Drake Net Worth (Money & Salary)
Drake Net Worth (Money & Salary)
October 31, 2024
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Exploring Drake’s Net Worth
Drake, a multifaceted talent originating from Canada, is recognized as an actor, producer, and rapper with an impressive net worth of $250 million. Continuously ranking among the highest-paid entertainers globally, Drake kickstarted his career in acting with a notable role in the popular Canadian TV series, “Degrassi: The Next Generation.” However, it was his music endeavors that propelled him to international stardom. Since 2006, Drake has consistently produced hit tracks, with his debut album, “Thank Me Later,” claiming the top spot on the hip-hop charts in 2010. His dedication to touring, appearances on music platforms and award ceremonies, and the cultivation of a vast fan base have been central to his thriving career.
Accumulating over $430 million in earnings since his initial mainstream breakthrough, Drake’s financial success continues to soar, pre-tax and accounting for lifestyle expenses.
Between the periods of June 2017 to June 2018, Drake amassed $45 million, followed by a total of $95 million in 2017. Subsequently, from June 2018 to June 2019, his earnings reached $75 million, which slightly decreased to $50 million in the subsequent 12 months. A detailed breakdown of Drake’s annual income over the years can be found below.
Insight into the Universal Music Group Agreement
During Universal Music Group’s Q1 earnings call in May 2022, the company officially announced the prolonged partnership with Drake on a global scale. This comprehensive deal encompassed various facets, ranging from recorded music to music publishing, film, television, and brand collaborations. Drake hinted at this collaboration in his lyrics, referencing a deal that entailed “360 up front.” Following Universal’s confirmation, speculations arose, suggesting the upfront payment in the agreement could be as substantial as $360 million. Other estimates proposed figures exceeding $400 million for the deal’s value. Notably, prior to this contract, Drake’s music catalog alone was generating an annual revenue of $50 million for the company.
If assuming the contract’s value stood at $400 million, Drake would have theoretically received $200 million post-tax upfront.
Formative Years
Aubrey Drake Graham, born on October 24, 1986, in Toronto, Canada, entered the world of entertainment. Drake’s father, Dennis, a drummer who collaborated with notable musicians like Jerry Lee Lewis, and his mother, Sandra, also known as Sandi, an English teacher and florist, significantly influenced his upbringing. Despite facing challenges such as his parents’ separation when he was five and his father’s subsequent legal issues, Drake maintained a bond with both parents. Raised in modest circumstances within the Forest Hill area of Toronto, Drake’s interest in acting and music burgeoned during his schooling years at institutions like the Forest Hill Collegiate Institute and Vaughan Road Academy.
His experience on the TV show “Degrassi: The Next Generation” at the age of 15 helped support his family financially during a challenging period when his mother fell ill. The payments from his role on the show, amounting to $50,000 yearly after taxes, served as their primary income. Reflecting on this time, Drake expressed, ““My mother was very sick. We were very poor, like broke. The only money I had coming in was off of Canadian TV.”
Melodic Journey
Inspired by the successes of rap icons such as Jay-Z, Drake embarked on his musical voyage by releasing mixtapes starting from 2006. His initial mixtapes, “Room for Improvement” and “Comeback Season,” garnered attention, with the latter featuring his popular track “Replacement Girl.” An encounter with Houston-based producer Jas Prince changed his trajectory as he connected with Lil Wayne, leading to collaborative projects like “Brand New” and “Forever.”
An Alliance with Young Money Entertainment
Prior to joining Young Money Entertainment under Lil Wayne’s mentorship, Drake released the successful mixtape “So Far Gone” in 2009. This project, tagged as an EP, achieved remarkable success, fueling interest from various labels eager to sign him. Eventually, on June 29, 2009, Drake inked a deal with Young Money Entertainment, a partnership involving Cash Money and the distribution prowess of Universal Music.
Drake’s Debut Album
On June 15, 2010, Drake released his debut studio album “Thank Me Later”. Notably, the album reached #1 in both Canada and the US, achieving top spots on various music charts. The album received platinum certification from the RIAA.
His second album, “Take Care” released in 2011, also claimed top positions on multiple charts and achieved a remarkable six-times platinum status.
Every subsequent album has attained no less than a quadruple platinum certification.
Recognized as one of the most influential figures in hip-hop and the music industry, Drake has collaborated with numerous renowned artists including Kanye West, Eminem, Jay-Z, and Travis Scott. His accolades include over 180 major awards, with four Grammy wins among them.
Drake’s concert earnings amount to approximately $1 million per show.
Selling Singles
Drake holds the record for the highest number of digital single sales, surpassing 163 million digital singles. This feat places him ahead of the second highest, Rihanna, by 40 million units. Notably, Drake ranks as the 80th best-selling musician of all time, with an estimated 26 million albums sold. Among Canadian musicians, he follows behind Shania Twain (48 million) and Celine Dion (50 million) in total album sales.
Earnings Timeline
- 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
YOLO Estate
Drake adopted Hidden Hills, California, as his primary residence in 2012 upon purchasing the YOLO Estate for $7.7 million. This sprawling property includes a 12,000-square-foot main house, a 2,000-square-foot party house, equestrian stables, a 25-person movie theater, a basketball court, a volleyball court, and one of Southern California’s largest private pools.
The pool, resembling a lagoon, boasts waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy Mansion. Drake’s desire for the estate’s pool was inspired by his years of using its image as motivation, with the former owner reducing the price significantly to $7.7 million from an initial $27 million listing.
In subsequent years, Drake expanded his estate by acquiring neighboring properties, totaling an impressive 6.7 acres at a cost of $15 million.
Drake listed the YOLO Estate for $22.7 million in March 2022. A buyer later acquired two out of the three parcels in April 2022 for $11 million each and the third parcel for $12 million in July 2022.
Watch a video showcasing the entire 3-estate property:
Toronto Mansion
In 2016, Drake invested $6.7 million to procure land in suburban Toronto’s The Bridle Path region. Subsequently, he built a massive 50,000-square-foot mansion on the two-acre property, featuring amenities such as a 10-car garage, a regulation-size basketball court, a gym, and an awards room. The lavish master bedroom alone spans 3,200 square feet.
Additionally, Drake possesses a condominium in downtown Toronto.
$90 Million Beverly Hills Mansion
During March 8, 2022, reports surfaced detailing Drake’s acquisition of the 20-acre Beverly Hills mansion formerly owned by British singer Robbie Williams. Drake secured the property for $75 million in a discreet off-market transaction. Before Williams, Armand Marciano, co-founder of Guess?, previously owned the estate. Drake’s purchase involved a $52.5 million mortgage with Bank of America, signifying a $22.5 million cash investment, precisely 30% of the property’s value.
Drake listed the Beverly Hills property for sale at $88 million in May 2023, maintaining the listing in May 2024. Here is a video tour of Drake’s Beverly Hills mansion:
300+ Acre Texas Estate
In October 2023, Drake acquired a 313-acre property in Texas, formerly known as The Inn at Dos Brisas, now transformed into Dos Brisas Ranch. Initially a private compound, the property served as a resort in the early 2000s, garnering widespread acclaim.
Due to the pandemic’s adverse effects on the hospitality industry, The Inn ceased operations permanently in 2022. Drake purchased the estate for an amount exceeding $10 million after its price drop to $15 million in May 2023. Enjoy a video tour of the estate:
Air Drake Private Jet
In May 2019, Drake shared a video on Instagram unveiling his newly-purchased Boeing 767 private jet, humorously dubbed and branded as “Air Drake”. Emphasizing full ownership, Drake expressed pride in owning the jet outright, without any rental or co-ownership implications. A comparable private jet of similar quality and specifications could value between $75 million to $100 million.