What Is Drake’s Net Worth and How He Made it? (2024 Update)

Drake’s wealth exceeded $250 million in 2024, generated by a successful music career and intelligent business decisions. He earns about $3 million monthly, notably from Spotify, adding $50 to $70 million yearly. Along with music, Drake invests in the 100 Thieves esports team and OVO Sound. Besides music, Drake is a savvy businessman and one of the wealthiest figures in entertainment.

Despite his massive earnings, Drake’s lavish spending habits, like splurging $400,000 on a mattress, often grab attention. He invests in luxury cars and jewelry and even owns a Hidden Hills, California mansion.

I will discuss Drake’s net worth throughout this article, from his accomplishments to his continued success as an entertainer. You will also discover Drake’s hidden fortune behind one of the most legendary figures of modern times.

Why is Drake So Popular?

Drake is popular because he blends rap, R&B, and pop, making his music versatile and appealing to a wide audience. He became famous with his 2009 mixtape “So Far Gone” and has since consistently topped charts with hit songs. His relatable lyrics, internet-savvy presence, and viral moments, like the “In My Feelings” dance challenge, keep him culturally relevant. Drake’s success also comes from his strong business acumen, strategic collaborations, and dominance on streaming platforms, making him a global icon in music and entertainment.

What is Drake’s Net Worth?

In 2024, Drake’s financial standing remains strong, with an estimated net worth of $250 million. In the music industry, his steady income of around $3 million per month confirms his popularity.

Now let’s take a look at this quick chart:

Drake’s business ventures and investments have also contributed to his wealth. He founded his record label, OVO Sound, and owns a stake in the famous esports team 100 Thieves. Aside from real estate and cryptocurrency, he also invests in other types of assets. 

Throughout his career, he has built various works showcasing his long-lasting influence. Drake’s popularity extends to digital platforms like Spotify, where he earns $50 million to $70 million annually. It demonstrates the continued demand for his music.

Drake’s financial profile isn’t just defined by earnings; his extravagant spending habits often make headlines. As an example of his penchant for luxury and excess, he once purchased a $400,000 mattress.

He has also spent heavily on expensive jewelry, cars, and private jets. Moreover, he owns a mansion in California’s exclusive Hidden Hills area.

How Does Drake Make Money?

Drake makes money from a successful music career, endorsement deals, real estate investments, a private jet, and an extensive collection of cars, jewelry, and watches. 

Here are a detail of Drake’s net worth and the sources contributing to his fortune:

Here’s how he got the money:

Album Sales and Streaming

Drake’s albums, particularly “Views,” have enjoyed long-term success on the charts, contributing significantly to his earnings. Also, he has generated over 50 billion streams on Spotify, making him the most-streamed artist in the U.S.

Touring Revenue

Here’s a lists of Drake’s all tour and revenue–

Acting

Before his rap career, Drake gained recognition for his role as Jimmy Brooks in “Degrassi: The Next Generation.” 

While his earnings from the show initially started at $40,000 a year, his success in music later eclipsed these figures.

Brands and Businesses

• OVO Sound

Drake’s record label, OVO Sound, has signed notable artists and contributed to his revenue stream.

• OVO Streetwear Line

 The OVO streetwear brand, generating $50 million in revenue by 2018, has been a successful venture for Drake.

Partnerships and sponsorships

• Partnership with Nike

Drake’s collaboration with Nike resulted in exclusive merchandise and limited-edition sneakers. These partnerships capitalize on the intersection of music, fashion, and streetwear culture. It generates significant revenue and enhances Drake’s brand awareness.

• Virginia Black Whiskey

Drake is a co-owner of Virginia Black Whiskey, a premium spirits brand. He is responsible for the brand’s success in the competitive spirits market. Besides expanding his business ventures, Drake’s association with Virginia Black Whiskey has diversified his income.

• Sprite

Drake collaborated with Sprite for their ‘Sparks’ campaign, his first endorsement deal, before releasing his debut album. The collaboration was a huge success, with Drake becoming the face of the campaign for two years. The ad featured Drake rapping about Sprite’s slogan, “Make the Most of Your Summer.”

• Apple Music

Drake’s collaboration with Apple Music since 2015 has been mutually beneficial, contributing to the success of both parties. Apple Music is seeing an increase in subscribers due to Drake’s music. The two companies have also collaborated on exclusive releases and events.

Songwriting and Royalties

Drake earns royalties from his music and the songs he writes for other artists. His songwriting credits on hit tracks contribute to his ongoing income stream. This is especially true since these songs continue to be played and performed.

Brand Ambassadorships

Aside from the companies and products listed earlier, Drake is a brand ambassador for many others. He earns money from these brands’ promotional campaigns, appearances, and endorsements.

Investments in Tech and Startups

Drake has shown interest in investing in technology startups and other ventures outside the music industry. He diversifies and accumulates wealth by investing in promising startups.

Drake’s Net Worth Growth (With Projection)

Projection: If Drake’s net worth continues to grow at the average year-over-year rate seen from 2017 to 2023, his predicted net worth in 2024 would be approximately $290.45 million.

Drake’s Net Worth Comparison With others Rapper

Similar level of Drake’s competitors including Justin Bieber, The Weeknd, Kanye West, Kendrick, Taylor Swift. The following chart shows a comparison.

Early Life

Aubrey Drake Graham was born to divorced parents on October 24, 1986, in Toronto, Canada. His father, Dennis Graham, was a drummer, while his mother, Sandi Graham, worked as an English teacher and florist.

Education

He attended Vaughan Road Academy and Forest Hill Collegiate Institute in Toronto, where he faced challenges due to his biracial and religious background. He dropped out of high school to pursue an acting career.

Relationships

Drake has been involved with several women in the industry, including Sophie Brussaux, with whom he shares a child named Adonis. Drake has also had relationships with Rihanna, Jennifer Lopez, Nicki Minaj, and Kylie Jenner. He has also had rumored relationships with Hailey Baldwin and Bella Hadid.

Drake’s Acting Career

Drake started his career as an actor in 2001, starring in the Canadian TV series “Degrassi: The Next Generation” until 2008.

Drake gained recognition for his role as Jimmy Brooks in this Canadian teen drama. The Next Generation.” 

He portrayed the character for numerous seasons, earning a modest income from his acting endeavors.

Music Career

• Drake released his first mixtape in 2006 and gained attention with subsequent releases. In 2009, Drake signed with Lil Wayne’s Young Money Entertainment, marking a significant musical career milestone.
• His debut album, “Thank Me Later,” launched in 2010, marking a turning point in his music career.

Philanthropy Work

• Jamaican Learning Center: Drake donated $30,000 to build computers for students in Jamaica.
• Houston Appreciation Week: Proceeds from a basketball game organized by Drake went to various charities in Houston.
• Hurricane Harvey Relief: Drake donated $200,000 to relief funds during Hurricane Harvey.
• “God’s Plan” Video: In the music video for “God’s Plan,” Drake gave away $175,000 to strangers and needy families.

Drake’s House

Drake recently acquired a $7.5 million bachelor pad in Hidden Hills, outside of Los Angeles in 2012. Among the luxurious amenities are a tennis court, wine cellar, personal gym, and six bedrooms. 

Drake previously owned multiple properties in the Hidden Hills neighborhood of Los Angeles, but he has since sold them and purchased a larger estate in Beverly Hills.

However, he sold the YOLO Estate and two adjacent ranch properties in 2022 for a combined $22.3 million.

Drake previously owned multiple properties in the Hidden Hills neighborhood of Los Angeles, but he has since sold them and purchased a larger estate in Beverly Hills.

Drake’s Current Beverly Hills Estate

In April 2022, Drake purchased a 20-acre, 20,000 sq ft mansion in Beverly Hills from singer Robbie Williams for around $70 million

The new estate features an elevator, wine cellar, gym, game room, and a mosaic-tiled pool.

However, Drake is now selling this Beverly Hills mansion for $88 million after owning it for just 14 months

Drake’s Car Collection and How much money he spent on it?

Drake’s car collection includes various vehicles, from his first car, an Acura TSX, to a diverse range of luxury automobiles acquired over the years.

Here’s a full list of Drake’s car collection with cost of each-

Awards and Nominations

Drake has won several Grammy Awards, including Best Rap Song, Album, and Best Melodic Rap Performance.  He has been recognized multiple times at the Billboard Music Awards, including Top Artist and Artist of the Decade.

Here’s a table summarizing Drake’s awards and accomplishments:

Investments

Drake has built a diverse portfolio of business ventures and investments, particularly in the entertainment, food, and financial technology sectors.

His most profitable ventures include his OVO clothing line, which generates over $50 million in annual revenue, and his endorsement deals with brands like Apple Music, Nike, Nocta and Stake.com, which can reach up to $100 million per year. 

Drake has also made strategic investments in companies like AC Milan, 100 Thieves, and various startups, demonstrating his business acumen beyond the music industry.

Drake’s recent investments include a minority stake in AC Milan, a $100 million endorsement deal with Stake.com, and stakes in the Brooklyn Aces Major League Pickleball team and plant-based food company Daring Foods. He also invested in StatusPro, a sports technology firm. 

These ventures showcase his strategic approach to diversifying his portfolio across sports, entertainment, and technology.

Final Thoughts on Rapper Drake Net Worth

In conclusion, Drake’s net worth of approximately $250 million solidifies his position as one of the most successful and wealthiest artists in the music industry. His fortune is a result of not only his chart-topping music but also his strategic business ventures, including OVO Sound and Virginia Black. While he may not yet be a billionaire like Kanye West, Drake continues to build his empire and influence, making him a formidable force in both music and entrepreneurship. We estimate that Drake’s net worth will continue to thrive.

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