Drake Net Worth (Money & Salary)
Title: Drake Net Worth (Money & Salary)
Last Updated: November 27, 2024
What is Drake’s Net Worth?
A net worth of $250 million belongs to Drake, a Canadian-born actor, producer, and rapper. He consistently ranks among the highest-paid entertainers globally. Beginning his journey as an actor, he featured in the popular Canadian series “Degrassi: The Next Generation.” Nonetheless, it was through music that he gained international fame, and since 2006, he has been producing hit after hit. His first studio album, “Thank Me Later,” debuted at #1 on the hip-hop charts in 2010, marking the start of a prolific career. Drake has maintained a relentless touring schedule, made numerous appearances on music programs and award ceremonies, focusing on expanding his fan base significantly.
Since achieving mainstream recognition, Drake has amassed over $430 million in his career before taxes and living expenses.
From June 2017 to June 2018, Drake generated $45 million in earnings. In the calendar year of 2017, his total earnings reached $95 million. From June 2018 to June 2019, he earned $75 million, and in the subsequent year, he brought in $50 million. A detailed year-by-year summary of Drake’s earnings can be found below.
Universal Music Group Contract
During Universal Music Group’s Q1 earnings discussion in May 2022, they announced that they had renewed their contract with Drake for a “long-term worldwide partnership.” This agreement encompassed everything from “recorded music to music publishing, film, television, and brands.” Drake has referenced this contract in some of his lyrics. In one instance, he mentioned signing a deal that included “360 up front.” Following Universal’s announcement, many interpreted that line to suggest he received $360 million upfront. Other estimates concerning the deal value have reached $400 million or even higher. In the years leading up to this agreement, Drake’s music catalog was reportedly generating $50 million in yearly revenue for the company.
If the deal was indeed worth $400 million, Drake would have theoretically netted $200 million after taxes.
Early Life
Aubrey Drake Graham was born on October 24, 1986, in Toronto, Canada. His father, Dennis, was a drummer who played alongside famous musicians such as Jerry Lee Lewis. His mother, Sandra (also known as Sandi), was an English teacher and florist. Drake attended a Jewish day school and celebrated his Bar Mitzvah in a formal ceremony.
When Aubrey was five years old, his parents divorced. Following the split, his father relocated to Memphis, where he was eventually arrested and served several years for drug-related charges. Aubrey stayed with his mother in Toronto but would visit his father in Memphis each summer (when Dennis was not incarcerated). Drake has described his father as being absent throughout his childhood, though Dennis has strongly denied these claims and argued they were exaggerated for record sales.
From sixth grade onwards, Drake and his mother resided in the lower half of a two-story townhouse in a wealthy area known as Forest Hill. While his mother occupied the street-level floor, Drake lived in the basement. Financially, they struggled, and money was often tight.
While attending Forest Hill Collegiate Institute, Drake developed a passion for acting and singing. He later enrolled at Vaughan Road Academy, where he faced bullying due to his bi-racial and religious background. Although he dropped out for a while, he ultimately graduated in 2012.
Degrassi
At the age of 15, Drake secured a role on the long-running Canadian teen drama series “Degrassi: The Next Generation,” thanks to the assistance of a friend’s father who worked as an acting agent. He portrayed Jimmy Brooks, a basketball star who…
disabled after a classmate shot him. He was part of the cast for seven seasons, making guest appearances in 2008.
During his time on Degrassi, his mother fell ill and was unable to work. His paychecks from Degrassi became their sole source of income for years. At that time, he earned an annual salary of $50,000 from the show, which was approximately $2,000 monthly after taxes. He later reflected on that period as follows:
“We were very poor, like broke. My mother was very sick. 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 MySpace page, selling over 6,000 copies directly. The following year, he put out his second mixtape, “Comeback Season,” through his newly formed label, October’s Very Own (OVO Records). This mixtape included an underground hit single titled “Replacement Girl,” accompanied by a music video that was the first of its kind from an unsigned Canadian rapper to be showcased on BET. One variation of the track incorporated a sample from “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.
Responding to the single, Houston-based producer and Rap-A-Lot Records founder Jas Prince shared it with Lil Wayne. Impressed by what he heard, Lil Wayne contacted Drake and invited him to Houston to join his Tha Carter III tour. Throughout the tour, Drake collaborated with Wayne to write and record numerous songs, including “Brand New,” “Forever,” and “Ransom.”
Young Money Entertainment
Contrary to what might be expected, Drake had not yet signed with Wayne’s label at this stage. In 2009, he released his third mixtape, “So Far Gone,” offering it as a free download on his OVO website. The mixtape featured contributions from Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B. Within the first hour, it was downloaded 2,000 times and ultimately earned Gold certification from the RIAA, reaching #2 on the Billboard Hot 100. Later, it was released as an EP, which debuted at #6 on the Billboard 200 and garnered the 2010 Juno Award for Rap Recording of the Year.
As an independent artist, Drake had now become highly sought after in the music industry, leading to a fierce bidding war among several labels eager to sign him. This frenzy has been described as “the biggest bidding war in music history,” although that remains unconfirmed.
On June 29, 2009, Drake officially signed a contract with Lil Wayne’s Young Money Entertainment. The deal was a collaboration between Young Money and its parent company, Cash Money, with distribution handled by Universal Music.
(Photo by Frazer Harrison/Getty Images)
Mainstream Success
Drake’s debut studio album, “Thank Me Later”, was
launched on June 15, 2010. The album reached #1 in both Canada and the US. Specifically, in the US, it topped the Billboard 100, the R&B/Hip Hop, and the US Rap charts. Ultimately, it achieved Platinum certification by the RIAA.
His second studio album, “Take Care,” released in 2011, also reached #1 across multiple charts in various countries, eventually going 6-times Platinum.
Every subsequent album of his has garnered at least 4-times Platinum status.
Drake stands as one of the most formidable and successful figures in hip-hop, as well as the broader music industry. He has collaborated with numerous prominent artists, including Kanye West, Eminem, Jay-Z, and Travis Scott. Drake has received countless award nominations. As of this moment, he has triumphed in over 180 major awards, which include four Grammys out of more than 40 nominations.
Drake reportedly earns around $1 million per concert.
Singles Sold
Drake holds the record for selling more digital singles than any other artist in history. As of now, he has sold over 163 million digital singles, which is 40 million more than Rihanna, who comes in second. In terms of album sales, he ranks as the 80th best-selling musician of all time with an estimated total of 26 million albums sold. This positions him as the third-best-selling Canadian artist in history, 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
Although Drake was born in Canada, he began to consider Hidden Hills, California, as his home in 2012 after purchasing a lavish mansion in cash for $7.7 million from the former owner of Los Angeles’ Saddle Ranch Bar. Dubbed the YOLO Estate, the property comprises multiple residences, including a 12,000-square-foot main house and a 2,000-square-foot party house. It also boasts equestrian facilities, a movie theater for 25, a full-sized basketball court, a sand volleyball court, and one of the largest private pools in Southern California. His lagoon-style pool, which wraps around the home’s exterior, features several waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy mansion.
In a Rolling Stone interview, Drake revealed that he had been eyeing this mansion for years after discovering it while searching for “craziest residential swimming pools” online, which made it among the results. To motivate himself, he used a pool photo as his computer’s background for many years. The previous owner had listed the house for $27 million in 2009, but in 2012, facing financial difficulties, sold it to Drake 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 enhanced the estate further…
Once again, he spent $4.5 million to acquire another neighboring house, expanding his private estate to 6.7 acres of contiguous property located at the end of a cul-de-sac, representing $15 million solely in real estate acquisition costs.
In March 2022, Drake listed the YOLO Estate for $22.7 million, with the option for buyers to purchase the primary mansion for $14.8 million.
In April 2022, NFL star Matthew Stafford bought two of the three estates that previously comprised the YOLO Estate for $11 million, which was $3.6 million above the asking price. However, Matthew’s two acquisitions did not include the main “YOLO” mansion. By July 2022, another buyer purchased the third parcel for $12 million.
The following video showcases the complete 3-estate property:
Toronto Mansion
In 2016, Drake invested $6.7 million in a plot of land in suburban Toronto, situated in an area known as The Bridle Path. He went on to construct a 50,000-square-foot mansion on this two-acre estate, featuring amenities like a 10-car garage, an NBA regulation-size basketball court, a gym, an awards room, and more. Notably, the master bedroom spans an impressive 3,200 square feet.
Additionally, he owns a condominium in downtown Toronto.
$90 Million Beverly Hills Mansion
On March 8, 2022, reports revealed that Drake secured 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 was owned by Armand Marciano, co-founder of the Guess? clothing brand. Drake acquired this home through a corporate entity named 11Kip, LLC, taking out a $52.5 million mortgage with Bank of America, which means he paid $22.5 million in cash upfront, constituting exactly 30%.
In May 2023, just over a year after acquiring the Beverly Hills property for $75 million, he listed the mansion for $88 million. In May 2024, he relisted it at the same price. Take a look at this video tour of Drake’s Beverly Hills mansion:
300+ Acre Texas Estate
In October 2023, Drake acquired a 313-acre property—formerly a resort known as The Inn at Dos Brisas—for $15 million. This estate served as a private compound for a wealthy family in the early 2000s before being converted into a resort in 2004. During its peak, The Inn at Dos Brisas enjoyed significant popularity and acclaim.
However, like many hospitality businesses, the Inn faced severe challenges due to COVID and was permanently closed in 2022. The estate was listed on the market in April 2022 for $17.5 million, with the price subsequently reduced to $15 million in May 2023. Drake purchased the property in October 2023, with the amount being undisclosed but exceeding $10 million. Here is a video tour:
Air Drake Private Jet
In May 2019, Drake shared a video on Instagram showcasing his newly-acquired Boeing 767 private jet, proudly named (and painted) “Air Drake.” The video reveals Drake’s excitement about owning the jet outright, emphasizing that it is his alone, stating, “no rental, no timeshare, no co-owners.”
A private jet of similar model and quality would be valued between $75 – $100 million.
(Photo by Tom Szczerbowski/NBAE/Getty Images)
Milestones in Drake’s Net Worth
In November 2009, we included Drake in Celebrity Net Worth, estimating his net worth at $1 million. This followed his signing with Lil Wayne’s Young Money earlier that year. By 2012, his net worth had increased to over $25 million. It surpassed $45 million by 2014, and towards the end of 2016, it exceeded $80 million for the first time. Due to his remarkable earnings nearing $100 million in 2017, he comfortably exceeded $100 million by early 2018. In May 2019, he recorded his first net worth exceeding $150 million.
Business Endeavors
Throughout the years, Drake has been a spokesperson for several major brands, including, most notably, Sprite, Burger King, Whataburger, Nike, and Apple. When Apple Music debuted, Drake entered into a $19 million exclusivity agreement, establishing Apple as the exclusive initial platform for all of his future solo releases.
In 2012, he founded his own record label, OVO Sound, which is distributed by Warner Bros. Records. Besides Drake, OVO Sound now represents artists like PartyNextDoor, Majid Jordan, and Kash Doll, along with producers such as Boi-1da, Future the Prince, Mike Zombie, among others.
Additionally, he serves as the “global ambassador” for the Toronto Raptors and organizes an annual Drake Night with the team.
In 2016, Drake introduced his own bourbon-based whiskey brand named Virginia Black. The company reportedly sold 4,000 bottles within its first week of launch and later distributed another 30,000 units within the same year.
Concert Tours
His inaugural headlining tour was the 2010 “Away From Home Tour.” Up to 2019, he undertook five more headlining tours and co-headlined four additional tours, including a 2018 tour alongside the rap group Migos.
The “Summer Sixteen Tour” in 2016 set the record as the highest-grossing hip-hop tour to date, with earnings of $84.3 million across 54 shows, averaging $1.56 million per concert. The Migos co-headlining tour shattered that record in 2018, grossing $80 million over 43 dates, averaging $1.86 million per concert.
Each summer, Drake hosts a festival called “OVO Fest” in Toronto, which sells out instantly.
Moreover, he has a continuing residency at the XS Nightclub in Las Vegas, which can generate him upwards of $500,000 for a single appearance, and he now averages over $2 million for a more formal concert.
Life Outside of Music
Over the years, Drake has experienced several high-profile relationships, most notably his 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, his son Adonis was born to a French model/actress/artist named Sophie Brussaux. Drake did not acknowledge his fatherhood until 2018.
Drake Net Worth (Money & Salary)
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Data is sourced from 2023 and 2024, with projections extending into 2025 and 2026. Additionally, we have expanded 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 27, 2024
