Drake Net Worth
Drake Net Worth: $55,000,000
Sources: Young Money Entertainment, Sprite, Kodak, Virgin Airlines, acting, songwriting
Aubrey “Drake” Graham is a rapper, actor, and songwriter with a net worth of $55 million. He was born in Toronto, Ontario, Canada. After his rise to fame as a young actor on “Degrassi: The Next Generation,” he has launched a successful hip-hop career that now earns him between $10 and $20 million annually.
Drake’s success as a musician was partly thanks to the power of Myspace and the internet. Although he was initially known for his role as Jimmy Brooks on the hit Canadian TV show “Degrassi: The Next Generation,” he caught the attention of top hip-hop artists like Lil Wayne, Kanye West, and Jay-Z thanks to a series of self-released mixtapes. Beginning in 2006, Drake began putting out mixtapes on his own website and on his Myspace page. His first, called “Room for Improvement,” featured Trey Songz and Lupe Fiasco. In 2008, Lil Wayne was introduced to Drake’s music through Jas Prince. That discovery prompted Lil Wayne to invite Drake to Houston to tour with him and record on some songs.
Drake Gives Jas Prince A Lamborghini to Thank Him for Introducing Him to Lil Wayne!
Drake then became a member of Lil Wayne’s crew, but remained an unsigned artist. He released another mixtape in 2009 entitled “So Far Gone,” which featured Lil Wayne, Bun B, Omarion, Lloyd, and Trey Songz. In June of 2009, after a massive bidding war between a number of major labels including Universal and Atlantic records, Drake officially signed on with Lil Wayne’s Young Money Entertainment.
The next year, Drake issued his full-length major label debut, “Thank Me Later,” which debuted at number one on the U.S. Billboard 200 chart and was certified platinum. His 2011 follow-up “Take Care,” won him a Grammy for Best Rap Album.
A good deal of Drake’s income currently comes from album sales and touring. To date, he has sold over 5 million albums worldwide. Also, his “Club Paradise Tour” netted him $42 million last year, with a reported gross of over $500,000 per night. Club Paradise Tour was the most successful Hip-Hop tour of 2012.
In addition to his radio-friendly singles, his slogan “Y.O.L.O. (You Only Live Once),” which has taken off on social media thanks to the song “The Motto,” appears to be catching on as well. But this slogan is the one aspect of Drake’s career that he has not been able to cash in on. Last year, the department stores Walgreens and Macy’s both started selling clothing with the phrase “Y.O.L.O.” printed on them. When Drake found out, he slammed both stores, saying: “You gotta either chill or cut the cheque.”
In other areas, however, Drake has been successful at raking in profits. He earned an estimated $20.5 million last year from his music and acting careers, as well as a string of high-paying endorsements. Here’s how he makes his money now:
Young Money Records
As a Young Money artist, Drake is officially part of Lil Wayne’s crew. Young Money Entertainment is an imprint of Cash Money Records, which is distributed by Republic records under the umbrella of Universal Island records. Drake signed with Young Money in 2009 as a joint venture between Young Money and Cash Money.
In addition to his own songs, Drake has also written music for other artists including Dr. Dre, Alicia Keys, and Jamie Foxx.
Drake started his acting career at the age of 15 when he landed his role on “Degrassi: The Next Generation.” He was a regular on the show from 2001 to 2009, and during that time also had roles on other TV shows such as “Blue Murder,” “Soul Food,” “The Border,” and “Being Erica.” While this career may have helped to increase his star power, Drake later said that it didn’t help him put very much money in the bank. “A season of Canadian television is under a teacher’s salary, I’ll tell you that much,” he said.
After 2009, Drake took a break from acting to pursue his music career, but returned in 2012 to provide the voice of Ethan in the animated film “Ice Age 4: Continental Drift.”
Started From The Bottom
Virgin Airlines “Air Drake”
Two weeks after the release of his debut studio album, Drake became the first hip-hop artist ever to have his face displayed on the side of an airplane. Virgin’s “Air Drake” Airbus A320 was launched in order to celebrate the airline’s first flight from L.A. to Drake’s native Toronto. Drake was on the inaugural flight himself, along with Virgin Group chairman Sir Richard Branson (they also made a pit-stop to pick up Arnold Schwarzenegger along the way).
Drake’s 2010 deal with Coca Cola’s Sprite brand was his first major endorsement contract. In the deal, Sprite enlisted Drake to spearhead their “Spark” campaign, which gave kids the opportunity to create mini-movies using digital video content and remix some of Drake’s songs. The campaign was unleashed at the 2010 NBA all-star game, and included print, TV, outdoor, and mobile ads featuring Drake. Drake said that he was attracted to the campaign because it was “really about creativity through music and film” and promoted “fresh thinking and originality.”
Later in 2010, Kodak recruited Drake, Pitbull, and Drake’s friend Trey Songz for their “So Kodak” marketing campaign, which included print, online and TV ads. The three artists launched the campaign with a performance at the Best Buy theatre in New York in October 2010.
Drake – The Motto
Latest Venture: New Album
At the 2013 Grammy Awards, Drake announced that the title of his third studio album would be “Nothing Was the Same.” The video for the first single, “5AM in Toronto,” was released on April 1, 2013. In a recent interview with Billboard Magazine, Drake stated that his new album will have a much different feel than his last.
Growing up in a middle-class Canadian suburb, Drake has transitioned remarkably well to the life of a famous hip-hop star. After struggling to deal with his parents’ divorce in his younger years, he has managed to find success and carve out a solid $40 million net worth for himself. That’s a pretty good number for someone who’s still only 26 years old.