Psy Net Worth (Money & Salary)

Curious About Psy’s Net Worth?

Discover the net worth of Psy, a South Korean rapper who has accumulated a wealth of $60 million. Psy soared to international fame swiftly thanks to his infectious hit single and popular YouTube music video “Gangnam Style.”

For individuals outside South Korea, Park Jae-Sang, professionally known as Psy, emerged seemingly out of thin air. His immensely popular single “Gangnam Style” took the globe by storm and remains one of the most viewed videos on YouTube. Prior to amassing international success, he was deemed a controversial figure in Korea. The majority of K-pop stars exhibit intense beauty, youth, and top-tier training in music, dance, and acting. In contrast, Psy is older, fuller figured, dances in his unique style, dropped out of Berklee Music School, and frequently produces tracks with lyrics that either led to bans or carried an “Ages 19+ only” classification. Despite winning numerous music accolades, he faced strong opposition from several civil groups in Korea and faced substantial criticism.

Following his compulsory military service, Psy was notified that his term was invalid, necessitating an additional two years of service. Unable to pursue music, he faced financial hardship and eventually opted to join YG Entertainment, a prominent Korean music label owned by a friend. Other artists on the label initially opposed his affiliation with the company, which primarily catered to a youthful audience. However, their concerns proved unwarranted as the inaugural single from his second album with the label propelled him into global stardom.

What Earnings Did Psy Attain from “Gangnam Style”?

Due to the phenomenal success of “Gangnam Style,” Psy amassed a substantial fortune from his single in its debut year. Psy realized millions in ad revenue sharing from his 7 billion video views. His earnings from around 4 million iTunes downloads total approximately $4 million. While his streaming revenues were modest, at only $500,000. Psy also secured an estimated $8 million from endorsement deals with prominent brands such as Samsung. Overall, the massive triumph of “Gangnam Style” translated to over $20 million in Psy’s coffers, pre-tax deductions, and managerial fees.

Psy’s Family Has Also Garnered Millions

Another intriguing development during the “Gangnam Style” mania was the meteoric rise in the stock of his father’s publicly-traded company concurrent with the explosive success of Psy’s single. Additional details on this peculiar occurrence are explored in our piece detailing how the Gangnam Style Rapper’s Family Recently Acquired $30 million.

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Psy’s Early Life

On December 31st, 1977, in the Gangnam District of Seoul, South Korea, Psy was born as Park Jae-Sang. Hailing from an affluent background, his father, Park Won-Ho, serves as the chairman of DI Corporation, while his mother, Kim Young-Hee, is a restaurateur. Psy attended Sehwa High School and was renowned as the class jester. His former classmates describe him as infusing his classes with a contagious and cheerful vibe. Psy’s musical passion was kindled by Queen, specifically “Bohemian Rhapsody.” Initially slated to attend Boston University, he became disenchanted with his business administration studies upon reaching the U.S. and diverted his residual tuition funds towards musical instruments and gear. He abandoned his BU pursuits to enroll at Berklee College of Music but ultimately forwent completion to return to South Korea and pursue his musical aspirations.

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Reflecting on Life Post “Gangnam Style”

Psy discussed the inspiration behind the song during a speech at the Oxford Union in England in November 2012. He expressed that life after the massive success of “Gangnam Style” presented both a dream and a nightmare scenario. Psy acknowledged the challenge of surpassing the success of his previous hit. Later that month, Psy made history as only the second South Korean music artist to perform at the MTV Europe Music Awards. Seizing the momentum of “Gangnam Style,” Psy signed with Scooter Braun, Justin Bieber’s manager, and Schoolboy Records in 2012. Subsequently, he released two more albums with varying levels of success. In 2019, Psy established his own company, P Nation, where he signed artists such as Hyuna and Dawn.

Behind the Scenes

In October 2006, Psy tied the knot with Yoo Hye Yeon, and they are now parents to twin daughters. In a setback back in late 2001, Psy faced legal consequences for marijuana possession, resulting in a fine and a 25-day jail sentence. Regrettably, this incident prevented him from attending his grandfather’s funeral and offering his final respects.