Drake Net Worth 2024: $250 Million Career Earnings & Success.
What is Drake’s Net Worth?
Drake is a Canadian actor, producer, and rapper with a whopping net worth of $250 million. He’s consistently ranked among the highest-paid entertainers globally. He kicked off his career as an actor on the popular Canadian show “Degrassi: The Next Generation,” but it was his music that really shot him to fame. Since 2006, he’s been churning out hit after hit. His first studio album, “Thank Me Later,” debuted at #1 on the hip-hop charts in 2010, and he hasn’t looked back since. He’s been on non-stop tours, made appearances on various music shows and award ceremonies, and has worked hard to grow his fan base.
Since hitting the big time, Drake has raked in over $430 million throughout his career, not counting taxes and living expenses.
From June 2017 to June 2018, he made $45 million. In 2017 alone, his earnings reached $95 million. Between June 2018 and June 2019, he brought in $75 million, and in the next year, he earned $50 million. You can check out a detailed year-by-year breakdown of his earnings below.
Universal Music Group Contract
During the Q1 earnings call in May 2022, Universal Music Group announced that they had re-signed Drake to a “long-term worldwide partnership.” This agreement covered a wide range of areas, including “recorded music, music publishing, film, television, and brands.” Drake has hinted at this deal in some of his lyrics.
In one track, he mentioned signing a deal that came with “360 up front.” Following Universal’s announcement, some fans interpreted that line to suggest he received $360 million upfront. Other estimates have put the deal’s value at $400 million or even higher. Before this agreement, Drake’s music catalog was already bringing in about $50 million a year for the company.
If the deal was indeed worth $400 million, after taxes, Drake would have theoretically pocketed around $200 million upfront.
Early Life
Aubrey Drake Graham was born on October 24, 1986, in Toronto, Canada. His dad, Dennis, was a drummer who played alongside big names like Jerry Lee Lewis. His mom, Sandra, known as Sandi, worked as an English teacher and also ran a floral business. Drake went to a Jewish day school and had a Bar Mitzvah celebration.
When Aubrey was just five, Sandi and Dennis split up. Dennis moved to Memphis, where he ended up getting arrested and spending several years in prison due to drug-related issues. Aubrey stayed with his mom in Toronto but would visit his dad in Memphis every summer, as long as Dennis wasn’t in jail. Drake has mentioned that he felt his dad was mostly absent during his childhood, a claim Dennis has strongly denied, saying it’s exaggerated for publicity.
From sixth grade onward, Drake and his mom lived in the lower part of a two-story townhouse in a wealthy area called Forest Hill. His mom occupied the main floor, while Drake stayed in the basement. They weren’t wealthy, and money was pretty tight.
While at Forest Hill Collegiate Institute, Drake discovered his passion for acting and music. He later transferred to Vaughan Road Academy, where he faced bullying because of his mixed-race and religious background. He dropped out for a bit but eventually graduated in 2012.
Degrassi
When he was just 15, a friend from his childhood had a dad who was an acting agent, and that connection helped Drake score a role on the popular Canadian teen drama “Degrassi: The Next Generation.” He took on the character of Jimmy Brooks, a talented basketball player who faced life-changing challenges after being shot by a classmate. Drake was part of the cast from seasons 1 to 7, with a few guest spots in 2008.
During his time on Degrassi, Drake’s mom fell ill and couldn’t work, so his earnings from the show became their main source of income for a few years. He was making about $50,000 a year, which breaks down to around $2,000 a month after taxes. He later reflected on this period of his life in a meaningful way.
“My mother was very sick. We were very poor, like broke. The only money I had coming in was off of Canadian TV.”
Music Career
Drake, inspired by rap legends like Jay-Z who made a name for themselves as independent artists before landing major record deals, started dropping mixtapes in 2006.
His journey kicked off in February 2005 with his debut mixtape, “Room for Improvement,” which he released on his website and MySpace. He sold over 6,000 copies directly to fans. The next year, he put out his second mixtape, “Comeback Season,” under his newly formed label, October’s Very Own (OVO Records).
This project included the underground hit “Replacement Girl,” which made history as the first music video from an unsigned Canadian rapper to air on BET. One version of the track even sampled “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.
Jas Prince, the founder of Rap-A-Lot Records based in Houston, caught wind of the single and shared it with Lil Wayne. Wayne was impressed and reached out to Drake, inviting him to Houston to join his Tha Carter III tour. During the tour, the two collaborated on several tracks, including “Brand New,” “Forever,” and “Ransom.”
Young Money Entertainment
Drake wasn’t signed to Wayne’s label just yet, despite what you might think. In 2009, he dropped his third mixtape, “So Far Gone,” which he made available for free on his OVO website. The mixtape featured some big names like Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B. It got off to a hot start, racking up 2,000 downloads in the first hour and eventually went Gold with the RIAA, hitting #2 on the Billboard Hot 100. Later, it was released as an EP, debuting at #6 on the Billboard 200 and snagging the 2010 Juno Award for Rap Recording of the Year.
Even as an independent artist, Drake was becoming a hot commodity in the music scene. This led to a fierce bidding war among various labels eager to sign him, which some have called “the biggest bidding war in music history,” though that’s up for debate.
On June 29, 2009, Drake officially signed with Lil Wayne’s Young Money Entertainment. This deal was a joint venture with Young Money and its parent company, Cash Money, while Universal Music handled the distribution.
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Mainstream Success
Drake dropped his first studio album, “Thank Me Later,” on June 15, 2010. It shot straight to #1 in both Canada and the US. In the US, it topped the Billboard 100, R&B/Hip Hop, and US Rap charts. The album later earned a Platinum certification from the RIAA. His follow-up album, “Take Care,” released in 2011, also climbed to #1 on multiple charts around the world and went on to achieve 6-times Platinum status. Since then, every album he’s released has gone at least 4-times Platinum.
Drake has become a major player in hip-hop and the broader music scene. He’s collaborated with some of the biggest names in the industry, like Kanye West, Eminem, Jay-Z, and Travis Scott. With a ton of award nominations under his belt, he’s snagged over 180 major awards, including four Grammys from more than 40 nominations. When it comes to live shows, Drake pulls in about $1 million per concert.
Singles Sold
Drake is the top-selling artist of all time when it comes to digital singles, having sold over 163 million of them. That’s a whopping 40 million more than Rihanna, who’s in second place. When it comes to albums, he ranks as the 80th highest-selling artist ever, with around 26 million albums sold. This puts him as the third best-selling musician from Canada, trailing behind Shania Twain and Celine Dion, who have sold 48 million and 50 million albums, respectively.
Drake’s Earnings Breakdown
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
YOLO Estate
Drake, originally from Canada, made Hidden Hills, California, his home in 2012 after purchasing a lavish mansion for $7.7 million in cash from the previous owner of Saddle Ranch Bar in Los Angeles. Known as the YOLO Estate, this impressive property includes several residences, with the main house boasting 12,000 square feet and a separate 2,000-square-foot party house.
The estate is packed with amenities like equestrian stables, a 25-seat movie theater, a full-sized basketball court, a sand volleyball court, and one of the largest private pools in Southern California. His stunning lagoon-style pool wraps around the house and features multiple waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy Mansion.
In a chat with Rolling Stone, Drake shared that he had been eyeing this mansion for years after searching for “craziest residential swimming pools” and finding it among the top results. To keep himself motivated, he set a picture of the pool as his computer’s background for years. The previous owner had listed the property for $27 million back in 2009, but by 2012, facing financial difficulties, they sold it to Drake for a much lower price.
In 2015, he expanded his estate by acquiring the adjacent 1.6-acre property for $2.8 million. Then in 2018, he added even more space by purchasing another neighboring house for $4.5 million. Now, his private estate spans 6.7 acres at the end of a cul-de-sac, with a total investment of $15 million in real estate.
Drake put the YOLO Estate on the market in March 2022 for $22.7 million, and buyers could also snag the main mansion for $14.8 million.
Then in April 2022, NFL quarterback Matthew Stafford swooped in and bought two of the three estates that were part of the YOLO Estate for $11 million, which was $3.6 million over the asking price. However, he didn’t get the main “YOLO” mansion in that deal. By July 2022, another buyer picked up the third parcel for $12 million.
Check out this video showcasing the entire three-estate property.
Drake’s Toronto Mansion
Back in 2016, Drake dropped $6.7 million on a piece of land in a fancy Toronto neighborhood known as The Bridle Path. He went all out and built a massive 50,000-square-foot mansion on the two-acre lot. This place has it all: a 10-car garage, a full-size NBA basketball court, a gym, an awards room, and so much more. The master suite is a whopping 3,200 square feet!
He also has a condo in downtown Toronto.
$90 Million Beverly Hills Mansion
On March 8, 2022, news broke that Drake had snagged British singer Robbie Williams’ sprawling 20-acre mansion in Beverly Hills. He scored this beauty in an off-market deal for $75 million. Before Robbie, the property belonged to Armand Marciano, one of the co-founders of Guess? clothing. Drake made the purchase through a company called 11Kip, LLC, taking out a $52.5 million mortgage with Bank of America, which means he put down $22.5 million in cash—about 30% of the total.
Fast forward to May 2023, just over a year after buying the Beverly Hills estate, Drake put it on the market for $88 million. He relisted it for the same price in May 2024.
300+ Acre Texas Estate
Drake just snagged a massive 313-acre estate in Texas for $15 million, which used to be a resort called The Inn at Dos Brisas, now rebranded as Dos Brisas Ranch. Back in the early 2000s, it was a private getaway for a wealthy family who turned it into a resort in 2004. At its height, The Inn at Dos Brisas was a big deal, racking up some serious accolades.
However, like many places in the hospitality industry, it took a hit from COVID and ended up closing its doors for good in 2022. The property went on the market in April 2022 for $17.5 million, but by May 2023, the price dropped to $15 million. Drake swooped in and bought it in October 2023 for an undisclosed amount, but it’s definitely over $10 million.
Air Drake Private Jet
In May 2019, Drake took to Instagram to show off his brand-new Boeing 767 private jet, which he calls “Air Drake” and even gave it a custom paint job. In the video, he proudly states that he owns the jet outright, saying there’s “no rental, no timeshare, no co-owners.” A jet like this, with similar specs and quality, could set you back around $75 to $100 million.
Drake’s Net Worth Milestones
Drake’s Net Worth was estimated back in November 2009, estimating his net worth at around $1 million. He had just signed with Lil Wayne’s Young Money a few months prior. Fast forward to 2012, and his net worth skyrocketed to over $25 million. By 2014, it climbed past $45 million. By the end of 2016, he hit the $80 million mark for the first time. Thanks to his amazing earnings of nearly $100 million in 2017, he easily surpassed $100 million by early 2018. Then in May 2019, his net worth officially crossed the $150 million threshold for the first time.
Business Ventures
Drake has been the face of several big brands over the years, with some of the most notable being Sprite, Burger King, Whataburger, Nike, and Apple. When Apple Music kicked off, he inked a $19 million exclusivity deal, making Apple the go-to platform for all his future solo music releases.
In 2012, he started his own record label, OVO Sound, which is partnered with 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, and Mike Zombie.
Drake also serves as the “global ambassador” for the Toronto Raptors and throws an annual Drake Night with the team.
In 2016, he introduced his own bourbon whiskey brand, Virginia Black, which sold 4,000 bottles in its first week. By the end of that year, they shipped out another 30,000 bottles.
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Tours
Drake kicked off his first headline tour back in 2010 with the “Away From Home Tour.” Since then, he’s gone on to do five more headlining tours up until 2019. He’s also teamed up for four co-headlining tours, including a notable one in 2018 with the rap group Migos.
His “Summer Sixteen Tour” in 2016 set the bar as the highest-grossing hip-hop tour ever at that time, raking in $84.3 million from 54 shows, which averages out to about $1.56 million per concert. Then in 2018, his tour with Migos smashed that record, pulling in $80 million over 43 shows, averaging around $1.86 million each night.
Every summer, Drake hosts the “OVO Fest” in Toronto, and it sells out in no time.
He also has a residency at the XS Nightclub in Las Vegas, where he can pocket around $500,000 for just one night. Nowadays, he’s pulling in over $2 million for a full concert.
Personal Life
Drake has had a number of high-profile relationships over the years. He dated Rihanna on and off between 2009 and 2016. He would later describe Rihanna as “the woman I’ve been in love with since I was 22 years old.”
In October 2017, a French model/actress/artist named Sophie Brussaux gave birth to his son Adonis. Drake did not confirm his fatherhood until 2018.
Drake’s journey from a struggling actor to a global music icon is nothing short of inspiring. With a net worth of $250 million in 2024, his hard work, perseverance, and innovative approach to music and business have solidified his place among the highest-paid entertainers. Through chart-topping albums, lucrative brand partnerships, and smart investments in real estate and ventures, Drake has built an empire.
His ability to diversify his career, from music to business ventures and tours, has kept him at the forefront of the industry, and his legacy continues to grow as he shapes the future of entertainment.
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