Rap music is very popular in the US and attracts a large section of music lovers. Rappers are gaining recognition in different parts of the world when they have excellent skills. Some of them have multi-talent skills, and they showcase them to others in various ways. Aubrey Drake Graham is a famous rapper who is known for his musical talents. Drake net worth is impressive because the artist earns money from different sources. He is a millionaire and set to become a rich person if his net worth continues to grow.
Who is Drake?
Drake is a Canadian rapper who started his career as an actor and shifted his focus to music. He is 37 years old and has achieved various milestones in his life due to his hard work and commitment. The rapper lived a poor life during his childhood and became one of the highest-paid entertainers in the world. Drake is also an entrepreneur, singer, and songwriter, which helped him earn more money.
Sources of income that increased Drake’s net worth
1. Acting
Before entering the music field, Drake got a chance to act in a Canadian television teen drama, “Degrassi: The Next Generation,” through his father’s friend. He played the basketball star role for 1 to 7 seasons. He worked along with Jimmy Brooks and received $2000 as a monthly salary after taxes and a $50,000 salary per year.
2. Music career earnings
Aubrey Drake Graham started releasing his mixtapes to showcase his musical talent and quit acting soon after. Furthermore, he was very inspired by Jay-Z’s rapping skills and wanted to become a rapper. He changed his stage name to “Drake.” The rapper launched his first mixtape in 2005, “Room for Improvement,” which has sold more than 6,000 copies.
His mixtapes gained fame in the music industry, and Drake signed a contract with Young Money Entertainment in 2009. It became a major turning point in Drake’s life when he launched his mainstream career. He established himself as an important figure in the mainstream music industry and is still working as an independent artist.
Drake’s debut studio album, “Thank Me Later,” became a huge hit in 2010 and attained the #1 sales position in the U.S. and Canada. His second album has also hit #1 in various countries, making him one of the most successful artists in hip-hop. Drake earned more income through mainstream releases.
3. Music album sales
Drake started to sell digital singles after signing a contract with Young Money Entertainment, which made him one of the top sellers in the music industry. He has sold more than 160 million digital singles, which has allowed him to increase his income every year.
4. Music tours and live performances
The hip-hop artist earned huge income from his music tours and live performances. Drake’s net worth started to grow through music tours and live performances, which made him a millionaire. For instance, his 2012 “Club Paradise Tour” grossed over $42 million in revenues. He reportedly charges $1 million per concert, which increased his wealth to a greater extent. According to Pollstar, the artist earned over $350 million from his music tours.
5. Major endorsement deals with leading brands
Drake partnered with leading brands, which enabled him to earn lucrative money. He struck an early deal with Sprite in 2013 that paid him $3,000,000. The artist signed a contract with Nike’s Jordan Division in the same year for $10 million plus royalties.
In 2015, Apple Music paid him $19 million to launch their streaming service. Aside from that, he signed a $4,000,000 contract with Whataburger fast food in 2020 that boosted his yearly earnings.
6. Earnings from our record labels
Drake has owned all his master recordings since 2009 and earns more income from streaming and album sales compared to other artists. In 2012, he partnered with Warner Music and founded his own OVO sound recording label.
7. Income from other business deals
Drake launched Virginia Black Whiskey in 2016, which is his own liquor brand, in partnership with investor Brent Hocking, a spirit entrepreneur. He founded his OVO fashion label in 2011, which sells a variety of clothing items and accessories.
What is Drake networth?
Drake earns $70 million per year, which allowed him to become a rich rapper. Drake networth was $25 million in 2012, and it has increased nearly 100% after 10 years. In 2022, he will have a net worth of $250 million.
Drake net worth 2024: A comparison
Drake earns money from various sources, and he has established a great net worth. He has a net worth of $250 million in 2023, and it remains the same in 2024. Drake net worth in 2024 strands at $250 million and is likely to increase. His music skills and entrepreneurial abilities made him more successful in all activities.
The personal life of Drake
Drake is a citizen of both Canada and the USA who travels frequently. He owns a luxury house in Toronto, and its value is $150 million. Furthermore, he invested $7 million in a palatial house in Los Angeles with all modern amenities. The artist is now living an extravagant lifestyle with his family. His dating profiles include celebrities, and he was in a relationship with Rihanna from 2009 to 2016.
The relationship ended soon after, and he started dating a French model and actress named Sophie Brusseux, who gave birth to a boy child in 2017. He has expensive car collections and owns a private jet. Also, he is a philanthropist who donates money for various charity activities.
Conclusion
Drake started his career as an actor and entered the music industry after exploring his skills. His achievements in the music industry can inspire others, especially adults who want to taste success. Moreover, he built his net worth in various ways that allowed him to live a luxurious lifestyle. New rappers can learn more lessons from their lives because they will get more encouragement in life, allowing them to reach the next level in their careers.
