Drake Net Worth (Money & Salary)
Title: Drake Net Worth (Money & Salary)
Last Updated: December 6, 2024
What is Drake’s Net Worth?
A net worth of $250 million belongs to Drake, a Canadian actor, producer, and rapper. He regularly ranks among the highest-paid entertainers globally. Drake’s journey began in acting with a role in the popular Canadian TV series, “Degrassi: The Next Generation.” However, it was through music that he achieved international fame, having been continuously writing and recording successful tracks since 2006. His debut studio album, “Thank Me Later,” debuted at #1 on the hip-hop charts in 2010, marking the beginning of an unceasing career. He has undertaken numerous tours, made appearances on various music programs and awards shows, and concentrated on expanding his fan base to the fullest extent.
Since achieving mainstream success, Drake’s career earnings exceed $430 million, not accounting for taxes or lifestyle expenses.
Between June 2017 and June 2018, he generated $45 million. For the entirety of 2017, his income reached $95 million. From June 2018 to June 2019, his earnings totaled $75 million, followed by $50 million in the subsequent 12 months. A detailed year-by-year summary of Drake’s annual earnings can be found below.
Universal Music Group Contract
In May 2022, during the company’s Q1 earnings call, Universal Music Group announced the renewal of Drake’s contract for a “long-term worldwide partnership.” This comprehensive agreement covered everything from “recorded music to music publishing, film, television, and brands.” Drake has referenced this deal in some of his lyrics, including a mention of signing a deal with “360 up front.” Following Universal’s confirmation, some interpretations of that lyric suggest he received $360 million upfront. Other estimates place the overall worth of the agreement at $400 million or more. Prior to the deal, Drake’s music catalog was already yielding $50 million annually for the company.
If the deal was accurately valued at $400 million, after taxes, it’s theorized that Drake would have received $200 million upfront.
Early Life
Born Aubrey Drake Graham on October 24, 1986, in Toronto, Canada, Drake’s father, Dennis, was a drummer who collaborated with notable musicians like Jerry Lee Lewis. His mother, Sandra, also known as Sandi, was an English teacher and florist. Drake had his formal Bar Mitzvah celebration while attending a Jewish day school.
When Aubrey was five, his parents divorced. His father then relocated to Memphis, where he faced arrest and imprisonment for several years due to drug charges. Aubrey stayed with his mother in Toronto but visited his father in Memphis each summer when his father was free. Drake later described his father’s absence during childhood, a claim that Dennis has strongly refuted, insisting such narratives have been exaggerated for promotional purposes.
Drake and his mother lived in the bottom part of a two-story townhome in a well-off suburb known as Forest Hill, starting in sixth grade. They resided in a single lower-level unit, with his mother above and Drake in the basement. Financially, they were not well-off, and times were often tough.
While attending Forest Hill Collegiate Institute, Drake discovered a passion for acting and singing. Later, he enrolled at Vaughan Road Academy, where his biracial and religious identity led to bullying. Although he temporarily dropped out, he did manage to graduate in 2012.
Degrassi
At the age of 15, a childhood friend’s father, an acting agent, facilitated Drake’s entry into the long-running Canadian teen drama series “Degrassi: The Next Generation,” where he portrayed Jimmy Brooks, a basketball player who…
disabled after a classmate shot him. He participated in seasons 1 through 7, and made guest appearances in 2008.
During his time on Degrassi, his mother fell ill and could not hold a job. For several years, their only income came from his Degrassi paychecks. At the time, his earnings from the show amounted to $50,000 annually, which averages to approximately $2,000 each month after taxes. He would later describe this challenging period as:
“My mother was very sick. We were very poor, like broke. The only money I had coming in was off of Canadian TV.“
Music Career
His initial mixtape, titled “Room for Improvement,” was launched in February 2005 through his website and official MySpace page, where he sold over 6,000 copies. The following year, he released “Comeback Season,” through his newly established label, October’s Very Own (OVO Records). This mixtape included what would become an underground hit known as “Replacement Girl.” Its music video marked the first time a video from an unsigned Canadian rapper appeared on BET. One version of the track incorporated a spliced sample from “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.
The single caught the attention of Houston-based producer and Rap-A-Lot Records founder Jas Prince, who then passed it along to Lil Wayne. Impressed, Lil Wayne reached out to Drake, inviting him to Houston to join his Tha Carter III tour. Throughout the tour, Drake and Wayne collaboratively wrote and recorded several tracks, including “Brand New,” “Forever,” and “Ransom.”
Young Money Entertainment
Contrary to popular belief, Drake had not yet signed with Wayne’s record label during this time. In 2009, he released a third mixtape, “So Far Gone,” making it available as a free download on his OVO website. This mixtape featured contributions from Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B. After being downloaded 2,000 times within the first hour, it eventually achieved Gold status from the RIAA and peaked at #2 on the Billboard Hot 100. It was later released as an EP, debuting at #6 on the Billboard 200 and winning the 2010 Juno Award for Rap Recording of the Year.
Still operating as an independent artist, Drake became highly sought after in the music industry, leading to a bidding war among various labels trying to sign him. This situation has been dubbed “the biggest bidding war in music history,” although that claim lacks confirmation.
On June 29, 2009, Drake entered into a contract with Lil Wayne’s Young Money Entertainment. This record deal was a joint venture between Young Money and its parent company, Cash Money, with Universal Music handling distribution.
(Photo by Frazer Harrison/Getty Images)
Mainstream Success
Drake’s debut studio album, “Thank Me Later”, wasreleased on June 15, 2010, the album reached #1 in both Canada and the US. It topped the Billboard 100 in the US, along with securing the #1 spot on the R&B/Hip Hop and US Rap charts. Eventually, it received a Platinum certification by the RIAA.
His second studio album, “Take Care,” which was released in 2011, also attained #1 rankings across multiple countries and charts, ultimately achieving 6-times Platinum status.
Every subsequent album has achieved at least 4-times Platinum certification.
Drake stands out as one of the most influential and successful figures in hip-hop and the broader music industry. He has collaborated with many of the biggest names in music, including Kanye West, Eminem, Jay-Z, and Travis Scott. With numerous nominations under his belt, as of now, he has clinched more than 180 major awards, including four Grammys from over 40 nominations.
His concerts generate approximately $1 million in revenue each.
Singles Sold
Drake holds the record for the most digital singles sold by any artist in history. As of now, he has sold over 163 million digital singles, surpassing the second-place holder, Rihanna, by 40 million. Regarding album sales, he ranks as the 80th highest-selling musician ever, with an estimated 26 million albums sold. This places him as the third best-selling Canadian musician in history, following Shania Twain (48 million) and Celine Dion (50 million).
Drake’s Earnings By Year
- 2010: $10 million
- 2011: $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
- 2021: $40 million
- 2022: $30 million
Total: $503 million
(Photo by Christopher Polk/Getty Images)
YOLO Estate
Although born in Canada, Drake began calling Hidden Hills, California, his home in 2012 when he purchased a lavish mansion from the former owner of Los Angeles’ Saddle Ranch Bar for $7.7 million in cash. Known as the YOLO Estate, this property boasts multiple residences, including a main house that spans 12,000 square feet and a party house measuring 2,000 square feet. Among its features are equestrian stables, a theater accommodating 25 people, a full-sized basketball court, a sand volleyball court, and one of the largest privately owned pools in Southern California. The lagoon-like pool encircles the house and boasts multiple waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy Mansion.
In an interview with Rolling Stone, Drake shared that he had coveted this mansion for years after discovering it while searching for “craziest residential swimming pools” online and including its image as a motivational background on his computer for many years. Initially listed for $27 million in 2009, the previous owner faced financial difficulties by 2012, allowing Drake to purchase it at a significantly reduced price of $7.7 million.
In 2015, he expanded his estate by acquiring a neighboring 1.6-acre property for $2.8 million. In 2018, he further extended his property…
Spending $4.5 million again, he acquired yet another neighboring house, now extending his private estate to 6.7 acres of contiguous property situated at the end of a cul-de-sac, which amounts to $15 million in real estate acquisition costs alone.
In March 2022, Drake listed the YOLO Estate for $22.7 million, with the primary mansion available for $14.8 million as an option for buyers.
NFL star Matthew Stafford paid $11 million (which is $3.6 million over the asking price) in April 2022 for two of the three estates that previously formed the YOLO Estate, excluding the primary “YOLO” mansion. The third parcel was bought by another buyer for $12 million in July 2022.
Check out the video showcasing the entire three-estate property:
Toronto Mansion
In 2016, Drake invested $6.7 million in a plot of land located in the Toronto suburb known as The Bridle Path, where he subsequently constructed a 50,000-square-foot mansion on the two-acre property. This residence boasts a 10-car garage, a regulation-size NBA basketball court, a gym, an awards room, and many other features, including a master bedroom of 3,200 square feet.
Additionally, he owns a condo in downtown Toronto.
$90 Million Beverly Hills Mansion
It was reported on March 8, 2022, that Drake finalized the purchase of British singer Robbie Williams’ expansive 20-acre mansion in Beverly Hills for $75 million through an off-market deal. Prior to Robbie Williams, the estate belonged to Guess? clothing brand co-founder Armand Marciano. Drake acquired the property via a corporate entity named 11Kip, LLC, taking out a $52.5 million mortgage from Bank of America, which meant he invested $22.5 million in cash, precisely 30% of the total.
A little over a year after purchasing the Beverly Hills property for $75 million, in May 2023, Drake listed it for sale at $88 million, and again in May 2024 for the same price. Watch a video tour of Drake’s Beverly Hills mansion:
300+ Acre Texas Estate
Drake acquired a 313-acre property previously known as The Inn at Dos Brisas, now referred to as Dos Brisas Ranch, for $15 million in October 2023. Initially a private compound for a wealthy family in the early 2000s, the estate transformed into a resort in 2004, enjoying considerable success and notable recognition.
However, like many hospitality ventures, The Inn faced significant challenges due to COVID-19 and permanently closed its doors in 2022. The estate entered the market in April 2022 for $17.5 million, subsequently reducing the price to $15 million in May 2023. In October 2023, Drake purchased the property for an undisclosed sum exceeding $10 million. Here’s a video tour:
Air Drake Private Jet
In May 2019, Drake unveiled his newly-acquired Boeing 767 private jet on Instagram, which he named (and decorated) “Air Drake.” The video showcased his pride in owning the jet outright, declaring that it belongs to him alone with “no rental, no timeshare, no co-owners.”
A private jet of comparable model and quality would hold a value ranging from $75 to $100 million.
(Photo by Tom Szczerbowski/NBAE/Getty Images)
Milestones in Drake’s Net Worth
Drake was first included in Celebrity Net Worth in November 2009, with a net worth estimate of $1 million. This followed his signing with Lil Wayne’s Young Money a few months prior. By 2012, he had exceeded a net worth of $25 million. In 2014, it surpassed $45 million. Late in 2016 saw him exceed $80 million for the first time. Thanks to earnings approaching $100 million in 2017, by early 2018, he crossed the $100 million mark. May 2019 marked his net worth breaking $150 million for the first time.
Entrepreneurial Endeavors
Throughout the years, Drake has been an endorser for numerous prominent brands such as Sprite, Burger King, Whataburger, Nike, and Apple, most notably. Upon the launch of Apple Music, Drake signed a $19 million exclusivity agreement, making Apple the sole initial home for all of his upcoming solo releases.
Drake established his own record label, OVO Sound, in 2012, which is distributed by Warner Bros. Records. In addition to Drake, OVO Sound currently represents artists like PartyNextDoor, Majid Jordan, and Kash Doll, along with producers such as Boi-1da, Future the Prince, Mike Zombie, and others.
He serves as the “global ambassador” for the Toronto Raptors, hosting an annual Drake Night with the team.
In 2016, he launched a bourbon-based whiskey brand named Virginia Black. Within the first week of its launch, the company sold 4,000 bottles, followed by an additional 30,000 units shipped later in the year.
Concert Tours
Drake’s debut headline tour was the 2010 “Away From Home Tour.” He went on to undertake five more headline tours by 2019. Additionally, he co-headlined four tours, including a 2018 tour with the rap group Migos.
The “Summer Sixteen Tour” in 2016 became the highest-grossing hip-hop tour ever at that time, generating $84.3 million across 54 shows—averaging $1.56 million per concert. This record was later surpassed by the co-headlining tour with Migos in 2018, which earned $80 million over 43 dates, averaging $1.86 million per concert.
Drake hosts a festival every summer in Toronto known as “OVO Fest,” which sells out almost instantly.
He has an ongoing residency at the XS Nightclub in Las Vegas, where he can earn upwards of $500,000 per appearance. For formal concerts, he now receives over $2 million.
Life Beyond Music
Drake has been involved in several high-profile relationships throughout his career. His on-and-off relationship with Rihanna lasted from 2009 to 2016, during which he referred to her as “the woman I’ve been in love with since I was 22 years old.“
In October 2017, French model, actress, and artist Sophie Brussaux gave birth to his son, Adonis, although Drake did not confirm his fatherhood until 2018.
Drake Net Worth (Money & Salary)
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The data covers 2023 and 2024, with projections extending to 2025 and 2026. We further extend the forecasts to include 2027 and 2028.
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Post Title: Drake Net Worth (Money & Salary)
Last Updated: December 6, 2024