Drake Net Worth 2024: How Much He Has Sources Of Income

What is Drake’s Net Worth?

Drake Net Worth 2024: Drake is a Canadian-born actor, producer, and rapper worth $250 million. Drake is routinely ranked among the highest-paid entertainers in the world. Drake began acting by participating in the popular Canadian television series “Degrassi: The Next Generation”.

However, it was music that would give him a household name around the world, and he has been creating or recording successful tracks since 2006. His debut studio album, “Thank Me Later,” peaked at number one on the hip-hop charts in 2010, and he hasn’t stopped since. He has toured extensively, participated in numerous music programs and awards shows, and has generally focused on expanding his fan base.

Drake’s lifetime earnings have exceeded $430 million, before taxes and lifestyle costs.

Between June 2017 and June 2018, Drake made $45 million. In 2017, he made a total of $95 million. From June 2018 to June 2019, he earned $75 million. He made $50 million over the next twelve months. Scroll down for a comprehensive year-by-year breakdown of Drake’s earnings.

Early Life

Aubrey Drake Graham was born in Toronto, Canada on October 24, 1986. Dennis, Drake’s father, worked as a drummer and performed with performers such as Jerry Lee Lewis. Drake’s mother, Sandra, sometimes known as Sandi, was an English teacher and florist. Drake attended a Jewish day school with a ceremonial Bar Mitzvah party.

Sandi and Dennis divorced when Aubrey was five. His father eventually moved to Memphis, where he was caught and detained for several years on narcotics charges. Aubrey stayed with his mother in Toronto, but he visited his father in Memphis every summer (when he was not incarcerated).

Sources of Drake’s Income

Drake’s wealth is the product of multiple income sources that have allowed him to build a massive fortune. His empire extends far beyond music. Let’s explore the various streams that have contributed to his financial success.

1. Music Career: Album Sales, Streams, and Tours

Drake’s music career remains his primary and most lucrative source of income. His debut album, Thank Me Later (2010), was the beginning of a series of chart-topping releases. With albums like Take Care, Nothing Was the Same, Views, and Certified Lover Boy, Drake has proven his ability to consistently produce hits. His ability to adapt his style and maintain relevance in the music scene has translated into massive album sales.

In the era of streaming, Drake has been particularly successful, with billions of streams on platforms like Spotify, Apple Music, and YouTube. His influence in the streaming world is immense, and he was once named the most-streamed artist on Spotify, a title that still holds weight in 2024. Drake’s deal with Apple Music, signed in 2015, was reportedly worth $19 million, further solidifying his dominance in the streaming industry.

Live performances and tours are another major contributor to his wealth. Drake’s “Aubrey and the Three Migos Tour” in 2018 grossed over $100 million. His tours are known for their high production value, and with sold-out arenas worldwide, the revenue generated from ticket sales, merchandise, and sponsorships is immense.

2. OVO Sound and OVO Brand

Drake started his record label, OVO Sound, in 2012 alongside his longtime producer Noah “40” Shebib. OVO Sound has since signed other successful singers, including PartyNextDoor and Majid Jordan. Drake, as the label’s creator and head, benefits financially from the success of his artists as well as the cash earned by the label’s releases.

Beyond the record label, the October’s Very Own (OVO) brand has expanded into a lifestyle and fashion empire. OVO creates high-end streetwear, such as hoodies, jackets, and other items that have proven popular among enthusiasts. OVO’s collaborations with brands such as Canada Goose and Nike have increased its prominence, and the apparel line has a devoted following that earns millions of dollars in revenue each year.

3. Endorsements and Brand Deals

Drake’s celebrity status makes him a desirable candidate for endorsement deals and brand partnerships. His long-standing association with Nike resulted in the release of his brand of footwear, the “NOCTA” series. The cooperation has been a huge success, with several limited-edition sneakers selling out quickly and becoming collector’s goods.

In addition to Nike, Drake has collaborated with luxury labels such as Louis Vuitton and Chanel, increasing his income through brand collaborations. His work with Sprite, where he appeared in numerous campaigns, and his partnership with Apple Music demonstrates his ability to diversify his income by utilizing his public image.

4. Investments

Drake is more than simply a musician and brand ambassador; he is also an astute investor. He has invested his money in a variety of business enterprises and startups, diversifying his portfolio. One of his best-known ventures is in the eSports business. Drake joined 100 Thieves, a gaming organization that has developed into one of the world’s largest and most valuable eSports brands, as a co-owner in 2018.

He has also invested in real estate. Drake owns multiple high-value properties, including his multimillion-dollar residence in Toronto, dubbed “The Embassy.” Drake has made a regular living from real estate, which has increased in value over time.

5. Acting and Production

Before becoming a global music icon, Drake was renowned for his role as Jimmy Brooks on Degrassi. Drake has expressed an interest in returning to the film after putting his acting career on hold to focus on his music. He has also broadened his involvement in the entertainment industry by working on producing projects. Drake’s company DreamCrew has created blockbuster series such as Euphoria, which was a huge success for HBO and added another money stream to his portfolio.

6. Whiskey Business: Virginia Black

Drake’s venture into the alcohol business has proven to be lucrative. In 2016, he launched Virginia Black, a whiskey brand that gained attention for its sleek packaging and smooth taste. While it may not have reached the global success of brands like Diddy’s Cîroc or Jay-Z’s D’Ussé, Virginia Black has carved out a niche in the market, and Drake has seen substantial returns from this venture.

See Also: What’s Kanye West’s Net Worth 2024

FAQs About Drake