Drake Net Worth 2024: Inside the World’s Most Famous Rapper’s $760 Million Fortune

Drake, a name synonymous with modern music and entrepreneurship, has not only dominated the rap industry but also built an impressive financial empire.

In 2024, his net worth exceeds $775 million, cementing his status as one of the top entertainers globally.

This article will explore how Drake’s rise to success has transformed him into one of the most influential and wealthiest figures in the entertainment industry.

Drake’s Net Worth 2024: Full Breakdown

The source of Drake’s impressive net worth is hard to track down since he has a very diversified asset portfolio and investments in numerous businesses.

Starting from his music career to his business ventures such as his own brand OVO Sound, Drake is adding millions to his net worth every year. Here is what we could find about the sources of his fortune.

10 Fun Facts About Drake

1. Former TV Star: Before his rap career, Drake was known as an actor on the Canadian teen drama “Degrassi: The Next Generation,” where he played Jimmy Brooks, a basketball star who becomes wheelchair-bound after being shot.
2. Record-Breaking Artist: Drake holds numerous records, including the most charted songs (258) on the Billboard Hot 100 and the most number-one singles (23) on the Hot R&B/Hip-Hop Songs chart.
3. Global Ambassador: In 2013, Drake was appointed as the global ambassador for the Toronto Raptors, his hometown NBA team. He plays a significant role in promoting the team and often sits courtside at their games.
4. Entrepreneurial Ventures: Drake co-founded the record label OVO Sound in 2012 with his long-time producer Noah “40” Shebib. He also has a clothing line, October’s Very Own (OVO), and a whiskey brand called Virginia Black.
5. Award-Winning Musician: Drake has won four Grammy Awards, including Best Rap Album for “Take Care” and Best Rap Song for “God’s Plan.” He has also received 27 Billboard Music Awards, making him the most awarded artist in the show’s history.
6. Generous Philanthropist: Drake is known for his generosity. In his “God’s Plan” music video, he gave away nearly $1 million to families in need, scholarships, and donations to various institutions in Miami.
7. Voice Acting: Besides his acting and music career, Drake has also done voice acting. He provided the voice for Ethan, the young mammoth, in “Ice Age: Continental Drift.”
8. Chart Dominance: Drake’s album “Views” spent 13 non-consecutive weeks at number one on the Billboard 200 chart, and his song “One Dance” was the first song to hit one billion streams on Spotify.
9. Multilingual Heritage: Drake is of mixed heritage, with his mother being Jewish-Canadian and his father African-American. He often references his background in his music and incorporates various cultural influences.
10. Versatile Artist: Drake is known for his versatility, seamlessly blending rap, R&B, dancehall, and pop in his music. This unique style has made him one of the most influential artists of his generation.

Latest Update & News (October 2024)

As of September 2024, Drake’s net worth has exceeded $760 million, thanks to his music, business projects, and several major endorsements. Recent news shows he remains a leader in both entertainment and business. His partnership with the cryptocurrency gambling site Stake keeps bringing in profits, making him $100 million each year.

Additionally, his real estate portfolio has expanded with a new $15 million ranch in Texas, pushing his real estate assets to even higher valuations. Drake’s latest album, For All The Dogs, also continues to perform well across streaming platforms, contributing significantly to his wealth​.

In terms of personal life, while Drake’s highly publicized feud with Kendrick Lamar continues to make headlines, the rapper seems to be thriving off the controversy, gaining millions of streams and media attention​

Controversies

Drake has seen a few controversies in 2024, with his ongoing feud with Kendrick Lamar taking center stage. The pair have traded diss tracks, which, although generating widespread attention and streams, has led to a polarized response from fans. Both artists have benefitted financially from the beef, but the drama has added a layer of tension to Drake’s public image​

Additionally, despite his business successes, Stake, the crypto-gambling site, continues to draw scrutiny, with questions about its ethical implications, particularly as the partnership brings in hundreds of millions​

The Early Life of the World’s Most Popular Rapper

Drake’s full name is Aubrey Drake Graham.

He was born on October 24, 1986, in Toronto, Canada to father Dennis, a drummer, and mother Sandra who worked as a florist and English teacher. When Drake was five years old, his parents divorced and he lived with his mother while his father moved to Memphis. Eventually, Dennis Graham was arrested and incarcerated on drug charges, so he was mostly absent during Drake’s childhood.

Since Drake was in sixth grade, he and his mother lived in the bottom half of a two-story home in Forest Hill. Even though he is one of the richest rappers today, his childhood was far from easy. The small family of two struggled to make ends meet and lived in poverty for many years before Drake’s career became successful.

Drake attended a Jewish day school, followed by his time at Forest Hill Collegiate Institute and Vaughan Road Academy. Even though he dropped out of the academy, he eventually got his degree in 2012.

Despite all the financial limitations, the young Aubrey Drake Graham was passionate about acting and singing from a very early age. In 2001, he became an actor at the young age of 14, landing his first role in a famous Canadian teenage drama called Degrassi: The Next Generation.

As for his personal life, Drake has had several high-profile relationships over the years, the most notable being his relationship with star musician Rihanna between 2009 and 2016. In October 2017, Drake had a child with a French model called Sophie Brussaux, but he has never married.

Drake Net Worth: From an Unsigned Canadian Rapper to a Multimillion-Dollar Net Worth

Drake began his career as an actor, but it was music that made him one of the most popular entertainers worldwide. Let’s review his impressive story to learn how Drake’s net worth reached over half-a-billion-dollar fortune.

Drake’s Acting Career

At the age of 14, Drake was recommended by an acting agent, a friend of his father, and attracted the attention of the directors of Degrassi: The Next Generation, a popular Canadian show. Known for his birth name at the point, young Aubrey Graham appeared in seven seasons of the show, reportedly making $40,000 a year.

He said of this period in his life:

My mother was very sick. We were very poor, like broke. The only money I had coming in was off of Canadian TV

While his main focus over the years has been on his music career, Drake has consistently appeared on the big screen, taking big and small roles.

Here are some of his many appearances in movies over the years:

• Degrassi: The Next Generation (2001 to 2008) as James “Jimmy” Brooks in 100+ episodes
• Blue Murder: Out of Towners: Part 1 (2001) as Joey Tamarin
• Conviction (2002) as Teen Fish
• Instant Star: Personality Crisis (2005) as himself
• Charlie Bartlett (2007) as A/V Jones
• Mookie’s Law (2008) as Chet Walters
• Beyond the Break: One Elle of a Party (2009) as himself
• When I was 17: Drake, Jennie Finch & Queen Latifah (2010) as himself
• Breakaway (2011) as himself
• Ice Age: Continental Drift (2012) voiceover as Ethan
• Anchorman 2: The Legend Continues (2013) as Cameo
• Think Like a Man Too (2014) as himself

In addition to his roles as an actor, Drake also worked as a movie producer on several projects through his DreamCrew production company, including:

• The Carter Effect (2017)
• Remember Me, Toronto (2019)
• Euphoria (2019)
• Chilling Island (2021 – 2022)
• Black Ice (2022)
• French Montana’s For Khadija (2023)

Finally, Drake has appeared on several TV programs and shows, including the 2011 Juno Awards as the host, as well as on Saturday Night Live (2011, 2014, and 2016), and Punk’d (2012).

Drake’s Success in the Music Industry

During only a few years in the music industry, Drake has managed to create an empire. He started by releasing mixtapes for a few years, but eventually caught the attention of Young Money Entertainment, which marked his path toward becoming one of the richest rappers worldwide.

Early Beginnings

While still acting in Degrassi, Drake was working on his mixtapes. Inspired by rappers like Jay-Z who started as independent artists, Drake gave himself his stage name and released mixtapes in 2006.

In February 2006, he released the first mixtape titled Room for Improvement via his official MySpace page – and sold 6,000 copies as a result. His second mixtape followed in 2007, titled Comeback Season. He released this mixtape after launching his own label October’s Very Own or OVO Records, one that would become his most profitable business in the future.

His second mixtape was a much bigger success thanks to his hit single Replacement Girl. The video for this song was the first video from an unsigned Canadian rapper to be featured on BET.

One version of Replacement Girl featured a sample of Flo Rida and Lil Wayne’s Man of the Year hit, so when Jas Prince, a Houston-based producer who founded Rap-A-Lot Records noticed it, he passed it on to Lil Wayne himself.

This was when things started going really well for Drake. Lil Wayne invited the young star to join him on the Carter III tour, and Drake collaborated with the established rapper on several songs including Ransom, Forever, and Brand New.

In 2009, Drake released a third mixtape titled So Far Gone. The hit single Best I Ever Had reached number 2 on Billboard’s Hot 100 singles chart. He also collaborated with Trey Songz and Wayne on Successful, and this hit made Rolling Stone’s 25 Best Songs of 2009 list. He released this mixtape on his OVO website as a free download, and it featured appearances from Omarian, Bun B, Lloyd, Lil Wayne, and other artists.

The mixtape ended up garnering 2000 downloads in a single hour and was certified Gold by the RIAA. Consequently, the EP debuted at number 6 on the Billboard 200, and the mixtape won the 2010 Juno Award for Rap Recording of the Year.

Record Deal with Young Money Entertainment

After his tremendous success with So Far Gone Drake was in high demand in the industry. Production companies started a bidding war, but on June 29, 2009, Drake decided to sign a contract with Lil Wayne’s Young Money Entertainment company. This record deal was a collaboration between Young Money and Cash Money, its parent company, while Universal Music handled the distribution.

Albums and Album Sales

The record deal was fruitful from the beginning. Drake’s debut album Thank Me Later was an immediate hit in Canada and the US, hitting number 1 in the charts in 2010 and topping both the R&B/Hip Hop and Rap and Billboard 200 charts.

The debut studio album sold over 447,000 copies in the first week after its release. Eventually, his first album was certified platinum by the RIAA.

In 2011, Drake released his second album called Take Care. This album went platinum six times and hit number 1 on several charts since its release.

In fact, every album Drake has ever released has been at least four-times platinum, making him one of the most successful rappers in the music industry.

Since the release of his first and best rap album, Drake has headlined 10 tours and co-headlined four tours. He’s broken all kinds of records. For instance, his Migos tour earned $80 million in 2018, and his Summer Sixteen Tour grossed over $84 million in 2016.

In 2021, Drake became the first artist to gain over 50 billion streams. In 2022, he sold over 170 million records globally. He is also the third highest-selling musician in Canada behind Shania Twain and Celine Dion. Over the years, he has worked with everyone from Kanye West to Jay-Z to Nicki Minaj, Eminem, and Travis Scott.

Here is a complete list of all albums to date and the most notable tracks in them:

• Thank Me Later (2010): Over, Miss Me ft. Lil Wayne, and Find Your Love
• Take Care (2011): Take Care ft. Rihanna, The Motto ft. Lil Wayne, and Headlines
• Nothing Was the Same (2013): Hold On, We’re Going Home and Worst Behavior
• Views (2016): One Dance ft. Wizkid & Kyla and Hotline Bling
• Scorpion (2018): In My Feelings, Nonstop, and God’s Plan
• Certified Lover Boy (2011): Way 2 Sexy ft. Future & Young Thug, Fair Trade ft. Travis Scott, and Girls Want Girls ft. Lil Baby
• Honestly, Nevermind (2022): Jimmy Cooks and Calling My Name
• For All The Dogs (2024)

Latest Update: Drake’s latest album continues to dominate the charts and drive millions of streams on platforms like Spotify and Apple Music, further solidifying his position as one of the top-earning artists globally

Singles

To date, Drake has sold more digital singles than any other artist in history – over 163 million digital singles so far. In comparison, Rihanna holds the second spot with approximately 120 million singles sold.

Drake’s most notable singles outside of his albums are:

• 0 to 100/ The Catch Up
• Back to Back
• Summer Sixteen
• 2 Birds, 1 Stone
• Diplomatic Immunity
• I Got a Lot of Love for Her ft. Nicki Minaj

Earnings from Concerts and Streaming

Album sales add millions to Drake’s net worth, but this is not his only source of income from the music industry. Aside from albums and singles, Drake has been earning millions through streaming and concerts — his songs frequently top streaming charts. Tracks like God’s Plan and One Dance, for instance, counted billions of streams on Spotify and Apple Music.

Drake’s successful career also translated into highly paid concert tours. His first headline tour took place in 2010 and was called Away from Home Tour. His 2016 Summer Sixteen Tour was the highest-grossing tour in the hip-hop industry of all time with $84.3 million in 54 shows.

In 2018, his Aubrey & the Three Migos Tour grossed over $79 million, and his 2019 Assassination Vacation Tour grossed over $155 million. He has shown an amazing ability to fill arenas with high-priced tickets.

In July 2023, over two nights in a row, his performances at One Arena added $5 million to Drake’s net worth. According to Touring Data, this is the highest-grossing concert in history, and Drake is the first rapper to earn this sum in a single arena concert.

.@Drake becomes the first rapper to earn over $5 million in a single arena-concert in US history, with $5.032 million each night at Capital One Arena in Washington on July 28-29.

— Touring Data (@touringdata) August 1, 2023

Drake also puts on an annual festival during the summers in Toronto called OVO Fest. Every year, the festival sells out at high prices and almost instantly.

On top of this, Drake has an ongoing performance at the XS Nightclub in Las Vegas and reportedly charges $500,000 for a single performance. For more formal concerts, he charges over $2 million.

Contract with Universal Music Group

In May 2022, Universal Music Group confirmed that it had re-signed Drake for just about everything: “recorded music to music publishing, film, television, and brands”. If you listen to one of his rap songs, Lemon Pepper Freestyle, he raps “360 up front”, indicating that he got $360 million upfront from the contract.

If we reduce the taxes from this, provided that he was paid upfront, this would add over $200 million to Drake’s net worth.

Awards and Accomplishments

Having such a successful career has made Drake one of the richest rappers in the world – but it has also brought him many prestigious awards over the years. Some of the biggest awards he’s won over the years are:

• Grammy Award for Best Rap Album in 2013
• American Music Award for Favorite Rap/Hip-Hop Artist in 2016
• American Music Award for Favorite Soul/ R&B Song for Work ft. Rihanna in 2016
• American Music Award for Favorite Rap/Hip-Hop Song for Hotline Bling in 2016
• Billboard Music Awards for Top Artist in 2017, 2019, and 2022
• Grammy Award for Best Rap Song in 2017
• Grammy Award for Best Melodic Rap Performance in 2017
• Grammy Award for Best Rap Song in 2019
• BET Awards for Best Male Hip-Hop Artist in 2010 and 2012
• American Music Award for Favorite Rap/Hip-Hop Male Artist in 2021
• All Africa Music Awards for Best Global Act in 2021
• Billboard Music Awards for Artist of the Decade in 2021

Drake’s Earnings from Endorsement Deals

Drake’s net worth is millions of dollars richer thanks to his endorsement deals with companies like Nike, Apple, Burger King, Sprite, and Whataburger.

His first major endorsement deal was a $19 million exclusivity deal with Apple Music in 2015, right after the program’s launch. Apple Music became the exclusive host of all solo releases of the artist – and for quite a lucrative sum, too.

Although the details of the deal are not publicly disclosed, Drake has had a partnership with Nike since 2013. During this partnership, he has launched several Air Jordan collaborations and came up with Air Jordan OVOs.

He also created a sublabel with Nike called Nocta and came up with the Winter Survival and Weekender collections in collaboration with Nike.

As a Toronto native, Drake also signed a contract to become the global ambassador of the Toronto Raptors, a team in the NBA. As the global ambassador, he has hosted the annual Drake Night with the Raptors since the contract in 2013.

Another famous collaboration of the rapper is the OVO x BAPE, where he created a line of scented candles called the Better World Fragrance. Also, in 2022, he collaborated with Mike Tyson to launch special edition silhouette branded jerseys through his OVO brand.

Finally, Drake signed a $100 million-a-year endorsement deal with Stake, a popular underground crypto gambling site in 2022. He still has the contract with the brand, meaning that he has earned $200 million from this partnership so far.

Drake vs. Kendrick Lamar Beef

In the early careers of Drake and East Coast rapper Kendrick Lamar, the pair featured on songs and Kendrick opened Drake’s Club Paradise tour in 2012 along with A$AP Rocky. Relations between the pair began to sour with disses and taunts being released in the mid-2010s.

Fast forward to October 2023, and the beef began to blow up with Drake claiming to be one of the best three rappers, with Kendrick not being referenced. March 2024 saw Kendrick diss Drake in an appearance on Future and Metro Boomin’s “Like That”. What ensued was a flurry of songs released by the pair, with mere hours between the songs dropping on streaming services.

It has been widely accepted that Kendrick Lamar won this stage of the beef between the pair. Both rappers were able to cash in with millions of streams across the songs released and masses of free media. How the accusations of secret children and sexual abuse will affect Drake’s career and net worth going forward is yet to be determined.

You can listen to the complete history of the musical beef between the pain on this playlist:

What Does Drake Invest In?

Most of Drake’s net worth is sourced from his music career and endorsement deals such as the one with Apple Music, but he also earns millions from businesses – and has a rich portfolio of assets including real estate, cars, and watches.

Businesses and Investments

Drake has invested a lot in businesses and founded/co-founded several profitable ventures over the years. Here are his most notable business investments so far.

OVO Sound

The most profitable business to date for Drake is the record label OVO Sound. Drake formed his own record label in 2012 and today, it represents partners like Majid Jordan, PartyNextDoor, Kash Doll, and more. The record label is distributed by Warner Bros. Records.

The OVO empire extends its reach beyond music, though. It has everything from merchandise to collaborations, including Drake’s own fashion brand called OVO, which brought in $50 million in revenue in 2018, according to Variety.

Virginia Black

In addition to OVO, Drake also owns a bourbon-based whiskey brand called Virginia Black which he bought in 2016. In the first year since its launch, Virginia Black sold 4,000 bottles.

Dream Crew

The following year, Drake co-founded a production company with Adel Future Nur, called DreamCrew. This particular brand stands behind Top Boy and Euphoria, among other productions.

Stake in 100 Thieves

In 2018, the rapper bought ownership stakes in 100 Thieves, a gaming and media organization. He is the co-founder and co-owner of this business even today.

Real Estate Assets

Drake’s real estate collection is worth millions. It combines luxury properties spread across the map.

YOLO Estate

For many years, Drake resided in Hidden Hills, California. In 2012, he bought a mansion from the Los Angeles Saddle Ranch Bar’s former owner. He called this property the YOLO Estate and he chose it while searching for the “craziest residential swimming pools” on Google.

While the former owner listed the house for $27 million in 2009, Drake got an amazing deal in 2012 and bought it for $7.7 million.

However, his journey with the YOLO Estate didn’t end there. In 2015, he decided to expand it by acquiring the neighboring estate for $2.8 million, followed by his purchase of another neighboring house for $4.5 million. Today, this estate sprawls across 6.7 acres and is worth over $22 million.

However, while Drake listed it in 2022 for $22.7 million, he sold it in pieces. Matthew Stafford, the NFL star, for instance, bought two pieces of the estate for $11 million, while an unknown buyer bought the remaining piece in 2022 for $12 million.

Toronto Mansion

Back in 2016, Drake paid $6.7 million to buy a parcel in the suburban Toronto region called The Birdle Path. He proceeded to construct an opulent mansion that spanned 50,000 square feet on the property. Since we don’t know how much exactly he invested into the luxurious mansion, we cannot estimate the current worth of this property, but it is definitely over $10 million.

In addition to the suburban Toronto mansion, Drake also owns a condominium in downtown Toronto for an unknown value.

Beverly Hills Mansion

Even though he is currently selling this property, Drake bought a $75 million mansion in Beverly Hills from Robbie Williams in 2022. A little over a year later, he listed it for $88 million.

Latest Update: In 2024, Drake added a $15 million Texas ranch to his extensive real estate portfolio. This acquisition has further increased the value of his properties, which include his Beverly Hills mansion, Toronto mansion, and the YOLO Estate. The new Texas ranch is expected to appreciate in value as Drake continues to invest in high-profile properties across North America.

Drake’s Private Jet

The renowned rapper decided to make another lavish purchase in May 2019 when he bought his private jet called Air Drake. Air Drake is a Boeing 767 private jet worth between $185 million and $220 million.

Air Drake boasts a lavish interior with gold and chrome fixtures and the exterior features the OVO logo, presenting Drake’s record label and brand.

Car Collection

Drake’s car collection is worth millions, too, and he expands his asset portfolio by adding new cars to his garage almost every year. Here are some of the vehicles he has owned so far:

• 2010 Mercedes-Benz SLR McLaren: $400,000 – $500,000
• 2015 Brabus 850: $200,000 – $300,000
• 2010 Bugatti Veyron – Sang Noir Edition: $2 million – $2.5 million
• 2010 Bentley Continental Supersports Convertible: $80,000 – $120,000
• 2015 Rolls-Royce Wraith: $150,000 – $200,000
• 2016 Ferrari LaFerrari: $2.5 million – $3 million
• 2016 McLaren 675LT: $200,000 – $250,000
• 2016 Lamborghini Aventador LP-700-4 Roadster: $350,000 – $400,000
• 2017 Bentley Mulsanne: $200,000 – $250,000
• 2018 Devel Sixteen: $1.5 million – $2 million
• 2015 Mercedes-Maybach S600 Pullman: $300,000 – $400,000
• 2019 Mercedes-Maybach G650 Landaulet: $1 million – $1.5 million
• 2020 Mansory Rolls-Royce Phantom: $500,000 – $700,000

Drake’s Watches and Jewelry

Drake’s net worth includes an impressive collection of luxurious watches. Over the years, he has been seen wearing high-end watches from Rolex, Patek Philippe, Richard Mille, and Audemars Piguet, to mention a few. Here are just a few of the watches in his collection:

• Patek Philippe Nautilus customized watch by Virgil Abloh is valued in the seven-figure range
• Nautilus Iced Out 5719/10G-010 is worth over $800,000
• Rolex Sky-Dweller Iced Out 326959TBR is worth about $1.5 million
• Richard Mille 69 Tourbillon Erotic is worth approximately $790,000

In addition to his luxury watches, Drake also owns millions in jewelry. Among his jewelry collection is the $2 million diamond necklace from Frank Ocean’s Homer with 127.5 carats. The famous ‘wedding ring necklace’ comprises 42 engagement rings and 351.38 carats of diamonds, and is worth over $12.5 million today.

What Can We Learn From Drake’s Story?

Drake is one of the most famous people on the planet, let alone rappers, and his influence on the music industry surpasses a vast majority of his peers.

The hip hop/rap artist has been number one on most prestigious lists, demonstrating that talent can take you places, even if your beginnings are hard. The hip-hop artist’s story is a rags-to-riches one, showing us that with work, talent, and courage, you can make anything happen.

Drake’s net worth of over $760 million is proof that you don’t have to be born into wealth to become a major success.

Drake’s career is at its peak today, but it continues to evolve. His legacy will without a doubt leave a lasting mark on the industry and the popular culture. Since his studio albums and the highly successful singles, Drake has solidified his place as one of the best artists of his generation.

His story teaches us another important lesson – to diversify our assets. While most of Drake’s net worth comes from his music career, he also earns a fortune through business ventures and investments, including his own record label and brand OVO Sound.