Drake Net Worth 2024: An Inspiring Rags To Riches Story

If one would make a list of really successful artists today who can proudly claim a rags-to-riches story, then Drake will definitely be prominently featured. Beyond his music, he has also ventured into business, including his own record label and collaborations with major brands, solidifying his status as one of the most influential figures in the music industry.

Net worth

The net worth of Drake is roughly around $250 million, an amount that not every celebrity reaches. However, Drake is not just a celebrity as he has built his wealth from a host of sources.

His journey to stardom began in the world of acting, initially appearing in commercials. His major breakthrough came under his birth name, Aubrey Graham, when he landed the lead role as Jimmy Brooks on the popular Canadian teen series "Degrassi." Starting his stint on the show in 2001, Drake's character faced significant challenges, portraying Jimmy as a talented high school basketball player whose life takes a dramatic turn after being shot by a classmate, leading to him being wheelchair-bound.

Sources

Drake's impact on the music industry has been immense, with his albums consistently dominating the charts since his debut. His success with platinum-certified albums like "Take Care," "Nothing Was the Same," and "Views" has been a significant source of his wealth, alongside his popularity on streaming platforms like Spotify and Apple Music.

His success extends beyond album sales and streaming royalties; his lucrative concert tours and live performances have played a significant role in building his net worth. Headlining tours like the Club Paradise Tour, Would You Like a Tour?, and the record-breaking Aubrey & The Three Migos Tour have collectively grossed millions of dollars, further solidifying Drake's financial success.

The rapper's influence extends beyond music; he has also secured lucrative endorsement deals with major brands like Sprite, Nike, and Apple Music. His partnership with Apple Music in 2016, reportedly worth $19 million, included exclusive releases and promotional appearances. These deals have undoubtedly contributed to Drake's overall net worth.

Drake's entrepreneurial spirit has led him to explore various business ventures. In 2012, he co-founded the record label OVO Sound, which has become home to several successful artists. Additionally, Drake has launched his own clothing line, OVO (October's Very Own), known for its high-end streetwear and accessories. These ventures have not only diversified Drake's portfolio but also contributed significantly to his overall wealth.

Drake's latest album, "Certified Lover Boy," debuted with impressive numbers, selling and streaming 613,000 copies in its first week in September 2021. The album garnered a total of 743.67 million streams, equivalent to 562,000 album units, making it the second-highest streaming record in Drake's career, behind only "Scorpion," which amassed 745.92 million streams in 2018.

Based on reports that streaming service Apple Music pays approximately 0.00783 cents per stream, a hypothetical scenario where all 743 million streams of "Certified Lover Boy" were from Apple Music alone would have generated close to $6 million in revenue.

According to the same report, Drake's milestone of reaching 10 billion streams on Apple Music in July 2018, just before the release of "Scorpion," would have potentially earned him an incredible $78 million.

In 2020, Drake reportedly earned around $50 million. If the COVID-19 pandemic had not disrupted live musical performances, it's likely he would have earned even more. His estimated annual salary is believed to average a remarkable $70 million.

Drake's remarkable Grammys streak

• Best Rap Album - Take Care (2013)
• Best Rap/Sung Performance - "Hotline Bling" (2017)
• Best Rap Song - "Hotline Bling" (2017)
• Best Rap Song - "God's Plan" (2019)
• Best Melodic Rap Performance - "Wait for U" (2023)

Tough early life

Drake was raised by biracial parents who divorced when he was 5. His father, Dennis Graham, is Black and Catholic; his mother, Sandra, is white and Ashkenazi Jewish Canadian.

"We have a very deep musical background. My grandmother, who passed away in Memphis, used to babysit Louie Armstrong. And my dad was a drummer for Jerry Lee Lewis," Drake told Hip Hop Canada in 2006. "On my mom's side, it's a white, Jewish, very structured and conservative family."

"There are a lot of accolades on that side of the family too," he added. "I am aware that I am not the first person [in the family to embrace music] but I would like to become the first one to be an icon."

Drake's resilience

Drake's upbringing was marked by challenges, including his mother's health issues and their financial struggles. Despite later moving to the affluent neighborhood of Forest Hill, Drake emphasizes that he did not grow up in luxury and describes his childhood home as modest. His mother, who is Jewish, worked hard to provide the best for their family, highlighting the resilience and determination that have shaped Drake's outlook on life.