Psy Net Worth (Money & Salary)
Title: Psy Net Worth (Money & Salary)
Last Updated: February 5, 2025
What Is Psy’s Net Worth?
Psy, a South Korean rapper, boasts a net worth of $60 million, largely attributed to the massive success of his catchy track and YouTube music video “Gangnam Style.”
For audiences beyond South Korea, Park Jae-Sang, widely recognized as Psy, seemed to burst onto the scene suddenly. His hit song “Gangnam Style” captured global attention, becoming one of the most-viewed videos in YouTube history. Prior to his international break, he was often seen as a controversial figure in Korea. Unlike typical K-pop stars who are usually young, impeccably trained, and conventionally attractive, Psy is older, has a fuller figure, dances in his unique style, dropped out of the prestigious Berklee Music School, and frequently releases songs with provocative lyrics that often lead to bans or age restrictions. Despite winning a plethora of music awards, he faced significant backlash from various civil groups in Korea.
Following his compulsory military service, Psy was informed that his previous service was invalid, resulting in a two-year extension. During this period, he could not create music, leading to financial struggles, prompting him to join YG Entertainment, a reputable Korean music label owned by a friend. Initially, other artists within the label resisted his signing, as the label catered predominantly to the teenage demographic. Their concerns turned out to be unfounded when the lead single from his second album with the label shot him to global stardom.
How much money did Psy make from “Gangnam Style”?
The phenomenal success of “Gangnam Style” allowed Psy to amass a considerable fortune in the song’s first year. With 7 billion views on the video, he reaped millions in ad revenue. From 4 million iTunes downloads alone, he earned about $4 million, while his streaming income was relatively modest at approximately $500,000. Additionally, endorsement deals with brands like Samsung contributed an estimated $8 million to his earnings. Overall, the astounding success of “Gangnam Style” has brought over $20 million into Psy’s finances, excluding taxes, management fees, and other deductions.
Psy’s Family Has Also Earned Millions
During the frenzy surrounding “Gangnam Style,” another fascinating development occurred for Psy and his family. Unexpectedly, the stock of his father’s publicly traded company experienced a significant surge at the same time that Psy’s single was gaining traction. For more insights into this phenomenon, check out our article detailing how the family of the Gangnam Style rapper accumulated $30 million.
David Becker/Getty Images
Early Life
Psy, born Park Jae-Sang on December 31, 1977, hails from the Gangnam District in Seoul, South Korea, and originates from a wealthy family. His father, Park Won-Ho, serves as the chairman of DI Corporation, while his mother, Kim Young-Hee, is involved in the restaurant industry. Attending Sehwa High School, Psy was recognized as the class clown and was not particularly fond of academic life. His former classmates recollect that he brought a vibrant and jovial spirit to the classroom. His musical passion was ignited by the iconic band Queen, especially their track “Bohemian Rhapsody.” Initially, Psy intended to study at Boston University but ultimately lost interest in his plans.
By the time he arrived in the U.S. and started his classes, he had completed his studies in business administration. Psy utilized his remaining tuition funds to purchase musical instruments and equipment. He left BU, enrolling at Berklee College of Music but ultimately decided to dropout to head back to South Korea to chase a career in music.
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Early Career
In January 2001, he released his debut album, “PSY… From the Psycho World.” Due to inappropriate content on the album, he faced fines from South Korean government authorities. His follow-up album in 2002 also ignited controversy because of explicit materials. After releasing a third album in 2003 that achieved significant success, Psy entered mandatory military service, which is required for all South Korean men ages 18 to 35. He was granted an exemption from military duty in 2005 due to his work at a software development firm. In 2006, he returned with a fourth album, which received accolades at the 2006 SBS Music Awards. Around this period, state prosecutors accused him of neglecting his job to focus on his music. Consequently, the court decided to redraft him, and he remained on duty until July 2009. Financial struggles hindered his ability to release music. In 2010, he joined YG Entertainment and launched his fifth album. Its lead single, “Right Now,” was banned for audiences under 19. By this time, Psy had made a mark on the domestic music charts multiple times but had not yet reached international fame.
“Gangnam Style”
With the release of his sixth album, “Psy 6 (Six Rules), Part 1,” everything transformed for Psy. The track “Gangnam Style” catapulted into the global music scene, with the video going viral beyond expectations. On August 21, 2012, the song officially reached #1 on the iTunes Music Video Charts, surpassing stars like Justin Bieber and Katy Perry. Since its debut on July 15, 2012, “Gangnam Style” has garnered over 3 billion views on YouTube. The track topped the iTunes sales chart, becoming the most-liked and viewed video in YouTube’s history. Countless parodies of the song have emerged worldwide, including features on “Saturday Night Live,” where Psy made a surprise appearance. The overwhelming success of “Gangnam Style” led to Psy featuring on “The Today Show,” “The Ellen Degeneres Show,” and various other platforms. On November 24, 2012, “Gangnam Style” achieved the milestone of being the most-viewed video in YouTube history. It received acclaim from audiences globally, including political figures such as President Barack Obama and British Prime Minister David Cameron. As of now, the YouTube video boasts 3.5 billion views.
Psy’s Gangnam Style:
Christopher Polk/Getty Images
Life Following “Gangnam Style”
During a speech at the Oxford Union in England in November 2012, Psy shared the motivation behind his hit song. He portrayed life post “Gangnam Style” as a mixture of both a dream and a nightmare, acknowledging the challenge of matching the success of that track with any future releases. Later that same month, he became the second South Korean artist to perform at the MTV Europe Music Awards. Riding the wave of his “Gangnam Style” success, Psy signed with Scooter Braun, Justin Bieber’s manager, and joined Schoolboy Records in 2012. He subsequently released two albums that met with varying reactions and established his own label, P Nation, in 2019. Since its inception, he has signed various artists, including Hyuna and Dawn.
Personal Life
Psy married Yoo Hye Yeon in October 2006, and the pair are parents to twin daughters. In late 2001, he faced legal issues when arrested for marijuana possession, resulting in a fine and a 25-day jail sentence. This unfortunate incident prevented him from attending his grandfather’s funeral or bidding him farewell.
Psy Net Worth (Money & Salary)
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Data is sourced from 2023 and 2024, with forecast data extending to 2025 and 2026. Additionally, our projections expand into 2027 and 2028.
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Post Title: Psy Net Worth (Money & Salary)
Last Updated: February 5, 2025