Drake Net Worth (Money & Salary)

Drake’s Net Worth: What Is It?

Having a net worth of $250 million, Drake is a Canadian actor, producer, and rapper. He ranks among the highest-paid entertainers globally on a consistent basis. His journey began as an actor on the popular Canadian show, “Degrassi: The Next Generation.” However, it was through music that he gained worldwide fame, as he has been producing hit after hit since 2006. His first album, “Thank Me Later,” debuted at the top of the hip-hop charts in 2010, marking the beginning of an impressive career. Drake has continuously toured, made numerous appearances on music shows and award ceremonies, and has concentrated on expanding his fanbase.

Since achieving mainstream recognition, Drake has accumulated over $430 million throughout his career, not accounting for taxes and lifestyle expenses.

Drake’s earnings for the year spanning June 2017 to June 2018 totaled $45 million. In 2017 alone, he garnered $95 million. Between June 2018 and June 2019, he earned $75 million, followed by $50 million in the next 12 months. For a comprehensive annual earnings breakdown of Drake, scroll down.

Contract with Universal Music Group

During the Q1 earnings call in May 2022, Universal Music Group announced that they had re-signed Drake for a “long-term worldwide partnership.” The contract covers areas such as “recorded music to music publishing, film, television, and brands.” Drake has referenced this deal in his lyrics, notably mentioning a deal with “360 up front.” Following Universal’s announcement, some have interpreted this to mean he received $360 million upfront. Other estimates place the deal’s value at $400 million or more. Before this agreement, Drake’s music catalog was already producing $50 million in yearly revenue for the company.

If the deal’s value was indeed $400 million, after taxes, Drake would theoretically have netted $200 million upfront.

Drake’s Early Life

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

When Aubrey was five, his parents divorced. His father moved to Memphis, where he was later arrested and incarcerated for several years due to drug-related charges. Aubrey stayed with his mother in Toronto, visiting his father in Memphis every summer when Dennis was not in prison. Drake has characterized his father as largely absent during his childhood, a portrayal that Dennis has vehemently disputed, asserting such claims are exaggerated for commercial purposes.

From the sixth grade onward, Drake and his mother resided in the lower half of a two-story townhome in the upscale neighborhood of Forest Hill. While his mother occupied the street-level floor, Drake lived in the basement. They struggled financially and were not well-off at all.

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

His Journey on Degrassi

At 15, a childhood friend’s father, who was an acting agent, helped Drake secure a role on the long-running Canadian teen drama “Degrassi: The Next Generation.” He portrayed Jimmy Brooks, a basketball star who…disabled after being shot by a classmate. A cast member for seasons 1 through 7, he also made guest appearances in 2008.

During Drake’s time on Degrassi, his mother’s health deteriorated, preventing her from working. Their only source of income for several years came from his Degrassi paychecks. At that time, he earned a salary of $50,000 per year from the show, which amounted to about $2000 per month 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, he launched his first mixtape, “Room for Improvement,” through his official website and MySpace page, selling over 6,000 copies directly. The next year, he put out his second mixtape, “Comeback Season,” released under his newly established label, October’s Very Own (also known as OVO Records). This mixtape included a hit underground single titled “Replacement Girl.” Notably, the song’s music video became the first by an unsigned Canadian rapper to be featured on BET. A version of the track included a spliced sample from “Man of the Year” by Brisco, Flo Rida, and Lil Wayne.

Jas Prince, the Houston-based producer and founder of Rap-A-Lot Records, discovered the single and passed it on to Lil Wayne. Impressed, Lil Wayne contacted Drake and invited him to Houston to join his Tha Carter III tour. As they toured, Drake and Wayne collaborated on multiple tracks, such as “Brand New,” “Forever,” and “Ransom.”

Young Money Entertainment

Contrary to popular belief, at this stage, Drake had not yet signed with Wayne’s record label. In 2009, he dropped his third mixtape, “So Far Gone,” which he offered as a free download on his OVO website. This mixtape featured collaborations with Lil Wayne, Lloyd, Trey Songz, Omarion, and Bun B. After being downloaded 2000 times within its first hour, the mixtape was later certified Gold by the RIAA, reaching #2 on the Billboard Hot 100. Subsequently, it was released as an EP, debuting at #6 on the Billboard 200 and winning the Juno Award for Rap Recording of the Year in 2010.

As an independent artist, Drake was now highly sought after in the music industry. This led to a bidding war among various labels eager to sign him, described as “the biggest bidding war in music history,” though unverified.

On June 29, 2009, Drake inked a deal with Lil Wayne’s Young Money Entertainment. This record agreement turned out to be a joint venture between Young Money and its parent company, Cash Money, with Universal Music overseeing distribution.

Mainstream Success

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

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

His follow-up studio album, “Take Care,” released in 2011, also secured #1 rankings in various countries across several charts, eventually earning 6-times Platinum status.

Since then, all his albums have attained a minimum of 4-times Platinum certification.

Recognized as one of the most influential and successful figures within hip-hop and the broader music industry, Drake has collaborated with numerous major stars like Kanye West, Eminem, Jay-Z, and Travis Scott. With countless award nominations, as of now, he has won over 180 major accolades, which include four Grammy Awards from more than 40 nominations.

Drake earns about $1 million for each concert performance.

Singles Sold

Drake has set the record for selling more digital singles than any other artist in history. As of now, he has sold over 163 million digital singles, surpassing the second place, Rihanna, by 40 million. In lifetime album sales, he ranks as the 80th highest-selling musician of all time, with approximately 26 million albums sold. This positions him as the third best-selling Canadian musician in history, following 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

Drake, although born in Canada, began referring to Hidden Hills, California, as his home in 2012 after purchasing an extravagant mansion from the former owner of Los Angeles’ Saddle Ranch Bar, paying $7.7 million in cash. Known as the YOLO Estate, this property includes several residences, one being a 12,000-square-foot main house along with a 2,000-square-foot party house. The estate also boasts equestrian stables, a movie theater accommodating 25 people, a full-sized basketball court, a sand volleyball court, and one of the largest private swimming pools in Southern California. His lagoon-style pool, which encircles the house, features multiple waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy mansion.

During a Rolling Stone interview, Drake shared how he had been interested in this mansion for years after discovering it while searching “craziest residential swimming pools” online; it appeared in the search results. He even used a picture of the pool as his computer’s background for years to stay motivated. Initially listed in 2009 for $27 million, the former owner faced financial difficulties by 2012, which allowed Drake to purchase it for $7.7 million.

In 2015, he expanded his property by acquiring an adjacent 1.6-acre estate for $2.8 million. In 2018, he continued to enhance the property…

He spent $4.5 million again to acquire yet another neighboring house, expanding his private estate to encompass 6.7 acres of contiguous property at a cul-de-sac’s end, which represents $15 million in real estate acquisitions alone.

In March 2022, Drake listed the YOLO Estate for $22.7 million, offering buyers the option of purchasing the primary mansion separately for $14.8 million.

In April 2022, NFL star Matthew Stafford paid $11 million for two of the three estates that previously comprised the YOLO Estate, which was $3.6 million above the asking price. However, his purchases did not include the main “YOLO” mansion. By July 2022, a buyer acquired the third parcel for $12 million.

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

Toronto Mansion

In 2016, a land plot in suburban Toronto, specifically in The Bridle Path, was acquired by Drake for $6.7 million. He then built a mansion measuring 50,000 square feet on this two-acre land, which includes a gym, an awards room, a regulation-size NBA basketball court, a 10-car garage, and more. The master bedroom alone is 3,200 square feet.

Additionally, he owns a condo located in downtown Toronto.

$90 Million Beverly Hills Mansion

On March 8, 2022, reports surfaced stating that Drake finalized a deal to purchase British singer Robbie Williams’ Beverly Hills mansion, which spans 20 acres, for $75 million in an off-market transaction. Before Robbie Williams, the home belonged to Armand Marciano, co-founder of the Guess? clothing brand. The acquisition was done through a corporate entity named 11Kip, LLC, with Drake securing a $52.5 million mortgage from Bank of America, resulting in a $22.5 million cash down payment, which is exactly 30% of the total cost.

A little over a year later, in May 2023, Drake listed the Beverly Hills property for $88 million, repeating the listing at the same price in May 2024. Here’s a video tour of Drake’s mansion in Beverly Hills:

300+ Acre Texas Estate

In October 2023, Drake acquired a 313-acre property, formerly a resort known as The Inn at Dos Brisas, for $15 million. Initially, in the early 2000s, the estate served as a private compound for a wealthy family, which transformed it into a resort in 2004. At its peak, The Inn at Dos Brisas gained notable recognition and popularity.

Like many hospitality ventures, The Inn faced severe challenges due to COVID and permanently closed in 2022. The estate was listed for sale in April 2022 at $17.5 million before its price was reduced to $15 million in May 2023. Drake purchased the property in October 2023 for an undisclosed sum exceeding $10 million. Check out the video tour:

Air Drake Private Jet

In May 2019, Drake shared a video on Instagram unveiling his newly-acquired Boeing 767 private jet, which he has named (and painted) “Air Drake.” The video highlights Drake’s pride in owning the jet outright, stating that he has “no rental, no timeshare, no co-owners.”

A private jet of comparable model and quality would range in value from $75 to $100 million.

Milestones of Drake’s Net Worth

Drake first appeared on Celebrity Net Worth in November 2009, with an initial net worth estimate of $1 million, shortly after joining Lil Wayne’s Young Money. By 2012, he had surpassed $25 million in net worth, and by 2014, that figure surged past $45 million. Late 2016 saw him break the $80 million mark for the first time. With impressive earnings close to $100 million in 2017, he achieved a net worth exceeding $100 million by early 2018. In May 2019, he reached a net worth of over $150 million for the first time.

Business Endeavors

Throughout his career, Drake has collaborated with several major brands including Sprite, Burger King, Whataburger, Nike, and Apple. Upon the launch of Apple Music, he signed a $19 million exclusivity agreement which designated Apple as the sole initial outlet for all of Drake’s subsequent solo releases.

Drake established his own record label, OVO Sound, in 2012, which operates under Warner Bros. Records. Alongside Drake, the label also represents artists such as PartyNextDoor, Majid Jordan, and Kash Doll, as well as producers including Boi-1da, Future the Prince, Mike Zombie, among others.

He serves as the “global ambassador” for the Toronto Raptors and organizes an annual event called Drake Night in collaboration with the team.

In 2016, he introduced Virginia Black, a brand of bourbon-based whiskey. The product sold 4,000 bottles within its first week, followed by an additional shipment of 30,000 units later that year.

Concert Tours

Drake’s inaugural headline tour was the “Away From Home Tour” in 2010. He has since conducted five more headlining tours by 2019 and co-headlined four tours, one of which was in 2018 with the rap group Migos.

His 2016 “Summer Sixteen Tour” emerged as the highest-grossing hip-hop tour at the time, generating $84.3 million across 54 shows, averaging $1.56 million per concert. The Migos co-headlining tour broke this record in 2018 with earnings of $80 million over 43 dates, averaging $1.86 million per concert.

Drake also hosts an annual festival in Toronto known as “OVO Fest,” which sells out immediately every summer.

He maintains a residency at the XS Nightclub in Las Vegas, earning approximately $500,000 per performance, and now makes over $2 million for more formal concerts.

Personal Relationships

Throughout the years, Drake has been involved in several high-profile relationships, including an on-and-off romance with Rihanna from 2009 to 2016. He later referred to her 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, although Drake did not confirm his fatherhood until 2018.