Drake Net Worth (Money & Salary)

What is Drake’s Net Worth?

A Canadian-born actor, producer, and rapper, Drake boasts a net worth of $250 million. He consistently ranks among the highest-paid entertainers globally. Beginning his career as an actor, he appeared on the popular Canadian television series, “Degrassi: The Next Generation.” However, it was his music career that propelled him to global fame, as he has been creating hit after hit since 2006. His first studio album, “Thank Me Later,” debuted at #1 on the hip-hop charts in 2010, and he hasn’t slowed down since. Drake has tirelessly toured, made numerous appearances on music shows and awards, and focused on expanding his fan base.

Since achieving mainstream success, Drake’s career earnings have surpassed $430 million, excluding taxes and living expenses.

Between June 2017 and June 2018, his earnings totaled $45 million. In 2017, he amassed $95 million. From June 2018 to June 2019, he earned $75 million, followed by $50 million in the subsequent year. For a detailed year-over-year breakdown of Drake’s earnings, continue reading.

Universal Music Group Contract

During Universal Music Group’s Q1 earnings call in May 2022, the company announced that it had renewed its partnership with Drake for a “long-term worldwide collaboration.” This agreement encompassed all aspects from “recorded music to music publishing, film, television, and brands.” Drake has referenced this deal in various lyrics. In one track, he mentioned signing an agreement with “360 up front.” Following Universal’s announcement, some interpreted this lyric to suggest he received $360 million upfront. Other estimates have valued the agreement at $400 million or higher. Prior to this agreement, Drake’s music catalog generated around $50 million annually for Universal.

If the deal was indeed valued at $400 million, after taxes, it can be theorized that Drake received $200 million upfront.

Early Life

Aubrey Drake Graham was born on October 24, 1986, in Toronto, Canada. His father, Dennis, was a drummer who collaborated with artists such as Jerry Lee Lewis. His mother, Sandra, known as Sandi, was an English teacher and florist. Drake attended a Jewish day school and celebrated his Bar Mitzvah.

Aubrey’s parents divorced when he was five years old. Following the split, his father moved to Memphis, where he was later arrested and imprisoned for several years due to drug-related charges. Aubrey stayed in Toronto with his mother but would visit his father in Memphis every summer, provided his father was not incarcerated. Drake has characterized Dennis as absent during his upbringing, a claim that Dennis has strongly refuted, arguing it was exaggerated to promote record sales.

From sixth grade onward, Drake and his mother lived in a two-story townhome located in the affluent suburb of Forest Hill. His mother occupied the street-level floor, while Drake resided in the basement. They were not wealthy; in fact, they faced financial difficulties.

While studying at Forest Hill Collegiate Institute, Drake developed a passion for acting and singing. He later transferred to Vaughan Road Academy, where he faced bullying due to his bi-racial and religious heritage. Although he briefly dropped out, he eventually graduated in 2012.

Degrassi

At the age of 15, a friend’s father, who was an acting agent, assisted Drake in securing a role on “Degrassi: The Next Generation,” a popular Canadian teen drama series. He portrayed Jimmy Brooks, a basketball star who…disabled after a classmate shot him. He participated as a cast member in seasons 1 through 7, also making guest appearances in 2008.

While Drake starred in Degrassi, his mother fell ill and was unable to work. For several years, their only source of income was Drake’s Degrassi earnings. During that time, he was making $50,000 annually from the show, which translated to approximately $2,000 monthly after taxes. He later reflected on this challenging period:

“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

In February 2005, his first mixtape, “Room for Improvement,” was released via his website and official MySpace page. He successfully sold over 6,000 copies directly. The following year, he released his second mixtape, “Comeback Season,” through his newly established label, October’s Very Own (OVO Records). This mixtape included an underground hit single titled “Replacement Girl.” The music video for the track became the first one featuring an unsigned Canadian rapper to be shown on BET. One version of the song incorporated a spliced sample from “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.

Jas Prince, a Houston-based producer and founder of Rap-A-Lot Records, discovered the single and passed it along to Lil Wayne. Impressed, Lil Wayne reached out to Drake, inviting him to fly to Houston and join his Tha Carter III tour. Throughout the tour, Drake and Wayne collaborated on several tracks, including “Brand New,” “Forever,” and “Ransom.”

Young Money Entertainment

Contrary to what some might think, Drake had not yet signed with Wayne’s record label at that time. He released a third mixtape, “So Far Gone,” in 2009, making it available as a free download on his OVO website. Featuring contributions from Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B, the mixtape was downloaded 2,000 times within its first hour and was eventually certified Gold by the RIAA, reaching #2 on the Billboard Hot 100. Later, it was released as an EP, debuting at #6 on the Billboard 200 and winning the 2010 Juno Award for Rap Recording of the Year.

Remaining an independent musician, Drake’s popularity surged within the music industry, leading to a fierce bidding war among various record labels eager to secure his contract. This has often been described as “the biggest bidding war in music history,” although this claim is unverified.

On June 29, 2009, Drake officially signed with Lil Wayne’s Young Money Entertainment. This record deal was structured as a joint venture between Young Money and its parent company, Cash Money, while Universal Music handled distribution.

Mainstream Success

Drake’s first studio album, “Thank Me Later,” was

on June 15, 2010, the album was released and quickly reached #1 in both Canada and the US. In the US, it achieved the #1 position on the Billboard 100, #1 on the R&B/Hip Hop charts, and #1 on the US Rap charts. Eventually, it received Platinum certification from the RIAA.

His second studio album, “Take Care”, which came out in 2011, also secured the #1 spot on various charts across multiple countries, ultimately achieving 6-times Platinum status.

Since then, every subsequent album has been certified at least 4-times Platinum.

Recognized as one of the most powerful and successful figures in the hip-hop scene and the broader music industry, Drake has collaborated with numerous prominent stars, including Kanye West, Eminem, Jay-Z, and Travis Scott. His nominations for awards are countless, and as of this moment, he has clinched over 180 major awards, including four Grammy Awards from more than 40 nominations.

Drake reportedly earns around $1 million for each concert.

Singles Sold

In terms of digital singles sold, Drake holds the record as the highest-selling artist in history, with over 163 million digital singles sold as of now. This figure exceeds the second-place artist, Rihanna, by 40 million. Regarding album sales, he ranks as the 80th highest-selling musician ever, with an estimated 26 million albums sold, making him the third best-selling Canadian musician after Shania Twain (48 million) and Celine Dion (50 million).

Drake’s Earnings By Year

• 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

Although originally from Canada, Drake made Hidden Hills, California, his home in 2012 after purchasing a lavish mansion from the previous owner of Los Angeles’ Saddle Ranch Bar for $7.7 million cash. Known as the YOLO Estate, the property includes multiple residences, featuring a 12,000-square-foot main house and a 2,000-square-foot party house. Among its offerings are equestrian stables, a 25-person movie theater, a full-sized basketball court, a sand volleyball court, along with one of the largest privately owned pools in Southern California. His immense lagoon-style pool wraps around the house’s exterior and boasts several waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy mansion.

During an interview with Rolling Stone, Drake revealed that he had long desired this mansion after he stumbled upon it while Googling “craziest residential swimming pools”. It served as a source of inspiration, as he kept a photo of the pool as his computer’s background for years. Initially listed in 2009 for $27 million, the former owner faced financial difficulties by 2012, allowing Drake to acquire it for $7.7 million.

In 2015, he expanded his property by purchasing an adjacent 1.6-acre estate for $2.8 million. By 2018, he enlarged the estate further.

Again, he invested $4.5 million to acquire another neighboring house, bringing his private estate to 6.7 acres of connected property located at the end of a cul-de-sac, with real estate acquisition costs totaling $15 million.

In March 2022, Drake listed the YOLO Estate for $22.7 million, offering buyers the chance to purchase the primary mansion for $14.8 million as well.

In April 2022, NFL star Matthew Stafford secured a deal for $11 million (which was $3.6 million above asking) for two of the three estates that previously constituted the YOLO Estate. However, Matthew’s purchases did not encompass the main “YOLO” mansion. Then, in July 2022, a buyer paid $12 million for the third parcel.

A video showcasing the entire 3-estate property can be found here:

Toronto Mansion

Drake made a $6.7 million investment in 2016 to acquire a plot of land in a Toronto suburb known as The Bridle Path. He then constructed a 50,000-square-foot mansion on the two-acre site. The residence includes a 10-car garage, a regulation-size NBA basketball court, a gym, an awards room, and more. The master bedroom alone spans 3,200 square feet.

Additionally, he owns a condo located in downtown Toronto.

$90 Million Beverly Hills Mansion

On March 8, 2022, news emerged that Drake had finalized a $75 million off-market deal for British singer Robbie Williams’ 20-acre Beverly Hills mansion. Prior to Robbie Williams, the property was owned by Guess? clothing brand co-founder Armand Marciano. Drake completed the purchase through a corporate entity named 11Kip, LLC, financing it with a $52.5 million mortgage from Bank of America, which required him to provide $22.5 million in cash, amounting to exactly 30% of the purchase price.

In May 2023, just over a year after acquiring the Beverly Hills mansion for $75 million, Drake listed it for $88 million. He relisted it for the same amount in May 2024. Here is a video tour of Drake’s Beverly Hills estate:

300+ Acre Texas Estate

In October 2023, Drake purchased a 313-acre property previously known as The Inn at Dos Brisas for $15 million; it is now referred to as Dos Brisas Ranch. This estate was a private compound for a wealthy family before being converted into a resort in 2004, achieving considerable popularity and recognition during its peak.

However, similar to many hospitality ventures, The Inn faced severe challenges due to COVID-19 and permanently closed in 2022. The property was initially listed for $17.5 million in April 2022, with the price dropped to $15 million by May 2023. Drake acquired the estate in October 2023 for an undisclosed amount exceeding $10 million. Here is a video tour:

Air Drake Private Jet

In May 2019, Drake showcased his newly acquired Boeing 767 private jet on Instagram, which he has named (and painted) “Air Drake.” He expressed immense pride in owning the jet outright, highlighting that it is exclusively his: “no rental, no timeshare, no co-owners.”

A private jet of comparable model and quality would have an estimated value between $75 and $100 million.

Milestones of Drake’s Net Worth

In November 2009, we first included Drake in Celebrity Net Worth, estimating his net worth at $1 million, following his recent signing with Lil Wayne’s Young Money. By 2012, his net worth increased to over $25 million. In 2014, he surpassed $45 million. It was late 2016 when he first crossed the $80 million mark. Propelled by earnings nearing $100 million in 2017, he reached over $100 million by early 2018, and in May 2019, his net worth exceeded $150 million for the first time.

Ventures in Business

Drake has been associated with numerous major brands throughout the years, including Sprite, Burger King, Whataburger, Nike, and Apple, with Apple’s significant $19 million exclusivity deal at the launch of Apple Music, granting Apple exclusive access to all his future solo releases.

In 2012, he established his own record label, OVO Sound, which operates under Warner Bros. Records. Currently, OVO Sound represents artists such as PartyNextDoor, Majid Jordan, and Kash Doll, along with producers like Boi-1da, Future the Prince, and Mike Zombie, in addition to Drake.

Serving as the “global ambassador” for the Toronto Raptors, he hosts an annual Drake Night alongside the team.

In 2016, he introduced his bourbon-based whiskey brand, Virginia Black, which sold 4,000 bottles in its launch week and went on to ship an additional 30,000 units later that year.

Touring History

The “Away From Home Tour” in 2010 marked Drake’s first headlining tour. By 2019, he had conducted five more headlining tours, as well as co-headlined four, including a 2018 tour with Migos.

His “Summer Sixteen Tour,” held in 2016, became the highest-grossing hip-hop tour ever at the time, bringing in $84.3 million from 54 shows, averaging $1.56 million per concert. This record was surpassed by the Migos co-headlining tour in 2018, which earned $80 million over 43 dates, averaging $1.86 million per concert.

Every summer, Drake hosts the “OVO Fest” in Toronto, which sells out immediately.

Drake’s ongoing residency at the XS Nightclub in Las Vegas can earn him up to $500,000 per appearance, while he now makes over $2 million for a more formal concert.

Overview of Personal Life

Over the years, Drake has been involved in various high-profile relationships, including an on-and-off romance with Rihanna from 2009 to 2016, whom he later referred to as “the woman I’ve been in love with since I was 22 years old.“

In October 2017, he welcomed a son named Adonis with French model/actress/artist Sophie Brussaux, confirming his fatherhood in 2018.