Drake’s net worth is estimated to be about $200 million as of 2022. He’s considered one of the richest rappers in the world alongside the likes of Jay-Z, Dr. Dre, and Kanye West. In 2019, Drake was named by Forbes as the world’s 5th richest rapper with an estimated net worth of $150 million.
The actor turned rapper first gained recognition after starring in the teen drama series Degrassi: The Next Generation from 2001-2008. Drake, who began his musical career in 2006 makes his millions from music, endorsement deals as well as business ventures.
So how did Drake start, how did he become the multi-millionaire he is today, and how does he spend his money? Read on to find out.
Aubrey Drake Graham was born on October 24, 1986, in Toronto, Canada. His mother Sandra Graham was an English teacher while his father Dennis Graham was a drummer who performed alongside Jerry Lee Lewis, a country music artist.
Drake’s mother was a Canadian while his father was an American which makes Drake a dual citizen. They divorced when Drake was five.
Drake attended Forest Hill Collegiate Institute, a public high school in the Forest neighborhood of Toronto, Canada. He started acting while in high school and dropped out to pursue his acting career. While in school, he was bullied due to his religious and racial background.
At the age of 15, Drake began his acting career featuring on the Canadian teen drama Degrassi: The Next Generation. At the same time, Drake wanted to pursue a career in music, being inspired by the likes of Jay-Z.
In 2006 he released his first mixtape, Room for Improvement which sold about 6000 copies for which Drake made $300. He went on to release his second mixtape, Comeback Season in 2007, and his third, So Far Gone in 2009.
So Far Gone became quite a success reaching 2000 downloads within its first 2 hours of release. Drake then became a subject of attention with record labels fighting to sign him. He however joined Lil Wayne’s young money in 2009. Drake saw his musical breakthrough after the release of his debut album, Thank Me Later in June 2010 which went on to become the top-selling debut album for any music artist that year.
In 2012 he released his second album, Take Care which sold 2.6 million copies in the US. In the same year, Drake organized a global tour, the Club Paradise Tour, to promote the album. The tour was the most successful hip-hop tour of the year grossing over $42 million.
Today, Drake is one of the most successful music artists having sold more than 170 million records worldwide. He’s the most-streamed artist of all time on Spotify with over 50 billion streams followed by Ed Sheeran.
How does Drake make his millions?
The Toosie slide hitmaker makes his millions from music, endorsement deals, and business ventures, which have all contributed to Drake’s massive net worth.
His 2018 God’s Plan song has over 1.67 billion streams on Spotify and with the platform paying $0.003-$0.005 per stream, Drake made over $5 million from this song alone.
Drake’s Summer Sixteen Tour in 2016 grossed $84.3 million through 56 shows surpassing Jay-Z’s and Kanye West Watch the Throne tour as the highest-grossing Hip Hop tour of all time.
Drake has partnered with several companies in endorsement deals that have also contributed to his huge fortune. Some of these companies include Sprite, Burger King, and Whataburger. Between 2016 and 2017 Drake was reported to have taken home about $94 million in earnings ranking him one of the best-paid celebrities during that time.
In 2015, after the launch of Apple Music, Drake secured an endorsement deal worth $19 million with Apple to promote the platform. The deal saw all future solo releases by the rapper becoming available first on Apple Music before being availed to other streaming platforms. The partnership contributed a large part to the success of the platform helping it reach 10 million subscribers in 6 months.
Drake owns a stake in 100 Thieves, an American lifestyle brand and gaming organization based in L.A. He bought the stake in 2018. In 2020, 100 Thieves had a revenue of about $16 million. His stake in the company is presently valued at about $100 million.
Drake co-founded the production company DreamCrew, alongside Adel “Future” Nur. DreamCrew is an entertainment and management company that has produced the television shows Top Boy (2011) and Euphoria (2019).
According to Forbes, Drake’s net worth was about $150 million in 2019, and was one of the highest-paid celebrities in 2020 taking home an estimated $49 million.
Drake owns a minority stake in Dave’s Hot Chicken, a food chain based in California.
He also owns the OVO (October’s Very Own) brand which houses OVO Sound, a record label Drake founded in 2012. PartyNextDoor, Popcaan, and Roy Woods are some of the artists associated with OVO Sound. Drake’s OVO brand also includes OVO Sound Radio and a line of clothing named OVO Clothing.
Drake also owns the Virginia Black whiskey available in Canada and other countries. The whiskey sold over 4600 bottles in its first week in the market.
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How does Drake spend his millions?
Drake’s net worth is massive and he can have anything he wants from mansions, close to a dozen luxury cars to expensive outfits.
In 2012, Drake bought a 12,500 square feet property in Hidden Hills, California for $7.7 million. The estate is nicknamed the “YOLO Estate”.
In 2019, Drake acquired a Boeing 676 private jet for about $100 million. He then paid an extra $280 million to have the jet customized including having the name Air Drake on it.
Drake has a huge collection of luxury vehicles. His most expensive ride is probably the Bugatti Veyron worth about $2.2 million which he bought in 2010. He also owns a Mercedes-Benz SLR McLaren, a brabus 850, a Rolls-Royce Wraith, a Mercedes Maybach s 600 Pullman, Ferrari McLaren 675lt, a Lamborghini Aventador roadster, a Bentley Mulsanne, devel 16, a Mercedes Maybach 650 landaulet, and a Mansory Rolls Royce phantom.
In 2017, Drake built a mansion in his home city of Toronto, Canada. The mansion, which cost the rapper about $150 million sits on a 50,000-square-foot estate nicknamed “The Embassy”. Drake features the mansion in his song “Toosie Slide” which he released in 2020.
Drake has all sorts of expensive things in his Toronto mansion including a $400,000 hastens Grand Vividus bed. It also features amenities such as an NBA regulation-size indoor basketball court.
Drake also spends some good money on his outfits. According to Unknown Vlogs, which breaks down the costs of people’s outfits, Drake was once seen wearing a custom Brioni jacket that costs $11,000, a Tom ford polo neck worth $2000, Tom Ford Trousers worth $1000 and Crocodile Tom Ford Shoes worth about $15,000.
He also had a custom diamond chain worth about $200,000. Drake also loves watches and has several Rolexes including one that costs $18,000.
Drake is a big fan of parties, in 2013, he walked into Cameo nightclub and threw $50,000 into the air. In 2021, he left about $1 million scattered on the floor of Area 29 Strip club in Houston, a day after performing at the Astroworld festival.
In 2021 Drake rented a $65 million mansion in Beverly Hills, California. He also owns a condominium adjacent to the CN Tower in Toronto.
The Canadian rapper also has a heart for the needy. While shooting his God’s Plan video in 2018, he donated $25,000 to the Miami senior high school. He also donated $10,000 to the school’s music program which serves communities in Miami.
The singer went on to surprise a student at the University of Miami with a $50,000 check for her tuition and paid for about $50,000 worth of groceries for shoppers at Sabre tropical supermarket in Miami.
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Drake has won the Grammy Award 4 times, one in 2013, two in 2017, and one in 2019. He has been nominated for the award 47 times. The rapper also has 29 Billboard Music Awards under his belt. Drake was named the Artist of the Decade at the 2021 Billboard Music Awards.
Complex named Drake the best rapper alive in the years 2011, 2012, and 2015.
The rapper has other numerous achievements including holding the record of the most charted songs of any artist (258) on Billboard.
Between 2009 and 2016 Drake was in an on-and-off relationship with Rihanna. He’s also rumored to have dated Kylie Jenner, Jennifer Lopez, and Serena Williams
Drake has a son called Adonis, who was born on October 11, 2017. The mother of Drake’s son is Sophie Brussaux, a painter and former model from France.
Drake’s favorite basketball team is the Toronto Raptors of the NBA. He’s been the global ambassador of the franchise since 2013.
Adele is a close friend to Drake. In 2021 when she released a new single EasyOnMe, Drake wrote: “One of my best friends in the world just dropped a single” on his Instagram.
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Finally, after learning about Drake’s net worth, I have compiled a few quotes from the rapper which could inspire you.
“Before you give up, think of the reason you held on so long.”
“Careful what you wish for, you just might get it all.”
“When you look ahead and darkness is all you see, faith and determination will pull you through.”
“A goal is just a dream with a deadline.”
“When writing the story of your life, don’t let anyone else hold the pen.”
“I’m always going to work like I have something to prove.”
“It was my father who told me that there is no rapper who is singing and rapping. He told me that in order to be successful you’re going to have to do something different than what everyone else is doing.”
“I’m trying to do better than good enough.”
“Sometimes it’s the journey that teaches you a lot about your destination.”
“I was born to make mistakes, not to fake perfection.”