Drake net worth in 2024: how rich is the rapper?

By:

Prash Raval

Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.

Updated:  Apr 11, 2024

Listen

---

---

0:00 / 08:06

Ad disclosure

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who may pay to be displayed in certain positions on certain pages, or may compensate us for referring users to their services. While our reviews and assessments of each product are independent and unbiased, the order in which brands are presented and the placement of offers may be impacted and some of the links on this page may be affiliate links from which we earn a commission. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >

9 min read

Trade your favourite markets with our top-rated broker, Plus500.

4.5/5

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Visit site

What is Drake’s net worth?

Currently, Drake’s net worth in 2024 is estimated at $250 million. Here are some more personal stats about Drake.

Visit our archives to find more about the net worth of various celebrities and financial professionals.

Who is Drake?

Drake, whose full name is Aubrey Drake Graham, is a Canadian rapper, singer, songwriter, actor, and entrepreneur. Born on October 24, 1986, in Toronto, Canada, he began his career as an actor on the popular television series “Degrassi: The Next Generation.” However, his foray into music propelled him to international fame.

Drake gained recognition with the release of his mixtapes and the critically acclaimed album “So Far Gone” in 2009. His unique blend of rap and R&B, combined with introspective lyrics and melodic hooks, struck a chord with audiences. Since then, he has consistently released successful albums such as “Take Care,” “Views,” and “Scorpion,” earning him numerous awards and record-breaking achievements.

Apart from his music, Drake has also made headlines for his collaborations with various artists and his involvement in the entertainment industry. He has acted in films like “Charlie Bartlett” and “Ice Age: Continental Drift,” showcasing his versatility as a performer. With his charismatic stage presence, infectious hits, and captivating storytelling, Drake has become one of the biggest names in contemporary music.

In terms of his personal life, Drake tends to keep his relationships relatively private. While he has been linked to various celebrities over the years, including Rihanna and Jennifer Lopez, specific details about his current dating status may not be readily available. Drake has one son named Adonis, born in 2017.

How did Drake become rich?

Drake’s wealth results from his successful career in music, business ventures, and strategic partnerships. Here is a breakdown of the key factors contributing to his financial success.

Music Sales and Streaming

Drake’s music sales and streaming royalties have been instrumental in building his wealth. His music has resonated with a wide audience with numerous hit singles and successful albums. Some notable achievements include.

• Album Sales: Drake’s albums have consistently topped charts and sold millions of copies worldwide. Albums like “Take Care,” “Views,” and “Scorpion” have achieved impressive sales figures, contributing significantly to his earnings.
• Streaming Dominance: Drake’s popularity on streaming platforms like Spotify and Apple Music has been a major source of income. He has broken numerous streaming records, including surpassing billions of streams for his songs and albums. Streaming royalties have become a significant revenue stream for artists, and 

Tours and Concerts

Drake’s live performances and concert tours have been highly lucrative, allowing him to amass substantial wealth. His tours consistently sell out, and ticket sales contribute significantly to his earnings. 

Drake has headlined numerous successful tours, including the “Aubrey & The Three Migos Tour” and the “Summer Sixteen Tour.” These tours generate millions in ticket revenue and merchandise sales.

Business Ventures and Partnerships

Drake has ventured into various business endeavours, expanding his revenue streams beyond music. Some notable ventures include:

• OVO Sound Label: Drake founded the OVO Sound record label, which has signed successful artists and released hit albums. The label’s success has generated additional income for Drake through record sales and royalties.
• Partnership with Nike: Drake has collaborated with Nike to release exclusive merchandise and limited-edition sneakers under his OVO brand. These partnerships have proven highly successful, capitalising on the intersection of music, fashion, and streetwear culture.
• Virginia Black Whiskey: Drake is a co-owner of Virginia Black Whiskey, a premium spirits brand. His involvement in the brand’s development and promotion has contributed to its success and added to his financial portfolio.

What companies does Drake own?

Drake isn’t just a music superstar, he’s also a savvy businessman with his fingers in several pies. Here are some of his key ventures:

• OVO Sound: This Canadian record label, co-founded by Drake in 2012, has become a powerhouse in hip hop and R&B, releasing music by Drake himself as well as other talented artists.
• OVO Clothing: Launched in 2011, OVO Clothing is a popular streetwear brand featuring the iconic owl logo. Collaborations with major sports leagues and unique designs have made it a multi-million dollar business.
• Nocta x Nike: This collaboration with sportswear giant Nike blends fashion and functionality. Launched in 2021, the Nocta line features high-performance apparel with a distinct aesthetic.
• DreamCrew Production Company: This company allows Drake to develop and produce his own creative projects, giving him more control over his artistic endeavors.
• Better World Fragrance House: Launched in 2020, this venture offers luxury fragrances under the Better World brand.

In addition to these, Drake has also invested in various startups and holds partial ownership of Italian soccer club A.C. Milan.

Drake net worth growth over the years 

Drake’s annual income and financial position has fluctuated over the years. Here’s a look at how much Drake has been worth over the last five years.

What is Drake’s salary in 2024?

Unfortunately, there isn’t a single, fixed salary for Drake. His income comes from multiple sources, making it difficult to pinpoint an exact figure. However, we can get a good idea of his earning potential:

• Music Streaming: With billions of streams across platforms, Drake earns a significant amount from music streaming services like Spotify and Apple Music.
• Touring: Pre-pandemic tours were a massive source of income for Drake. While touring activity might look different in 2024, it still contributes substantially.
• Merchandise Sales: OVO Clothing and other branded merchandise sales bring in millions annually.
• Endorsements: Drake has had lucrative deals with major brands like Apple, Nike, and Sprite. These endorsements continue to be a source of income.
• Investments: Smart investments in businesses and ventures can generate significant returns for Drake.

Considering all these sources, Drake’s annual income is likely in the tens, if not hundreds, of millions of dollars.

How much does money Drake earn per year?

Drake’s estimated annual income is $70 million. This includes his earnings from music, acting, and endorsements. Drake is one of the highest-paid entertainers in the world.

How does Drake spend his money?

Drake, known for his lavish lifestyle and appreciation for luxury, has made significant purchases and investments over the years. Here are some areas where he has allocated his wealth.

Real Estate

Drake has an affinity for high-end real estate and owns several extravagant properties. Some notable purchases include.

• Toronto Mansion: Drake’s primary residence is a luxurious mansion valued at an estimated $100 million in Toronto, Canada. The property boasts features like a basketball court, a rooftop terrace, multiple bedrooms, and a custom-built OVO logo in the indoor pool.
• Hidden Hills Estate: Besides his Toronto mansion, Drake owns a sprawling estate in Hidden Hills, California. The property spans several acres and features a massive mansion with amenities such as a home theatre, a basketball court, a wine cellar, and an outdoor swimming pool.

Car Collection

Drake has an impressive collection of luxury cars, showcasing his passion for automotive excellence. Some notable vehicles he owns include:

• Bugatti Veyron Sang Noir: Drake owns a rare and highly sought-after Bugatti Veyron Sang Noir, an exclusive hypercar known for its exceptional performance and limited production.
• Rolls-Royce Phantom: Drake has been spotted driving a Rolls-Royce Phantom, an opulent and prestigious luxury sedan.
• Mercedes-Maybach Pullman: Known for its extended wheelbase and spacious interior, the Mercedes-Maybach Pullman is a favourite among celebrities. Drake owns this luxurious limousine, providing him with a stylish and comfortable mode of transportation.

Investments and Jewellery

Drake has diversified his wealth through investments and enjoys wearing extravagant jewellery pieces. Here are some notable examples:

• Private Jet: Drake has invested in a private jet, allowing him to travel in comfort and style. The cost of private jet ownership can range from several million to tens of millions of dollars, depending on the specific aircraft.
• Custom Jewelry: Drake is known for his collection of custom-made jewellery pieces, which often feature intricate designs and rare gemstones. While specific values for his jewellery may not be disclosed, it is widely known that he possesses pieces worth millions of dollars.

Key takeaways about Drake, career highlights

Here are some of the highs and lows of Drake’s career so far.

• 1986: Born in Toronto, Ontario, Canada.
• 2006: Released his debut mixtape, Room for Improvement.
• 2009: Released his debut studio album, Thank Me Later.
• 2011: Released his second studio album, Take Care.
• 2013: Released his third studio album, Nothing Was the Same.
• 2015: Released his fourth studio album, Views.
• 2017: Released his fifth studio album, More Life.
• 2018: Released his sixth studio album, Scorpion.
• 2021: Released his seventh studio album, Certified Lover Boy.

FAQs