How Drake Became One of the Wealthiest Hip-Hop Artists with a $250 Million Net Worth (2024)

With five studio albums under his belt, Drake has sold over 16 million copies worldwide.

Name	Aubrey Drake Graham
Net Worth	$250 Million
Salary	$70 Million Annually
Sources of Income	Music Composing, Production, and Rapping
Gender	Male
Date of Birth	October 24, 1986
Age	37 years old
Nationality	Canada
Profession	Actor, Singer, Songwriter, Rapper, Voice Actor, Composer, Record producer

Drake's net worth

Drake, the Canadian rapper, singer, songwriter, and actor, has not only dominated the music industry but has also built an impressive financial empire. With a net worth estimated at $250 million, he ranks among the wealthiest hip-hop artists globally. Drake continues to make waves in the music industry with his releases and collaborations. His latest singles and albums like "Certified Lover Boy" and "Rich Flex" have garnered significant attention and commercial success.

How Drake Became One of the Wealthiest Hip-Hop Artists with a $250 Million Net Worth (1)

Drake's early life and biography

Aubrey Drake Graham, born on October 24, 1986, in Toronto, Canada, faced a challenging early life marked by his parents' divorce when he was five. Raised by his mother Sandra due to his father's incarceration on drug charges, Drake and his mom lived in modest circ*mstances in an affluent suburb. Despite financial struggles, Drake discovered his passion for acting and singing during his time at Forest Hill Collegiate Institute and Vaughan Road Academy. Drake's journey took a significant turn at the age of 15 when a friend's father, an acting agent, helped him secure a role on the Canadian teen drama "Degrassi: The Next Generation." On the show, he portrayed Jimmy Brooks, a basketball star who becomes disabled after a classmate shoots him. His earnings from "Degrassi" became crucial for his family as his mother battled illness and couldn't work. During this period, Drake earned $50,000 annually, providing a lifeline for their financial stability.

How Drake Became One of the Wealthiest Hip-Hop Artists with a $250 Million Net Worth (2)

What are Drake's sources of income?

Drake's impressive net worth is a result of various income sources that highlight his diverse career. The bulk of his earnings, around $120 million, comes from selling his albums and music. His electrifying concerts and tours contribute an additional $70 million, while endorsem*nt deals with major brands like Nike and Apple bring in a solid $30 million. Not to be overlooked are his business ventures, such as the OVO Sound record label and a successful clothing line, which collectively add $25 million to his wealth. Acting roles and involvement in merchandise and a YouTube venture contribute a noteworthy $5 million and $10 million, respectively.

A pivotal moment in his financial journey was a long-term worldwide partnership with Universal Music Group, reportedly valued at $400 million. This comprehensive deal covers everything from recorded music to publishing, film, television, and brands. Drake's earnings before taxes, including this significant deal, have surpassed $430 million since gaining mainstream success. Breaking down his annual earnings, between June 2017 and June 2018, Drake amassed $45 million, followed by a staggering $95 million in 2017. In the subsequent years, he continued to maintain substantial income, earning $75 million from June 2018 to June 2019 and $50 million in the following 12-month period.

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Drake's music career and chart-topping hits

Drake's musical journey began in 2006, inspired by icons like Jay-Z who achieved success as independent artists. He kicked off with mixtapes such as "Room for Improvement" and "Comeback Season," showcasing his talents and entrepreneurial spirit through his label, October's Very Own (OVO Records). The mixtape "So Far Gone" marked a turning point, gaining significant popularity and triggering a bidding war among record labels. In 2009, Drake inked a deal with Young Money Entertainment, a collaboration with Cash Money and Universal Music. His debut album, "Thank Me Later," made a splash, claiming the top spot on charts in both Canada and the US. Subsequent albums, notably the 6-times Platinum "Take Care," solidified Drake's status as a hip-hop powerhouse. Beyond music, Drake's influence extends to entrepreneurship, with his successful OVO brand and forays into film.

Collaborating with industry heavyweights like Kanye West and Jay-Z, Drake amassed over 180 major awards, including four Grammys, showcasing his impact on the music industry. His entrepreneurial ventures, including a clothing line and his involvement in movies, reflect a multifaceted career. Drake commands a significant presence in the business, grossing approximately $1 million per concert.

Drake's acting career, filmography and endorsem*nts

Before entering the music industry, Drake gained recognition as an actor on the hit TV show, "Degrassi: The Next Generation." But Insider reported that he was "kicked off" the show due to his hectic schedule. He later transitioned into films with appearances in movies like "Ice Age: Continental Drift" and "Think Like A Man Too." While his acting career has seen its ups and downs, it has contributed to his overall popularity and earnings. Beyond music and acting, he co-founded the OVO, a lifestyle brand, his record label, clothing line and music festival. In the business world, Drake's Virginia Black bourbon-based whiskey and collaborations with powerhouse brands like Nike and Air Jordan have expanded his influence. The launch of Air Jordan OVOs and the introduction of sublabels like Nocta demonstrate his impact on fashion and footwear.

His keen eye for promising companies has proven to be lucrative. Drake's endorsem*nt deals and partnerships with companies like Nike, Apple, Whataburger, Burger King and Sprite have also contributed to his wealth, the exclusive deal with Apple Music was reportedly worth $19 million. He has also been associated with the Toronto Raptors as a global ambassador since 2013. The co-founding of DreamCrew production company in 2017 has led to the creation of acclaimed shows like Euphoria and Top Boy. Further diversifying, Drake invested in the gaming industry by acquiring ownership stakes in 100 Thieves in 2018. Additional ventures include collaborations with BAPE, scented candles with Revolve, and a unique collaboration with Mike Tyson in 2022, where special edition OVO owl silhouette branded jerseys were launched.

Drake's real estate assets

Drake, with his illustrious career and substantial earnings, indulges in a lavish lifestyle characterized by opulent real estate, a stunning car collection, and exquisite jewelry. The Grammy-winning artist owns a $7.7 million estate in Hidden Hills, California, showcasing his penchant for high-end living. In February 2022, he added to his property portfolio with a $70 million house in Beverly Crest. Drake's real estate ventures also include strategic sales, such as an English Tudor-style mansion purchased in 2012 and later sold, as well as ranch houses acquired in 2015 and 2018.

Drake's fancy cars and valuable collectibles

Known for his love of rare and customized cars, Drake boasts an impressive collection that includes a Bentley Continental GTC, Bentleys, Mercedes, Lamborghini, Rolls-Royce, and the exceptionally rare 499 Ferrari LaFerrari, valued at over $3 million. His enthusiasm for exclusive vehicles extends to the skies, as he owns a customized Boeing 767 jet, bearing the logo "Air Drake." This private jet, estimated at $185 million, was transformed into a luxurious space with leather armchairs, wide-screen TVs, and lavish bathrooms. Drake's extravagant lifestyle extends to his jewelry collection, intertwining with his fashion brand, October's Very Own (OVO). His custom-made chains and necklaces, each valued at around $100,000, bear the emblem of OVO.

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Instagram	144 Million Followers
Twitter	39.3 Million Followers
Facebook	52 Million Followers

Drake's earnings per year

Net worth in 2018	$47 million
Net worth in 2019	$75 million
Net worth in 2020	$50 million

Drake's personal life and philanthropy

Drake has often found his personal life under the scrutiny of the public eye, his high-profile relationship with Rihanna from 2009 to 2016 stirred headlines, marked by intense chemistry both on and off the stage. In an unexpected twist, Drake embraced fatherhood when French model Sophie Brussaux announced the birth of their son, Adonis, in 2017. Initially private about his new role, Drake later confirmed his fatherhood in his 2018 album "Scorpion." Presently, he shares glimpses of his life as a devoted father on social media, highlighting the profound bond he has with Adonis. Amid his immense financial success, Drake is also known for his philanthropic efforts. He has been actively involved in giving back to the community and supporting various charitable causes. From scholarships for students to supporting youth programs and charitable organizations, Drake has used his wealth and influence to make a positive impact on society. In 2020, he provided financial assistance to individuals and families affected by the COVID-19 pandemic.

Drake's controversies

Drake's journey has been punctuated by a series of controversies and legal entanglements. From a 2009 gunpoint robbery in Toronto to legal battles over alleged unauthorized use of voices and music, including suits from Ericka Lee and Jimmy Smith's estate, Drake has navigated legal challenges. In 2017, an assault case was filed against him by Noel Fisher. The rapper has been involved in well-publicized feuds with the likes of Chris Brown, Diddy, Joe Budden, and Kanye West, as well as alleged disputes with several other prominent figures in the music scene.

Drake's awards

Grammy Awards

- Best Rap Song (2019, 2017)

- Best Rap Album (2013)

- Best Melodic Rap Performance (2017)

American Music Awards

FAQs

Is Drake a billionaire?

No, Drake has an estimated worth of $250 million in 2023.

How much money does Drake have?

Drake’s net worth in 2023 is $250 Million.

How much money has Drake made in total?

He's made a total of $433 million.

What is Drake's main income source?

Drake’s main sources of income are his music sales, his touring, and his endorsem*nt deals. He also makes money from his acting career and his businesses.

What made Drake so rich?

Drake built his fortunethrough acting and music, but most of his wealth comes from his music career as a top-selling rap artist.

What is Drake's most popular song?

Drake’s most popular song is “One Dance” (2016).

How old is Drake and is Drake Jewish?

Drake is 37 years old and he is Jewish.

Is Drake married and what is Drake's real name?

Drake's real name is Aubrey Drake Graham and he hasn't tied the knot yet.

How tall is Drake and where is Drake from?

The 1.82 m rapper is from Toronto, Canada

Is Drake Canadian or American?

Drake is Canadian.