Net Worth: 250 Million Dollars
Annual Salary: $70 Million
How much is Drake worth?
Drake is a Canadian-born actor, producer, and rapper with a $250 million dollar net worth. Consistently, Drake ranks among the highest-paid entertainers in the world. Drake was a child actor who appeared on the Canadian teen drama Degrassi: The Next Generation before he became a rap superstar. Since achieving mainstream success for the first time, Drake has earned over $430 million in his career before taxes and living expenses.
From June 2017 to June 2018, Drake made $45 million. He earned a total of $95 million in 2017. From June 2018 through June 2019, he made $75 million. In the subsequent 12 months, he earned $50 million. Below is a complete breakdown of Drake’s annual earnings by year.
The Universal Music Group Agreement
Universal Music Group confirmed on its Q1 earnings call in May 2022 that it had re-signed Drake to a “long-term worldwide partnership” that included “recorded music, music publishing, film, television, and brands.” Drake has referenced this transaction in a few lyrics. In one song, he rapped about a contract that included “360 up front.” Some have interpreted this lyric in light of Universal’s confirmation to mean that he was paid $360 million upfront. Other sources have estimated the deal’s value to be at least $400 million. In the years leading up to the signing, Drake’s music catalog alone generated $50 million in annual revenue for the company.
Assuming the deal was worth $400 million, Drake would have been paid an estimated $200 million upfront after taxes, assuming the deal was worth $400 million.
Aubrey Drake Graham was born in Toronto, Canada on October 24, 1986. Throughout his career, Dennis Drake was a drummer who performed with artists such as Jerry Lee Lewis. Sandra, also known as Sandi, was Drake’s mother. She was an English teacher and a florist. Drake attended a Jewish day school and celebrated his Bar Mitzvah with a formal ceremony.
Sandi and Dennis split up when Aubrey was five years old. Subsequently, his father moved to Memphis, where he was ultimately arrested and imprisoned for several years on drug charges. Aubrey remained with his mother in Toronto, although he traveled to Memphis every summer to see his father (when his father was not incarcerated). Later, Drake would describe Dennis as being absent during his childhood, claims Dennis has vehemently refuted and asserted were embellished to sell records.
Drake and his mother lived in the lower level of a two-story townhouse in the affluent Forest Hill suburb beginning in sixth grade. Drake lived in the basement while his mother lived on the street level. They were not wealthy; in fact, money was extremely scarce.
During his time at Forest Hill Collegiate Institute, Drake discovered a passion for acting and singing. Later, he attended Vaughan Road Academy, where he was victimized because of his mixed-race and religious background. He dropped out for a time, but graduated in 2012 nonetheless.
Drake landed a role on the long-running Canadian teen drama television series “Degrassi: The Next Generation” at the age of 15, thanks to the help of the father of a childhood friend. On the show, he portrayed basketball superstar Jimmy Brooks, who became disabled after being shot by a classmate. He was a cast member for the first seven seasons, with 2008 guest appearances.
While Drake appeared on Degrassi, his mother fell ill and was unable to work. His paychecks from Degrassi were their only source of income for several years. At the time, he was earning a salary of $50,000 per year from the show. After taxes, that’s roughly $2,000 per month. Later, he would describe this period as follows:
“My mother was extremely ill. We were extremely impoverished, in fact bankrupt. The only income I had is from Canadian television.”
In 2006, Aubrey, who was by then using his middle name “Drake” as his stage name, began releasing mixtapes. He was inspired by rap icons like Jay-Z who earned record deals after achieving success as independent artists.
In February of 2005, he released his debut mixtape, titled “Room for Improvement,” on his website and official MySpace page. He was able to directly sell over 6,000 copies. The following year, he released his second mixtape, “Comeback Season.” He released the mixtape via his newly-established record label October’s Very Own (aka OVO Records). This mixtape featured “Replacement Girl,” which became a popular underground single. It was the first music video by an unsigned Canadian rapper to be featured on BET. One version of the song featured a sample from Brisco, Flo Rida, and Lil Wayne’s “Man of the Year.”
Jas Prince, a Houston-based producer and founder of Rap-A-Lot Records, heard the song and forwarded it to Lil Wayne. Lil Wayne was impressed and called Drake to invite him to join his Tha Carter III tour in Houston. Drake and Wayne wrote and recorded several songs, including “Brand New,” “Forever,” and “Ransom,” as the tour progressed.
Young Money Amusements
Drake had not joined Wayne’s record label at this time, despite what you may believe. 2009 saw the release of his third mixtape, “So Far Gone.” The mixtape was made available for free download on his OVO website. Lil Wayne, Lloyd, Trey Songz, Omarian, and Bun B made guest appearances on the mixtape. The mixtape was eventually certified Gold by the RIAA and reached No. 2 on the Billboard Hot 100 after being downloaded 2,000 times in its first hour. Eventually, the mixtape was released as an EP, which debuted at number six on the Billboard 200 and won the 2010 Juno Award for Rap Recording of the Year.
Drake, who remained an independent artist, was in high demand within the music industry. Numerous record labels engaged in a bidding war for his services. The desperation has been described as the “greatest bidding war in the history of music,” although this cannot be confirmed.
Drake signed a contract with Lil Wayne’s Young Money Entertainment on June 29, 2009. The record deal was a joint venture between Young Money and its parent company, Cash Money, with distribution handled by Universal Music.
“Thank Me Later,” Drake’s debut studio album, was released on June 15, 2010. The album reached number one in both Canada and the United States. It topped the Billboard 100, the R&B/Hip Hop, and the US Rap charts in the United States. The RIAA eventually certified it Platinum.
2011’s “Take Care,” his second studio album, debuted at number one in several countries and eventually went six times platinum.
Since then, every album has been at least 4-times Platinum.
Drake is one of the most influential and successful figures in hip-hop and the music industry as a whole. He has collaborated with dozens of the music industry’s biggest names, including Kanye West, Eminem, Jay-Z, and Travis Scott. Drake has received numerous nominations for awards. As of the time of writing, he has won over 180 major awards, including four Grammys from over 40 nominations.
Per concert, Drake earns approximately $1 million.
Drake has sold the most digital singles in the history of music. As of the writing of this article, he has sold over 163 million digital singles. This is 40 million more than the runner-up, Rihanna. With an estimated 26 million albums sold, is the eightieth best-selling musician of all time, ranking eighty-first in terms of album sales. That makes him the third-best-selling Canadian musician of all time, following Shania Twain (48 million) and Celine Dion (36 million) (50 million).
Drake’s Annual Earnings
In 2020, $50 million will be spent
Worth of Drake (Photo by Christopher Polk/Getty Images)
Drake, who was born in Canada, has resided in Hidden Hills, California since 2012, when he paid $7.7 million in cash to the former owner of Los Angeles’ Saddle Ranch Bar for a palatial mansion. Multiple residences, including a 12,000-square-foot main house and a 2,000-square-foot party house, comprise the YOLO Estate. The estate includes equestrian stables, a movie theater with seating for 25 people, a full-sized basketball court, a sand volleyball court, and one of the largest privately-owned swimming pools in Southern California. His lagoon-like pool, which wraps around the exterior of the house, features multiple waterfalls, a swim-up bar, an 80-foot water slide, and a grotto in the style of a Playboy mansion.
In an interview with Rolling Stone, Drake revealed that he had his eye on this mansion for years after Googling “craziest residential swimming pools” and discovering it. He used a photo of the pool as the background image on his computer for years as a source of inspiration. In 2009, the former owner listed the home for $27 million. In 2012, the previous owner was experiencing a cash crunch, so Drake purchased the property for $7.7 million:
In 2015, he purchased the neighboring 1.6-acre estate for $2.8 million to expand his property. In 2018, he once again expanded the property by spending $4.5 million on a neighboring home. His private estate now consists of 6,7 acres of contiguous land at the end of a cul-de-sac, for which he paid $15 million in real estate acquisition costs alone.
In March 2022, Drake listed the YOLO Estate for $22.7 million. For $14.8 million, a buyer could also purchase just the primary mansion.
Drake spent $6.7 million in 2016 to purchase a parcel of land in Birdle Path, a suburb of Toronto. On the two-acre property, he constructed a mansion measuring 50,000 square feet. The residence features a 10-car garage, an NBA-sized basketball court, a gym, and an awards room, among other amenities. The master bedroom is 3,200 square feet on its own.
On March 8, 2022, it was reported that Drake had reached an agreement to purchase the 20-acre Beverly Hills estate of British singer Robbie Williams. The price Drake paid in a private transaction? Mid-seventy million dollars, per a source who spoke with the LA Times.
He also owns a downtown Toronto condominium.
Drake owns a minimum of $100 million worth of real estate assets.
Drake published a video on Instagram in May 2019 revealing his newly-acquired Boeing 767 private jet, which he has named (and painted) “Air Drake.” Drake proudly proclaims in the video that he is the sole owner of the jet, with “no rental, no timeshare, and no co-owners.” A comparable model and quality private jet would cost between $75 million and $100 million.
Drake’s Net Worth Accomplishments
In November 2009, we added Drake to CelebrityNetWorth with an initial net worth estimate of $1 million. A few months earlier, he had signed with Lil Wayne’s Young Money label. In 2012, his wealth exceeded $25 million. By 2014, his net worth had surpassed $45 million. He surpassed $80 million for the first time by the end of 2016. Due to his incredible 2017 earnings of nearly $100 million, he easily surpassed $100 million by early 2018. His net worth surpassed $150 million for the first time in May 2019.
Drake has endorsed numerous major brands over the years, including Sprite, Burger King, Whataburger, Nike, and Apple. Upon the launch of Apple Music, Drake signed a $19 million exclusivity deal. This agreement made Apple the exclusive initial home for all future solo releases by Drake.
In 2012, Drake founded OVO Sound, a record label distributed by Warner Bros. Records. In addition to Drake, OVO Sound currently represents the music of PartyNextDoor, Majid Jordan, Kash Doll, and Boi-1da, Future the Prince, Mike Zombie, among others.
He is the Raptors’ “global ambassador” and hosts an annual Drake Night with the team.
In 2016, Drake introduced Virginia Black, his own brand of bourbon-based whiskey. The company sold 4,000 bottles during its first week of business. The company shipped an additional 30,000 units later in the year.
“Away From Home Tour” was the title of Drake’s first headlining tour, which took place in 2010. Through 2019, he embarked on five additional headlining tours. Additionally, he has co-headlined four tours, including one in 2018 with the rap group Migos.
His 2016 “Summer Sixteen Tour” grossed $84.3 million from 54 shows, making it the highest-grossing hip-hop tour of all time. This represents an average gross of $1,565,000 per concert. In 2018, his co-headlining tour with Migos broke the record with $80 million in earnings over 43 dates. This represents an average of $1.86 million per concert.
Every summer, Drake hosts the instantaneously sold-out “OVO Fest” festival in Toronto.
Drake’s ongoing residency at the XS Nightclub in Las Vegas enables him to easily earn $500,000 per performance. He now earns more than $2 million per concert that is more formal.
Over the years, Drake has maintained a number of high-profile relationships. He dated Rihanna intermittently from 2009 to 2016. Later, he would refer to Rihana as “the woman I’ve loved since I was 22 years old.”
In October of 2017, the French model, actress, and artist Sophie Brussaux gave birth to a son named Adonis. Drake did not announce his paternity until 2018.
Is Drake Gay?
No. Drake is a straight man and there’s no evidence of him being gay. He has publicly been involved in romantic relationships with several women some of whom are celebrities and public figures.
Is Drake the Musician related to Actor and singer, Drake Bell?
No. Drake isn’t related to American singer, songwriter and actor, Drake Bell. In fact the two are from different countries and the only similarity they share is the name Drake. So when next someone tells you Drake is related to Drake Bell tell them they are wrong.