95 million, while between June 2018 and June 2019, he earned $50 million.

Drake Signs Long-Term Partnership Deal with Universal Music Group

Universal Music Group has confirmed that it has signed a long-term worldwide partnership deal with Drake. The deal includes everything from recorded music to music publishing, film, television, and brands. The value of the deal has been estimated at $400 million or more, and some have speculated that Drake received $360 million upfront. Prior to signing, Drake’s music catalog alone had been generating $50 million per year in revenue for the company.

If the deal was indeed worth $400 million, after taxes, Drake would have theoretically been paid $200 million upfront after taxes. Drake has alluded to the deal in some of his lyrics, rapping about signing a deal that came with “360 up front.”

Early Life

Aubrey Drake Graham was born on October 24, 1986 in Toronto, Canada. His father Dennis was a drummer who played with musicians like Jerry Lee Lewis, while his mother Sandra worked as an English teacher and florist. Drake attended a Jewish day school and had a formal Bar Mitzvah celebration.

Drake’s parents divorced when he was five and his father moved to Memphis where he was arrested and incarcerated for several years on drug charges. Drake remained with his mother in Toronto where money was tight.

Despite financial difficulties, Drake developed an interest in acting and singing while attending Forest Hill Collegiate Institute and later Vaughan Road Academy where he was bullied for his bi-racial and religious background. He dropped out for a time, but eventually graduated in 2012.

Drake’s Early Career on “Degrassi”

At 15 years old, Drake landed a role on the Canadian teen drama “Degrassi: The Next Generation” with the help of a friend’s father who was an acting agent. He played Jimmy Brooks, a basketball star who became disabled after being shot by a classmate. Drake was a cast member for 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. Their only income for several years was the $50,000 per year salary Drake earned from the show, which was about $2000 per month after taxes. Drake later described this time period as being very difficult due to their financial struggles.

Drake’s Early Career

Drake began releasing mixtapes in 2006, inspired by rap icons like Jay-Z who earned record deals after becoming successful as independent artists. His first mixtape “Room for Improvement” was released in February 2005 and he managed to sell more than 6,000 copies directly. He released his second mixtape, “Comeback Season”, the following year through his own label October’s Very Own (aka OVO Records) featuring a hit underground single called “Replacement Girl”. Houston-based producer and Rap-A-Lot Records founder, Jas Prince, heard the single and passed it on to Lil Wayne. Lil Wayne was impressed and called Drake, inviting him to join his Tha Carter III tour. As the tour progressed, Drake and Wayne wrote and recorded several songs including “Brand New”, “Forever” and “Ransom”.

Drake Signs Record Deal with Young Money Entertainment

Drake released his third mixtape, “So Far Gone”, in 2009 as a free download on his OVO website. The mixtape featured appearances from various artists and was downloaded 2000 times in its first hour. It was eventually certified Gold by the RIAA and peaked 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.

As an independent artist, Drake was highly sought after in the music industry, resulting in a bidding war between various labels. He eventually signed a contract with Lil Wayne’s Young Money Entertainment on June 29, 2009. The record deal was a joint venture between Young Money and its parent company Cash Money, with Universal Music running distribution.

Drake’s Success in the Music Industry

Drake’s debut album “Thank Me Later” was released in 2010 and hit #1 in Canada and the US. His second studio album, “Take Care” also hit #1 in several countries and eventually went 6-times Platinum. Every album since has been at least 4-times Platinum. Drake is considered one of the most successful and powerful forces in hip-hop and the music industry at large. He has collaborated with numerous big-name artists including Kanye West, Eminem, Jay-Z, and Travis Scott. Drake has been nominated for and won over 180 major awards, including four Grammys from more than 40 nominations. He grosses approximately $1 million per concert.

Drake Breaks Digital Singles Record

Drake has become the best-selling digital singles artist in history, having sold over 163 million digital singles. His record-breaking sales are 40 million more than Rihanna, who comes in at second place.

While Drake’s album sales don’t quite match up to his digital singles success, he is still the 80th highest selling musician of all time with an estimated 26 million albums sold. In terms of Canadian musicians, Drake comes in at third place, following behind Shania Twain (48 million) and Celine Dion (50 million).

Drake’s Net Worth Over the Years

In 2010, Drake’s net worth was $10 million. The following year, it increased to $11 million. In 2012, his net worth skyrocketed to $21 million, but dipped back down to $11 million in 2013. However, in 2014, Drake’s net worth jumped to $33 million. It continued to grow in 2015 and 2016, remaining at $40 million for both years. Drake’s net worth reached a new high in 2017 with $95 million, but decreased to $47 million in 2018. The following year, in 2019, his net worth rose to $75 million. As of 2020, Drake’s net worth stands at $50 million, bringing his total net worth over the years to $433 million.

Drake’s YOLO Estate: A Multi-Million Dollar Property

Drake purchased his Hidden Hills, California estate in 2012 for $7.7 million in cash. The property, nicknamed the YOLO Estate, boasts a sprawling 12,000 square-foot main house, a 2,000 square-foot party house, equestrian stables, a 25-person movie theater, a full-sized basketball court, sand volleyball court, and one of the largest privately-owned pools in Southern California.

The lagoon-like pool features several waterfalls, a swim-up bar, an 80-foot water slide, and a Playboy-mansion style grotto. According to Drake, he had his eye on this mansion for years after Googling “craziest residential swimming pools” and seeing it as one of the results. The former owner listed the house in 2009 for $27 million but sold it to Drake at a discounted price due to financial difficulties.

Over the years, Drake expanded his property by buying the neighboring 1.6-acre estate for $2.8 million in 2015 and spending $4.5 million on another neighboring house in 2018. His private estate now encompasses 6.7-acres of contiguous property and represents $15 million in real estate acquisition costs alone.

In March 2022, Drake listed the YOLO Estate for $22.7 million, with the option to buy the primary mansion for $14.8 million. NFL star Matthew Stafford purchased two of the three estates for $11 million, while a buyer paid $12 million for the third parcel in July 2022.

Drake’s $6.7 Million Mansion in The Bridle Path

Drake purchased a plot of land in suburban Toronto’s The Bridle Path area in 2016 for $6.7 million. He built a 50,000 square-foot mansion on the two-acre property, featuring a 10-car garage, regulation-size NBA basketball court, gym, awards room, and much more. The master bedroom alone spans 3,200 square-feet.

Drake’s Downtown Toronto Condo

In addition to his mansion in The Bridle Path, Drake also owns a condo in downtown Toronto.

Drake Lists Beverly Hills Mansion for $88 Million

Less than two years after purchasing Robbie Williams’ 20-acre Beverly Hills mansion for $75 million, Drake has listed the property for sale at $88 million. The off-market deal made headlines in March 2022, with Drake securing the prestigious estate in an undisclosed transaction.

The mansion boasts a luxurious 25,000 square feet of living space, including seven bedrooms, 14 bathrooms, a gym, a movie theater, and a tennis court. It also features a two-story library, a recording studio, and a massive pool with a cascading waterfall.

Although Drake has not revealed his reasons for selling the mansion, real estate experts speculate that the Canadian rapper may be looking to invest in other properties or simply cash in on the rising demand for high-end homes in Los Angeles.

Drake Owns a $75-100 Million Private Jet

Drake revealed his newly-acquired Boeing 767 private jet in May 2019 via an Instagram video. The jet, which he has named “Air Drake,” is reportedly worth $75 – $100 million. According to the video, Drake is the sole owner of the jet and has no rental, timeshare, or co-owners.

Drake’s Net Worth Continues to Skyrocket

Since joining Lil Wayne’s Young Money in 2009, Drake’s net worth has seen significant growth. In just three years, his net worth jumped from $1 million to $25 million. By 2014, he had reached $45 million, and in 2016, he surpassed $80 million.

However, it was Drake’s earning in 2017 that pushed his net worth over the $100 million mark. And just two years later, in May 2019, his net worth broke $150 million for the first time.

Drake’s success as a rapper, singer, songwriter, and producer has undoubtedly contributed to his impressive net worth. He has won numerous awards, including four Grammys, and has sold over 150 million records worldwide.

Drake’s Endorsements and Business Ventures

Drake has endorsed major brands such as Sprite, Burger King, Whataburger, Nike, and Apple, with whom he signed a $19 million exclusivity deal for Apple Music. He also founded his own record label, OVO Sound, which includes artists PartyNextDoor, Majid Jordan, Kash Doll and producers Boi-1da, Future the Prince, Mike Zombie and more. Drake is the “global ambassador” of the Toronto Raptors and has launched his own brand of bourbon-based whiskey called Virginia Black, selling 4,000 bottles in its first week and shipping an additional 30,000 units later in the year.

Drake’s Tours and Residency

Since his first headline tour in 2010, Drake has embarked on five additional headlining tours and co-headlined four tours, including his 2018 tour with the rap group Migos. His 2016 “Summer Sixteen Tour” was the highest-grossing hip-hop tour of all time up to that point, with a gross of $84.3 million off 54 shows, while his Migos co-headlining tour broke that record in 2018 with $80 million in earnings over 43 dates.

Drake also puts on a festival in Toronto every summer called “OVO Fest” that sells out instantly. In addition, he has an ongoing residency at the XS Nightclub in Las Vegas that can easily earn him $500,000 for a single appearance. He now earns more than $2 million for a more formal concert.

Drake’s High Profile Relationships

Drake had an on-and-off relationship with Rihanna from 2009 to 2016. He once described her as “the woman I’ve been in love with since I was 22 years old.”

In 2017, French model/actress/artist Sophie Brussaux gave birth to Drake’s son, Adonis. Drake did not confirm his fatherhood until 2018.

You May Also Like