Drake Net Worth (Money & Salary)

What is Drake’s Net Worth?

Hailing from Canada, Drake is a multifaceted actor, producer, and rapper boasting a net worth of $250 million. He regularly ranks among the highest-earning entertainers globally. Drake’s initial foray into showbiz was through acting in the acclaimed Canadian TV show, “Degrassi: The Next Generation.” Yet, it was through music that he became a global sensation, consistently producing hit after hit since 2006. His first studio album, “Thank Me Later,” ascended to #1 on the hip-hop charts in 2010, marking the beginning of an unyielding career. With relentless touring and numerous appearances on music programs and awards shows, he aimed to expand his fan base.

Since gaining widespread recognition, Drake has accumulated over $430 million throughout his career, excluding taxes and lifestyle expenditures.

During the fiscal year from June 2017 to June 2018, he amassed $45 million. In 2017 alone, his earnings reached $95 million. Following that, from June 2018 to June 2019, he garnered $75 million, and in the next 12 months, he earned $50 million. For a comprehensive yearly breakdown of his earnings, scroll down.

Universal Music Group Contract

In May 2022, during its Q1 earnings call, Universal Music Group announced the renewal of its commitment to Drake through a “long-term worldwide partnership.” This agreement encompasses everything from “recorded music to music publishing, film, television, and brands.” Drake has hinted at this contract in various lyrics, even mentioning a “360 up front” deal. Following Universal’s confirmation, this lyric has been interpreted to imply an upfront payment of $360 million. Other estimates have suggested the contract is worth $400 million or more, especially considering that prior to this deal, Drake’s music catalog had already been yielding $50 million annually for the company.

If the deal is indeed valued at $400 million, once taxes are factored in, Drake would have theoretically received $200 million upfront after taxes.

Early Life

Aubrey Drake Graham was born on October 24, 1986, in Toronto, Canada. His father, Dennis, was a drummer who collaborated with notable musicians such as Jerry Lee Lewis. His mother, Sandra (Sandi), was an English teacher and florist. He attended a Jewish day school and participated in a formal Bar Mitzvah ceremony.

When Aubrey was five, Sandi and Dennis divorced. Dennis subsequently relocated to Memphis, where he faced legal issues and spent several years incarcerated due to drug charges. Aubrey stayed with his mother in Toronto but would see his father every summer in Memphis, provided his father was not in prison. Drake later portrayed Dennis as largely absent during his childhood, a claim which Dennis has fervently disputed, stating it was exaggerated to promote record sales.

From sixth grade onward, Drake and his mother resided in the lower level of a two-story townhome situated in the affluent Forest Hill suburb. His mother occupied the street-level floor, while Drake stayed in the basement. They were not wealthy; in fact, finances were quite limited.

While attending Forest Hill Collegiate Institute, Drake discovered a passion for both acting and singing. He later transferred to Vaughan Road Academy, where he faced bullying due to his biracial heritage and religious background. He temporarily dropped out but ultimately 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 the long-standing teen drama, “Degrassi: The Next Generation.” He portrayed Jimmy Brooks, a basketball player whose life changed dramatically after a shooting incident. Drake was part of the cast from seasons 1 through 7, with additional guest appearances in 2008.

During his tenure on Degrassi, Drake’s mother fell ill and could not work, making his income from the show their sole support for several years. At that time, he was earning $50,000 annually, roughly translating to $2000 per month post-taxes. He later reflected on this challenging period, stating:

“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

Motivated by rap legends like Jay-Z, who secured record deals after achieving success as independent artists, Aubrey—now using his middle name “Drake” as a stage name—began releasing mixtapes in 2006.

In February 2005, he launched his first mixtape, “Room for Improvement,” via his official website and MySpace page, selling over 6,000 copies directly. He followed up with his second mixtape, “Comeback Season,” in the subsequent year, releasing it under his newly established label, October’s Very Own (OVO Records). This mixtape introduced a hit underground single called “Replacement Girl.” The song’s music video marked the first time an unsigned Canadian rapper’s video was showcased on BET. Notably, one version featured a sample from “Man of the Year,” performed by Brisco, Flo Rida, and Lil Wayne.

Jas Prince, founder of Rap-A-Lot Records and based in Houston, discovered the single and forwarded it to Lil Wayne. Impressed, Lil Wayne reached out to Drake and invited him to Houston to join the Tha Carter III tour. Throughout the tour, Drake and Wayne collaborated on various songs, including “Brand New,” “Forever,” and “Ransom.”

Young Money Entertainment

Contrary to popular belief, Drake had not yet signed with Wayne’s record label at that point. He released his third mixtape, “So Far Gone,” in 2009, available for 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 the first hour, it achieved Gold certification from the RIAA and peaked at #2 on the Billboard Hot 100. The mixtape was later transformed into an EP, debuting at #6 on the Billboard 200 and honored with the 2010 Juno Award for Rap Recording of the Year.

As an independent artist, Drake became highly sought after in the music industry. This led to a bidding war, described by some as “the biggest bidding war in music history,” though this remains unverified.

On June 29, 2009, he officially signed a contract with Lil Wayne’s Young Money Entertainment. This record deal was a collaboration between Young Money and its parent company, Cash Money, handled by Universal Music for distribution.

Mainstream Success

On June 15, 2010, Drake launched his debut studio album titled “Thank Me Later.” This album achieved the #1 position in both Canada and the US, topping the Billboard 100, R&B/Hip Hop, and US Rap charts in the US. The RIAA later certified it as Platinum.

In 2011, his second studio album “Take Care” also reached #1 across various charts in multiple countries, achieving a remarkable milestone of 6-times Platinum certification.

Since then, every subsequent album has attained at least 4-times Platinum status.

Recognized as a leading force in hip-hop and the broader music industry, Drake has collaborated with numerous iconic figures, including Kanye West, Eminem, Jay-Z, and Travis Scott. His accolades include countless nominations and over 180 major awards as of this writing, with four Grammys earned from more than 40 nominations.

Drake reportedly earns around $1 million for each concert he performs.

Singles Sold

Drake holds the record for the most digital singles sold by any artist in history, with a staggering total of over 163 million as of this writing. This figure surpasses the second-placed Rihanna by 40 million. In terms of album sales, he ranks as the 80th highest selling musician of all time, with an estimated 26 million albums sold, making him the third best-selling Canadian artist, 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

Although Drake was born in Canada, he made Hidden Hills, California, his home in 2012 after purchasing an extravagant mansion from the previous owner of Los Angeles’ Saddle Ranch Bar for $7.7 million in cash. Dubbed the YOLO Estate, the property boasts multiple residences, including a main house that spans 12,000 square feet and a 2,000 square-foot party house. Additional features include equestrian stables, a 25-person movie theater, a full-sized basketball court, a sand volleyball court, and one of the largest privately owned pools in Southern California. This lagoon-like pool encircles the home and features several waterfalls, a swim-up bar, an 80-foot water slide, and a grotto reminiscent of the Playboy mansion.

In a Rolling Stone interview, Drake revealed that he had long desired this mansion after encountering it in search results for “craziest residential swimming pools.” He even used an image of the pool as his computer background for motivation. Initially listed for $27 million in 2009, the former owner’s financial struggles led to a sale price of $7.7 million by 2012.

In 2015, Drake expanded his property by acquiring the adjacent 1.6-acre estate for $2.8 million. Later, in 2018, he spent $4.5 million on another neighboring property. Today, his estate encompasses a total of 6.7 acres at the end of a cul-de-sac, amounting to $15 million in real estate costs alone.

In March 2022, Drake listed the YOLO Estate for $22.7 million, with an option to purchase the primary mansion for $14.8 million.

In April 2022, NFL star Matthew Stafford bought two of the three estates that comprised the YOLO Estate for $11 million, exceeding the asking price by $3.6 million. However, these two purchases excluded the primary “YOLO” mansion. In July 2022, a buyer acquired the third parcel for $12 million.

For a visual tour, here is a video showcasing the entire 3-estate property:

Toronto Mansion

In 2016, Drake made a $6.7 million investment in a plot of land located in Toronto’s upscale neighborhood known as The Bridle Path. Subsequently, he commissioned the construction of a 50,000-square-foot mansion on the two-acre site. The lavish home features amenities such as a 10-car garage, a regulation-size NBA basketball court, a gym, and an awards room, among others. Notably, the master bedroom encompasses an expansive 3,200 square feet.

Additionally, he owns a condominium situated in downtown Toronto.

$90 Million Beverly Hills Mansion

Reported on March 8, 2022, Drake finalized a deal to purchase British singer Robbie Williams’ sprawling 20-acre Beverly Hills mansion. The price paid by Drake in this off-market transaction was $75 million. Prior to Robbie Williams, the residence belonged to Armand Marciano, co-founder of the Guess? clothing brand. Drake acquired the property through a corporate entity named 11Kip, LLC, financing it with a $52.5 million mortgage from Bank of America, contributing $22.5 million in cash—exactly 30% of the total.

In May 2023, just over a year after acquiring the Beverly Hills property for $75 million, he listed the mansion for sale at $88 million. The listing was renewed in May 2024 at the same asking price. For a tour of Drake’s Beverly Hills estate, here is a video:

300+ Acre Texas Estate

In October 2023, Drake completed the purchase of a 313-acre property, known as Dos Brisas Ranch (formerly The Inn at Dos Brisas), for $15 million. Initially, this estate served as a private compound for a wealthy family before being converted into a resort in 2004. At its height, The Inn at Dos Brisas enjoyed considerable popularity and earned numerous prestigious accolades.

However, like many hospitality ventures, the inn significantly struggled due to the COVID pandemic, leading to its permanent closure in 2022. Initially listed for $17.5 million in April 2022, the price was lowered to $15 million in May 2023. Ultimately, Drake acquired the property in October 2023 for an undisclosed amount exceeding $10 million. Take a look at this video tour:

Air Drake Private Jet

In May 2019, Drake shared a video on Instagram showcasing his newly acquired Boeing 767 private jet, which he has dubbed (and customized) “Air Drake.” The video highlighted Drake’s pride in owning the jet outright, free of any liens.proclaiming ownership with “no rental, no timeshare, no co-owners.” A private jet of comparable model and quality could range between $75 – $100 million in value.

Drake’s Net Worth Milestones

In November 2009, we first included Drake in Celebrity Net Worth with an estimated net worth of $1 million, a few months after he joined Lil Wayne’s Young Money. His net worth exceeded $25 million by 2012, and by 2014, it surpassed $45 million. Late in 2016, his net worth reached over $80 million for the first time. Due to his impressive earnings approaching $100 million in 2017, he easily crossed the $100 million mark by early 2018. In May 2019, Drake’s net worth broke the $150 million threshold for the first time.

Business Ventures

Throughout his career, Drake has endorsed several major brands, notably including Sprite, Burger King, Whataburger, Nike, and Apple. With the launch of Apple Music, he entered into a $19 million exclusivity agreement, making Apple the exclusive initial platform for all his future solo releases.

In 2012, he established his own record label, OVO Sound, which is distributed through Warner Bros. Records. Currently, OVO Sound not only represents Drake but also a variety of artists such as PartyNextDoor, Majid Jordan, and Kash Doll, along with producers like Boi-1da, Future the Prince, and Mike Zombie.

As the “global ambassador” for the Toronto Raptors, he also hosts an annual Drake Night event with the team.

Drake introduced his bourbon-based whiskey brand, Virginia Black, in 2016. Following its launch, the company sold 4,000 bottles within the first week and later shipped an additional 30,000 units that same year.

Tours

Drake’s debut headlining tour was the “Away From Home Tour” in 2010. He continued with five more headlining tours until 2019 and co-headlined four tours as well, including a tour with the rap group Migos in 2018.

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

Every summer, Drake hosts a festival in Toronto known as “OVO Fest,” which sells out rapidly.

He maintains a residency at the XS Nightclub in Las Vegas, earning him at least $500,000 per appearance, and currently makes over $2 million for formal concerts.

Personal Life

Over the years, Drake has been involved in several high-profile relationships, notably dating Rihanna on and off 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, Drake welcomed his son, Adonis, with French model/actress/artist Sophie Brussaux, although he did not confirm his fatherhood until 2018.