Drake, whose full name is Aubrey Drake Graham, has an estimated net worth of $ 150 million, per Celebrity Net Worth. The rapper made Forbes list of top 100 celebrities for 2018 by earning $ 47 million. Drake is also listed as one of Wealthy Gorilla’s 20 richest rappers at number 14.
Drake is not only a successful musician, but he is also an entrepreneur. The rapper started his own record label, OVO Sound, which also has a popular clothing line. Drake’s endorsement deals include Jordan, Apple Music and Sprite. According to GQ, Drake originally had a goal of earning $ 25 million by the time he turned 25.
At the age of 32, Drake created a music empire and is one of the most successful hip-hop artists in the world, while it amply exceeded its original financial goal. Drake explained to GQ in 2013 that his goals are greater than just being a successful rapper.
“Did you know that even if I had $ 250 million at the bank, I couldn’t buy half [referring to Russian billionaire Roman Abramovich]?” Drake commented against GQ. “Rappers are not the really rich. We all have beautiful houses with studios and cars, but you need a piece of someone’s business to be super rich.”
More information about Drake’s capital balance.
Drake Has Endorsement Deals With Jordan Brand, Sprite & Apple Music
Drake’s endorsement deals rival that of a top athlete. After some speculation that Drake could switch to Adidas, the rapper stayed with Nike Jordan Brand, per The Undefeated. The rapper originally announced the collaboration during a concert in Portland in 2013.
“Today is also one of the best days of my life,” said Drake per Rolling Stone. “You know, growing up, I’m sure we’ve all idolized this man – his name is Michael Jordan. So today I went to Portland, Oregon and I officially became a member of the Team Jordan family.”
Drake has had a partnership with Sprite since time immemorial since 2010. The rapper is included in his own commercials for the drink. Drake also has a $ 19 million deal with Apple Music, per Floetry in Portions.
Forbes Calls Drake “The World’s Most Consumed Musician”
The music industry has changed with many music fans who chose to stream music through services such as Spotify, Apple Music and Pandora. This means that record sales are slightly different from music that is accessible online. According to Forbes, Drake had 5 billion streams in one year, making him “the most consumed musician in the world”. Forbes placed Drake number 4 on the list of best-paid hip-hop acts for 2018.
Drake toured at the end of 2018 with the rap group Migos from Atlanta. According to Fader, the tour sold nearly 650,000 tickets and earned $ 79 million. Drake’s 2016 album Views became the first album on Apple Music to darken a billion plays per Forbes.
Drake Is a Global Ambassador for the Toronto Raptors
There has been some confusion about Drake’s role with the Raptors. Although the rapper has no ownership interest in the team, Toronto Drake made their Global Ambassador in 2013. Pitchfork reported that the rapper does not receive a salary from the Raptors. Even if Drake is not paid by the Raptors, the visibility on the right at Toronto playoffs has done nothing but help his brand.
The Raptors announced an extensive partnership with Drake in 2018. In addition to the naming rights mentioned at OVO, the team worked with Drake on everything from theme nights to jersey designs.
“I think the key is always to grow, the key is always to evolve,” Drake commented on NBA.com after the announcement. “It’s nice to have the uniforms and the chic court and the merchandise and such, but what was most important to me was just the call to action. I think it is very easy now to get on social media and get it talk about things that we would like to see or things that we think are wrong, and then there is a possibility when you get one to be able to do something about it.
Drake Purchased a Private Jet Called the “Air Drake”
The rapper now has a private aircraft of which TMZ estimates that the selling price is between $ 185 million and $ 220 million. Drake’s aircraft is a customized 767-300F Boeing model, per TMZ. The jet is part of a collaboration with Cargojet.
“Supporting companies grown domestically has always been a top priority for me, so when an opportunity arose to engage me with a large Canadian company, I was honored to do so,” Drake commented in the press release.
Drake Founded His Own Record Label Called OVO Sound
Drake founded his own record label OVO Sound in 2012 (which stands for October’s Very Own). OVO Sound’s artist includes: Partynextdoor, Majid Jordan, Roy Woods, DVSN, Plaza and Baka Not Nice. The record label has a partnership with Warner Brothers, per Billboard. OVO also has a line of popular clothing. Oliver El-Khatib is one of the OVO Sound partners and discussed the company’s success with the Business of Fashion.
“We have started creating products out of necessity,” El-Khatib told The Business of Fashion. “There were many journeys in different climates, so we needed practical, versatile garments that looked stylish, but were also recognizable for both safety and business meetings.”
OVO has a sponsorship agreement with the Toronto Raptors and the team’s training facility is now called the OVO Athletic Center. The characteristic owl logo from OVO can also be seen on the practical jerseys of the Raptors.
“Drake and OVO are an important part of our city landscape, the identity of our team and our plans to bring a championship to Toronto,” said Raptors President Masai Ujiri, per NBA.com. “At every step of our partnership over the past five and a half years, we have worked together to build a winning basketball program in Toronto and deliver for our fans and our community. This new dealing rights deal for our training facility is a perfect example of the power of this partnership and the innovative possibilities it can generate. “