Drake Net Worth (Money & Salary)
Title: Drake Net Worth (Money & Salary)
Last Updated: November 30, 2024
What is Drake’s Net Worth?
Drake, a Canadian-born actor, producer, and rapper, boasts a net worth of $250 million. He consistently ranks among the highest-paid entertainers globally. His career began as an actor with a role in the popular Canadian television series, “Degrassi: The Next Generation.” However, it was through music that he became a global sensation, 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, and he has maintained his momentum ever since. Drake has toured extensively and made numerous appearances on various music programs and award shows, focusing on expanding his fan base.
Since his rise to mainstream fame, Drake has amassed more than $430 million throughout his career, prior to deductions for taxes and lifestyle expenses.
From June 2017 to June 2018, Drake earned $45 million. In 2017, his total earnings reached $95 million. Between June 2018 and June 2019, he earned $75 million, followed by another $50 million in the subsequent year. For a detailed year-by-year overview of Drake’s earnings, see below.
Universal Music Group Contract
During Universal Music Group’s Q1 earnings call in May 2022, the company announced the re-signing of Drake to a “long-term worldwide partnership.” This agreement encompassed everything from “recorded music to music publishing, film, television, and brands.” Drake referenced this deal in several lyrics, notably rapping about signing a contract that included “360 up front.” Following Universal’s confirmation, some interpretations suggest that this lyric indicates he received $360 million upfront. Other estimates have valued the deal at $400 million or more. Prior to this agreement, Drake’s music catalog had been generating $50 million in annual revenue for the company.
If the deal were indeed valued at $400 million, it is theorized that Drake would have received $200 million upfront after taxes.
Early Life
Aubrey Drake Graham was born on October 24, 1986, in Toronto, Canada. His father, Dennis, was a drummer who performed with notable artists such as Jerry Lee Lewis. Meanwhile, Drake’s mother, Sandra, often referred to as Sandi, worked as an English teacher and florist. He attended a Jewish day school where he also celebrated his Bar Mitzvah.
When Aubrey was five, his parents divorced, prompting Dennis to relocate to Memphis. There, he ultimately faced arrest and incarceration for several years due to drug-related charges. Aubrey stayed with his mother in Toronto but would spend summers with his father in Memphis, assuming his father was not in prison. Drake later described Dennis as absent during his childhood, a claim Dennis has strongly contested, asserting that it was exaggerated for the sake of selling records.
From sixth grade onward, Drake and his mother resided in the lower half of a two-story townhome located in a well-off suburb known as Forest Hill. His mother occupied the main floor, while Drake lived in the basement. They were not wealthy, often struggling to make ends meet.
Drake developed an interest in acting and singing while attending Forest Hill Collegiate Institute. Later on, he enrolled in Vaughan Road Academy, where he faced bullying due to his bi-racial and religious background. He temporarily dropped out but eventually graduated in 2012.
Degrassi
At the age of 15, through the assistance of a childhood friend’s father who was an acting agent, Drake secured a role in the long-running Canadian teen drama series “Degrassi: The Next Generation.” In this series, he portrayed Jimmy Brooks, a basketball star who…disabled after being shot by a fellow student. He participated as a cast member in seasons 1 through 7, also making guest appearances in 2008.
During his time on Degrassi, his mother fell ill and was unable to work. For several years, Drake’s income from Degrassi was their sole source of financial support. At that time, he earned a salary of $50,000 annually from the show, approximately $2000 per month post-taxes. He later reflected on this challenging period:
“We were quite poor, like absolutely broke. The only income I had was from Canadian television.“
Music Career
In February 2005, he launched his debut mixtape, “Room for Improvement,” on his website and official MySpace page. He managed to sell over 6,000 copies directly. The following year, he released his second mixtape, “Comeback Season,” through his newly established label, October’s Very Own (OVO Records). This mixtape included the underground hit single “Replacement Girl,” with its music video being the first from an unsigned Canadian rapper to be featured on BET. One version of the song incorporated a sampled section from “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.
Jas Prince, a Houston-based producer and Rap-A-Lot Records founder, caught wind of the single and shared it with Lil Wayne. Lil Wayne, impressed by what he heard, reached out to Drake, inviting him to Houston to participate in his Tha Carter III tour. As the tour unfolded, Drake and Wayne collaborated on various tracks, including “Brand New,” “Forever,” and “Ransom.”
Young Money Entertainment
Contrary to assumptions, Drake had not yet signed with Wayne’s record label. In 2009, he released a third mixtape, “So Far Gone,” offering it as a free download on his OVO website. This mixtape featured contributions from Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B. After achieving 2000 downloads in its first hour, the mixtape received a Gold certification from the RIAA, reaching #2 on the Billboard Hot 100. It was subsequently released as an EP, debuting at #6 on the Billboard 200 and winning the 2010 Juno Award for Rap Recording of the Year.
Now in high demand within the music industry while still being an independent artist, Drake found himself at the center of a bidding war with multiple labels eager to sign him. This situation was described as “the biggest bidding war in music history,” although this claim is not verified.
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 inaugural studio album, “Thank Me Later,” was
on June 15, 2010, the album was released. It reached #1 in both Canada and the US. In the US, it achieved #1 status on the Billboard 100, #1 on the R&B/Hip Hop, and #1 on the US Rap charts. The RIAA later certified it Platinum.
The second studio album of his career, titled “Take Care” and released in 2011, also reached #1 on various charts across multiple countries, ultimately achieving 6-times Platinum status.
Subsequent albums have all been certified at least 4-times Platinum.
As a significant figure in hip-hop and the broader music industry, Drake stands out as one of the most successful and influential artists. He has collaborated with a multitude of prominent music figures such as Kanye West, Eminem, Jay-Z, and Travis Scott. Throughout his career, Drake has received numerous nominations for various awards. At present, he has secured over 180 major awards, including four Grammys from more than 40 nominations.
Drake’s concert earnings are estimated to be around $1 million per performance.
Singles Sold
Having sold more digital singles than any other artist in history, Drake has surpassed 163 million digital singles as of this writing. This figure is 40 million more than Rihanna, who holds second place. Regarding album sales, he ranks as the 80th highest-selling musician of all time, with approximately 26 million albums sold. This positions him as the third best-selling Canadian musician ever, 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
Despite being born in Canada, Drake made Hidden Hills, California his home beginning in 2012 after purchasing a lavish mansion from the former owner of the Saddle Ranch Bar in Los Angeles for $7.7 million in cash. Known as the YOLO Estate, this property includes multiple buildings, featuring a main house that spans 12,000 square feet and a party house of 2,000 square feet. Amenities at the estate consist of equestrian stables, a cinema with 25 seats, a full-sized basketball court, a sand volleyball court, and one of Southern California’s largest privately owned pools. The stunning lagoon-style pool winds around the house and includes several waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of those at the Playboy Mansion.
In an interview with Rolling Stone, Drake shared that he had admired this mansion for years after discovering it while searching for “craziest residential swimming pools” online. He kept a picture of the pool as his computer background for inspiration. The previous owner had listed the home for $27 million in 2009, but due to financial difficulties, they sold it to Drake for $7.7 million in 2012.
In 2015, Drake expanded his property by acquiring the adjacent 1.6-acre estate for $2.8 million. In 2018, he further added to his estate.
Again, he invested $4.5 million to acquire yet another neighboring house. Now, his private estate spans 6.7 acres of connected property at the end of a cul-de-sac, representing $15 million just in real estate acquisition expenses.
In March 2022, Drake put the YOLO Estate on the market for $22.7 million, with an option for buyers to purchase the main mansion separately for $14.8 million.
In April 2022, NFL star Matthew Stafford acquired two of the three estates that previously formed the YOLO Estate, paying $11 million—$3.6 million over the asking price. However, his purchases did not include the primary “YOLO” mansion. In July 2022, the third parcel was sold for $12 million.
Check out this video showcasing the complete three-estate property:
Toronto Mansion
In 2016, Drake made a $6.7 million purchase of a parcel in suburban Toronto, specifically in The Bridle Path area. He went on to construct a 50,000-square-foot mansion on this two-acre lot, which includes a 10-car garage, a regulation-size NBA basketball court, a gym, an award room, and more. The master bedroom alone measures 3,200 square feet.
Additionally, he has ownership of a condominium in downtown Toronto.
$90 Million Beverly Hills Mansion
Reported on March 8, 2022, Drake finalized a deal to purchase British singer Robbie Williams’ 20-acre Beverly Hills mansion for $75 million in an off-market transaction. Prior to Robbie Williams, the estate belonged to Armand Marciano, co-founder of the Guess? clothing brand. The acquisition was made through a corporate entity named 11Kip, LLC, with a mortgage of $52.5 million from Bank of America, implying a cash down payment of $22.5 million, which is precisely 30%.
Just over a year after acquiring the Beverly Hills property for $75 million, in May 2023, Drake placed it on the market for $88 million. He reiterated the listing in May 2024 for the same price. Here’s 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 estate formerly known as The Inn at Dos Brisas, which is now called Dos Brisas Ranch. Originally, in the early 2000s, the property served as a private compound for an affluent family who transformed it into a resort in 2004. At its peak, The Inn at Dos Brisas gained significant popularity, receiving numerous high-profile accolades.
Like many hospitality ventures, The Inn was severely impacted by COVID-19, leading to its permanent closure in 2022. The estate was listed for $17.5 million in April 2022 and had its price reduced to $15 million in May 2023. Ultimately, in October 2023, Drake acquired the property for an undisclosed sum exceeding $10 million. Here’s a 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.” The video illustrates his pride in owning the jet outright, emphasizing that it belongs entirely to him with “no rental, no timeshare, no co-owners.”
A private jet of similar model and quality would be valued between $75 million 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 an estimated net worth of $1 million, after signing with Lil Wayne’s Young Money a few months prior. By 2012, his net worth had exceeded $25 million. By 2014, it had surpassed $45 million. Then, by late 2016, he reached the $80 million mark for the first time. Thanks to his remarkable nearly $100 million earnings in 2017, he easily crossed the $100 million milestone by early 2018. In May 2019, he achieved a net worth of over $150 million for the first time.
Entrepreneurial Pursuits
Throughout the years, Drake has been an endorser for several major brands, including noteworthy ones like Sprite, Burger King, Whataburger, Nike, and Apple. When Apple Music debuted, Drake secured a $19 million exclusivity contract, granting Apple the exclusive initial rights to all his future solo releases.
In 2012, Drake established his record label, OVO Sound, which is distributed by Warner Bros. Records. Besides Drake, OVO Sound now represents artists such as PartyNextDoor, Majid Jordan, and Kash Doll, along with producers like Boi-1da, Future the Prince, Mike Zombie, and others.
As the “global ambassador” for the Toronto Raptors, he hosts an annual Drake Night in collaboration with the team.
In 2016, Drake introduced his bourbon-based whiskey brand, Virginia Black, which sold 4,000 bottles within the first week of its release. Later that year, the company shipped another 30,000 units.
Touring History
Drake’s inaugural headline tour was the “Away From Home Tour” in 2010. He went on to undertake five additional headlining tours by 2019 and has co-headlined four tours, including a notable one in 2018 with the rap group Migos.
His 2016 “Summer Sixteen Tour” became the highest-grossing hip-hop tour ever at that time, grossing $84.3 million from 54 shows, averaging $1.56 million per concert. The subsequent Migos co-headlining tour broke that record in 2018, earning $80 million over 43 dates, averaging $1.86 million per concert.
Every summer, Drake organizes a festival known as “OVO Fest” in Toronto, which sells out instantly.
He holds a continuous residency at the XS Nightclub in Las Vegas, potentially earning him $500,000 for a single performance, and he now averages over $2 million for a more formal concert.
Life Outside of Music
Drake has had several notable relationships over the years, including an on-and-off romance with Rihanna from 2009 to 2016. He later referred to her as “the woman I’ve been in love with since I was 22 years old.“
In October 2017, he welcomed a son named Adonis with French model/actress/artist Sophie Brussaux, confirming his fatherhood in 2018.
Drake Net Worth (Money & Salary)
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The data presented is from 2023 and 2024, with forecast data extending to 2025 and 2026. Additionally, we broaden the forecast data 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: November 30, 2024
