Drake Net Worth 2024: Insights into the Rapper’s Wealth
An image credit example from a Rolling Stone
Drake’s net worth in 2024 is a staggering $250 million, a figure that reflects his successful career and strategic investments. From his early days as an actor on ‘Degrassi’ to dominating the music charts with hits like ‘God’s Plan’ and ‘Hotline Bling,’ Drake has consistently expanded his financial portfolio, leaving us all in awe of his financial success.
Drake’s wealth is not just from music; he has also made major business moves. His financial journey is a diverse and intriguing one, with his fortune built from a variety of sources. Let’s explore the details of Drake’s financial journey and how he has managed to build such an impressive fortune.
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Drake Biography
Birthdate: Oct 24, 1986
Age: 37 years old
Birthplace: Toronto
Gender: Male
Full name: Aubrey Drake Graham
Height: 6 ft (1.83 m)
Nationality: Canadian
Profession: Actor, Singer, Songwriter, Rapper, Voice Actor, Composer, Record producer, Entrepreneur
Years Active: 2001 – Present
Net Worth: $250 Million
Salary: $70 Million Per Year
Drake Net Worth 2024
Drake’s Music Earnings
Several key milestones mark Drake’s meteoric rise in the music industry. Starting with mixtapes, he caught the eye of Young Money Entertainment:
- 2006: Released debut mixtape Room for Improvement, selling 6,000 copies.
- 2007: Dropped Comeback Season, featuring “Replacement Girl,” the first video by an unsigned Canadian rapper on BET.
- 2009: Released third mixtape, So Far Gone, with hit single “Best I Ever Had,” reaching number 2 on Billboard’s Hot 100.
Drake’s success with mixtapes led to a record deal with Young Money Entertainment in 2009, propelling him to stardom. His earnings skyrocketed, with an annual salary of $70 million as the founder of OVO Sound. His latest album, For All The Dogs, sold 402,000 equivalent album units in its first week, highlighting his success.
Every subsequent album achieved at least four times platinum:
- Take Care (2011): Six-times platinum
- Views (2016): Featuring “One Dance” and “Hotline Bling”
- Scorpion (2018): Hits like “In My Feelings” and “God’s Plan”
- Certified Lover Boy (2021): Tracks like “Way 2 Sexy”
Drake’s Acting Career
Drake, originally known as Aubrey Graham, made an early start in his career at the age of 14. An agent friend of his father recommended him for the Canadian TV show “Degrassi: The Next Generation,” where he starred as Jimmy Brooks in over 100 episodes, a remarkable achievement for a young talent.
Despite the financial challenges brought on by his mother’s illness, Drake’s determination and resilience shone through. His acting portfolio expanded over the years, with roles in shows and movies like “Blue Murder,” “Instant Star,” and “Charlie Bartlett.”
Drake has ventured into production with his DreamCrew company, producing projects like “The Carter Effect” and “Euphoria,” showcasing his versatile talent in the entertainment industry.
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Earnings from Concerts and Streaming
Drake’s album sales are not just impressive, they are record-breaking. His streaming and live performances significantly boost his net worth. Hits like “God’s Plan” and “One Dance” have billions of streams on Spotify and Apple Music. Drake, the most-streamed male artist, has 76 million streams and $304 million in earnings. His tours, starting with the Away from Home Tour in 2010, have set records, with the 2016 Summer Sixteen Tour grossing $84.3 million.
In 2019, the Assassination Vacation Tour earned over $155 million, a staggering figure that showcases Drake’s financial success. His concerts, such as his 2023 performances at One Arena, have garnered $5 million in two nights. His annual OVO Fest in Toronto and high-paying performances at XS Nightclub in Las Vegas further enhance his earnings.
Awards and Accomplishments
Drake’s successful career has not only made him one of the richest rappers in the world but also earned him many prestigious awards.
- Grammy Awards:
- Best Rap Album (2013)
- Multiple wins in 2017 and 2019
- American Music Awards:
- Three awards in 2016
- Favorite Rap/Hip-Hop Male Artist (2021)
- Billboard Music Awards:
- Top Artist (2017, 2019, 2022)
- Artist of the Decade (2021)
- BET Awards:
- Best Male Hip-Hop Artist (2010, 2012)
- All Africa Music Awards:
- Best Global Act (2021)
Drake’s Earnings from Endorsement Deals
Drake’s net worth has soared thanks to high-profile endorsement deals and strategic partnerships. In 2015, he secured a $19 million exclusivity deal with Apple Music, making it the sole platform for his solo releases. His collaboration with Nike, which began in 2013, has produced the popular Air Jordan OVO sneakers and the Nocta sublabel. As the global ambassador for the Toronto Raptors, Drake has hosted the annual Drake Night since 2013.
In addition, his 2022 partnership with Stake, a crypto-gambling site, earns him $100 million per year, having already brought him $200 million.
Businesses and Investments
Drake has demonstrated his entrepreneurial skills by building a diverse portfolio of successful ventures over the years. His primary achievement is OVO Sound, a record label founded in 2012. This label, which now supports artists like Majid Jordan and PartyNextDoor, has not only made a significant impact in the music industry but also in the fashion world through its collaborations, generating substantial revenue.
In 2016, Drake expanded his business ventures by acquiring Virginia Black, a bourbon whiskey brand that sold 4,000 bottles in its first year. The following year, he co-founded DreamCrew, a production company behind notable shows like Top Boy and Euphoria. In 2018, he invested in 100 Thieves, a prominent gaming and media organization.
Drake’s Real Estate Assets
| Property | Purchase Year | Purchase Price | Current Value | Details |
|---|---|---|---|---|
| YOLO Estate | 2012 | $7.7 million | $22 million | Expanded to 6.7 acres; sold in pieces in 2022 |
| Toronto Mansion | 2016 | $6.7 million | Over $10 million | 50,000 square feet luxury mansion |
| Beverly Hills Mansion | 2022 | $75 million | $88 million | Listed for sale in 2023 |
| Texas Ranch | 2024 | $15 million | $75 million | Recent Purchase |
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Drake’s Car Collection
Drake’s car collection features high-end vehicles with a total estimated value in the millions.
| Car Model | Estimated Value |
|---|---|
| 2010 Mercedes-Benz SLR McLaren | $400,000 – $500,000 |
| 2015 Brabus 850 | $200,000 – $300,000 |
| 2010 Bugatti Veyron – Sang Noir Edition | $2 million – $2.5 million |
| 2010 Bentley Continental Supersports Convertible | $80,000 – $120,000 |
| 2015 Rolls-Royce Wraith | $150,000 – $200,000 |
| 2016 Ferrari LaFerrari | $2.5 million – $3 million |
| 2016 McLaren 675LT | $200,000 – $250,000 |
| 2016 Lamborghini Aventador LP-700-4 Roadster | $350,000 – $400,000 |
| 2017 Bentley Mulsanne | $200,000 – $250,000 |
| 2018 Devel Sixteen | $1.5 million – $2 million |
| 2015 Mercedes-Maybach S600 Pullman | $300,000 – $400,000 |
| 2019 Mercedes-Maybach G650 Landaulet | $1 million – $1.5 million |
| 2020 Mansory Rolls-Royce Phantom | $500,000 – $700,000 |
Important Takeaways from Drake Net Worth
- Drake’s wealth has increased dramatically from low starting points to around $250 million in 2024, demonstrating both his commercial and creative achievements.
- Drake’s wealth is a result of a diverse portfolio, with his tours, music sales, and streaming royalties serving as consistent income streams.
- Drake’s entrepreneurial spirit is evident in his record label OVO Sound, which along with his apparel brand OVO and tech interests, has significantly diversified his sources of revenue.
- Drake’s extravagant lifestyle and astute investing choices are evident in his real estate purchases, which include a $10 million house in Toronto.
- Drake’s public presence and net worth are significantly enhanced by his lucrative endorsement partnerships with major brands like Apple, Nike, and Sprite.
FAQs
How much is Drake worth in 2024?
Drake is worth approximately $250 million in 2024.
How much money does Drake make?
Drake earns around $70 million per year.
What brands does Drake own?
Drake owns the record label OVO Sound, and the apparel brand OVO, and has investments in Virginia Black whiskey, DreamCrew, and 100 Thieves.
What are the main sources of Drake's income in 2024?
Drake’s primary income sources are music sales, streaming royalties, tours, endorsement deals, and his various business ventures.
What are some of Drake's recent financial achievements as of 2024?
Drake’s recent financial achievements include the success of his latest album, “For All The Dogs,” a lucrative partnership with Stake that earns him $100 million annually, and significant real estate investments like his $15 million Texas Ranch.
