Drake Net Worth (Money & Salary)
Title: Drake Net Worth (Money & Salary)
Last Updated: December 5, 2024
What is Drake’s Net Worth?
Drake, a Canadian actor, producer, and rapper, boasts a net worth of $250 million. He is a regular fixture among the world’s top-earning entertainers. Initially, Drake’s career began as an actor on the immensely popular Canadian TV series, “Degrassi: The Next Generation”. Yet, it was through his music that he gained global recognition, writing and releasing hit tracks consistently since 2006. His first studio album, “Thank Me Later,” debuted at #1 on the hip-hop charts in 2010, paving the way for continued success. Touring extensively, participating in numerous music shows and awards, he has concentrated on expanding his fan base significantly.
Since achieving mainstream recognition, Drake’s career earnings have exceeded $430 million, excluding taxes and lifestyle expenses.
In the period from June 2017 to June 2018, he earned $45 million, while the total earnings for 2017 reached $95 million. From June 2018 to June 2019, he earned $75 million, and in the subsequent year, his earnings amounted to $50 million. For a detailed year-by-year summary of Drake’s annual income, continue scrolling down.
Universal Music Group Contract
During their Q1 earnings call in May 2022, Universal Music Group announced the renewal of Drake’s contract for a “long-term worldwide partnership.” This agreement encompasses “recorded music as well as music publishing, film, television, and brands.” Drake has referenced this deal in several lyrics, once rapping about a contract that provided him “360 up front.” Following Universal’s announcement, some interpreted this line as indicating he received an upfront payment of $360 million. Alternatively, other sources have suggested the deal’s worth might reach $400 million or more. Prior to the signing, Drake’s music catalog was generating around $50 million annually for Universal.
If the estimated value of the deal is indeed $400 million, after tax deductions, Drake could have effectively received $200 million upfront.
Early Life
Born on October 24, 1986, in Toronto, Canada, Aubrey Drake Graham’s father, Dennis, was a drummer who collaborated with artists such as Jerry Lee Lewis. His mother, Sandra (Sandi), worked as a florist and English teacher. Drake attended a Jewish day school and celebrated his Bar Mitzvah formally.
After the divorce of Sandi and Dennis when Aubrey was just five, his father relocated to Memphis, where he ultimately faced arrest and incarceration for drug-related charges. Aubrey stayed in Toronto with his mother but visited his father in Memphis every summer, except when his father was imprisoned. Drake later characterized Dennis as largely absent during his upbringing, a claim that Dennis has strongly denied, arguing it was exaggerated to aid in selling records.
From sixth grade onward, he and his mother resided in a half of a two-story townhome in the wealthy suburb of Forest Hill, with Drake in the basement and his mother on the main floor. They were not affluent, struggling financially at times.
While enrolled at Forest Hill Collegiate Institute, Drake discovered his passion for acting and singing. He subsequently attended Vaughan Road Academy, where he faced bullying due to his bi-racial and religious heritage. Although he briefly dropped out, he ultimately graduated in 2012.
Degrassi
At the age of 15, through a childhood friend’s father, who was an acting agent, Drake obtained a role in the long-standing Canadian teen drama series, “Degrassi: The Next Generation.” He portrayed Jimmy Brooks, a basketball star whodisabled after being shot by a classmate, and he was a cast member from seasons 1 to 7, including guest appearances in 2008.
During Drake’s time on Degrassi, his mother fell ill and could no longer work. For several years, his earnings from Degrassi served as their sole income. At that time, he was earning a salary of $50,000 per year from the show, which amounted to about $2,000 monthly after taxes. He later reflected on this period with the following words:
“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
In February 2005, he launched his first mixtape, “Room for Improvement,” on his website and official MySpace page, selling over 6,000 copies directly. The following year, he put out a second mixtape, “Comeback Season,” released under his newly established label, October’s Very Own (commonly known as OVO Records). This mixtape included a hit underground single titled “Replacement Girl,” which made history as the first music video from an unsigned Canadian rapper to be featured on BET. One version of the track creatively incorporated a sample of “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.
After hearing the single, Houston-based producer and Rap-A-Lot Records founder Jas Prince forwarded it to Lil Wayne. Impressed by Drake’s talent, Lil Wayne contacted him, inviting him to Houston to join his Tha Carter III tour. Throughout the tour, Drake and Wayne collaborated on several songs, such as “Brand New,” “Forever,” and “Ransom.”
Young Money Entertainment
Contrary to popular belief, Drake had not yet signed with Wayne’s record label at this stage. In 2009, he released a third mixtape, “So Far Gone,” which was available for free download on his OVO website. This mixtape featured contributions from Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B. After accumulating 2,000 downloads in its first hour, the mixtape achieved Gold certification from the RIAA and reached #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.
As an independent artist, Drake gained immense popularity in the music industry, leading to a fierce bidding war among various labels eager to sign him. This situation has been described as “the biggest bidding war in music history,” although this claim is not officially substantiated.
On June 29, 2009, Drake signed a contract with Lil Wayne’s Young Money Entertainment. The record deal was essentially a joint venture between Young Money and its parent company, Cash Money, with Universal Music overseeing distribution.
(Photo by Frazer Harrison/Getty Images)
Mainstream Success
Drake’s debut studio album, “Thank Me Later,” was
on June 15, 2010, the album was released, reaching #1 in both Canada and the US. In the US charts, it achieved #1 status on the Billboard 100, R&B/Hip Hop, and US Rap charts. The RIAA eventually certified it Platinum.
The sophomore studio album, “Take Care,” which was released in 2011, similarly attained #1 positions across various charts in multiple countries, ultimately achieving 6-times Platinum status.
Since then, every album released has been no less than 4-times Platinum.
Renowned as one of the most powerful and successful figures in hip-hop and the broader music industry, Drake has collaborated with numerous top stars including Kanye West, Eminem, Jay-Z, and Travis Scott. His list of nominations for prestigious awards is extensive, and as of the current date, he has garnered more than 180 significant awards, four of which are Grammys, from over 40 nominations.
Drake’s earnings per concert are approximately $1 million.
Singles Sold
Drake holds the record for selling more digital singles than any artist in history, with over 163 million digital singles sold as of this point in time. This figure is 40 million higher than that of the runner-up, Rihanna. In terms of total album sales, he ranks as the 80th highest-selling musician ever, with an estimated 26 million albums sold. This achievement places him third among Canadian musicians, 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
While Drake was born in Canada, he made Hidden Hills, California, his residence in 2012 when he purchased a lavish mansion for $7.7 million in cash from the former owner of Los Angeles’ Saddle Ranch Bar. Dubbed the YOLO Estate, this property boasts various residences, including a 12,000-square-foot main house and a separate party house measuring 2,000 square feet. Amenities at the estate comprise equestrian stables, a 25-person movie theater, a full-sized basketball court, a sand volleyball court, and one of the largest private pools in Southern California. His unique pool, which encircles the house, features various waterfalls, a swim-up bar, an 80-foot water slide, and a luxurious grotto reminiscent of the Playboy mansion.
In a Rolling Stone interview, Drake shared that he had coveted this mansion for years after discovering it via a Google search for “craziest residential swimming pools.” To inspire himself, he set the pool’s image as the background on his computer for years. Originally listed at $27 million in 2009, the property became attainable for Drake by 2012 when the former owner faced financial difficulties, prompting him to purchase it for $7.7 million.
In 2015, he expanded his estate by acquiring the adjacent 1.6-acre property for $2.8 million. In 2018, he further enhanced the estate…
At a cost of $4.5 million, he once again acquired a neighboring house, expanding his private estate to encompass 6.7 acres of contiguous land situated at the end of a cul-de-sac. This represents a total of $15 million spent on real estate acquisitions alone.
In March 2022, Drake put the YOLO Estate on the market for $22.7 million. Additionally, there was an opportunity for a buyer to purchase the primary mansion separately for $14.8 million.
April 2022 saw NFL star Matthew Stafford purchase two of the three estates that comprised the former YOLO Estate for $11 million, which was $3.6 million above the asking price. However, Matthew’s acquisitions did not include the main “YOLO” mansion. In July 2022, another buyer acquired the third parcel for $12 million.
Check out this video showcasing the entire three-estate property:
Toronto Mansion
In 2016, Drake invested $6.7 million to purchase land in suburban Toronto, specifically in The Bridle Path area. Subsequently, he constructed a 50,000-square-foot mansion on this two-acre plot. Features of the house include a 10-car garage, an NBA regulation-sized basketball court, a gym, an awards room, and more. Notably, the master bedroom spans 3,200 square feet.
Additionally, he owns a condominium in downtown Toronto.
$90 Million Beverly Hills Mansion
On March 8, 2022, reports emerged that Drake had made an off-market deal to purchase Robbie Williams’ 20-acre mansion in Beverly Hills, with the transaction amounting to $75 million. Before being owned by Robbie Williams, this property belonged to Armand Marciano, co-founder of the Guess? clothing brand. Drake acquired the home through a corporate entity, 11Kip, LLC, financing it with a $52.5 million mortgage from Bank of America, resulting in a cash down payment of $22.5 million, exactly 30%.
In May 2023, just over a year after buying the property for $75 million, Drake listed the mansion for $88 million. He relisted it at the same price in May 2024. Here is a video tour of Drake’s Beverly Hills mansion:
300+ Acre Texas Estate
In October 2023, Drake made a $15 million purchase of a 313-acre property previously known as The Inn at Dos Brisas, now referred to as Dos Brisas Ranch. Initially a private compound for a wealthy family in the early 2000s, the estate was transformed into a resort in 2004. At its height, The Inn at Dos Brisas was immensely popular and received numerous prestigious accolades.
Unfortunately, like many hospitality ventures, The Inn was heavily impacted by COVID and permanently closed in 2022. The estate was listed for sale in April 2022 at $17.5 million, and the price was subsequently reduced to $15 million in May 2023. Drake officially acquired the property in October 2023 for an undisclosed amount above $10 million. Take a look at the video tour:
Air Drake Private Jet
In May 2019, Drake shared a video on Instagram showcasing his newly-acquired Boeing 767 private jet, which he named (and customized) “Air Drake.” In the video, he proudly stated that he owns the jet outright, boasting, “no rental, no timeshare, no co-owners.”
A private jet of comparable model and quality would be valued between $75 and $100 million.
(Photo by Tom Szczerbowski/NBAE/Getty Images)
Drake’s Net Worth Milestones
Drake was added to Celebrity Net Worth for the first time in November 2009, with an estimated net worth of $1 million, following his signing with Lil Wayne’s Young Money a few months prior. His net worth reached over $25 million by 2012, surpassed $45 million by 2014, and by late 2016, it exceeded $80 million for the first time. Due to his exceptional earnings nearing $100 million in 2017, he easily crossed the $100 million mark in early 2018, and by May 2019, his net worth reached over $150 million for the first time.
Business Ventures
Throughout his career, Drake has endorsed several prominent brands, including Sprite, Burger King, Whataburger, Nike, and Apple. When Apple Music was launched, he signed a $19 million exclusivity agreement, enabling Apple to be the exclusive home for all of Drake’s subsequent solo releases.
In 2012, Drake established his own record label, OVO Sound, which is affiliated with Warner Bros. Records. Alongside Drake, OVO Sound currently represents various artists such as PartyNextDoor, Majid Jordan, and Kash Doll, as well as producers like Boi-1da, Future the Prince, Mike Zombie, and others.
Drake serves as the “global ambassador” for the Toronto Raptors and hosts an annual event called Drake Night in collaboration with the team.
In 2016, he introduced his own bourbon whiskey brand named Virginia Black, which sold 4,000 bottles during its first week of sales. Later that year, an additional 30,000 units were shipped.
Tours
2010 marked the beginning of Drake’s headline tours with the “Away From Home Tour.” He has conducted five more headline tours up through 2019 and has co-headlined four tours, including a tour in 2018 alongside the rap group Migos.
The “Summer Sixteen Tour” in 2016 become the highest-grossing hip-hop tour ever at that time, grossing $84.3 million over 54 shows—averaging $1.56 million per concert. This record was broken in 2018 by his Migos co-headlining tour, which grossed $80 million over 43 dates, averaging $1.86 million per concert.
Every summer, Drake organizes a festival in Toronto called “OVO Fest,” which sells out rapidly.
Drake holds a residency at the XS Nightclub in Las Vegas, where a single appearance can earn him around $500,000. For more formal concerts, his earnings exceed $2 million.
Personal Life
Over the years, Drake has been in several high-profile relationships. He dated Rihanna intermittently from 2009 to 2016, later expressing that she is “the woman I’ve been in love with since I was 22 years old.“
In October 2017, his son Adonis was born to a French model, actress, and artist named Sophie Brussaux. Drake did not publicly acknowledge his fatherhood until 2018.
Drake Net Worth (Money & Salary)
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The data presented is from 2023 and 2024, with forecasts extending to 2025 and 2026, as well as further projections for 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 5, 2024
