Drake’s Net Worth: How The Famous Rapper Makes Millions Every Year

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Net Worth: $250 Million

Profession: Actor, Songwriter, Voice Actor

The Canadian-born Drake’s net worth has topped $250 million dollars with the rapper earning an estimated $430 million over the course of his career before taxes, agent fees, and other expenses.

While Drake still has a long way to go before he catches up to Jay-Z’s net worth of $2.5 billion or Kanye West’s net worth of $500 million, he’s well on his way as his annual salary surpasses $70 million, and his tours continue to grow in revenue while setting all-time earnings records for a rapper.

Let’s dive into Drake’s net worth by examining some of his biggest earning opportunities so far.

Drake’s Net Worth Will Skyrocket Under New Universal Music Group Contract

Universal Music Group announced during a Q1, 2022 earnings call that the company had re-signed Drake to a long-term deal. According to the company, the deal includes rights to Drake’s recorded music, film work, television and brand deals.

While Universal Music Group has not publicly stated Drake’s earnings, estimates have put the deal at around $400 million.

One clue Drake fans have claimed speaks to his deal is the lyric “360 up front,” which they believe is a direct result of one of the world’s richest rappers speaking to receiving $360 million upfront.

The deal makes a lot of sense for a company generating $50 million per year just from Drake’s catalog alone.

Drake’s Streaming Revenue Is Massive

Drake was the first artist in history to reach 75 billion song streams on Spotify, according to chart data. That type of exposure means big streaming revenue.

In 2021 it was estimated that he earned $52.5 million in royalties from his 21.5 billion streams. In 2022 he was the most-stream artist in the U.S.

Based on his earnings from 21.5 billion streams, it’s likely that Drake has earned over $150 million just from Spotify.

Drake’s Tour Revenue Is Breaking Records In 2023

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Drake’s “It’s All A Blur” tour in 2023 set a record for the most money earned per show for a rapper. According to touring data, here’s the breakdown from the first 9 of 55 shows:

• $41,195,428 Revenue ($4,577,270 avg.)
• 145,035 Tickets Sold (16,115 avg.)
• $284.04 Average Price

HypeBeast reports that Drake became the first rapper in history to surpass $5 million in revenue for a single concert. What’s more amazing, he did it with back-to-back concerts in Washington D.C. on July 28 and 29, when he earned an average of $5.032 million for each night.

TheRichest.com broke down Drake’s touring revenue through 2018, and it’s a massive amount of money earned.

Not New Hip Hop estimates that Drake will earn over $200 million from the “It’s All A Blur” concert tour.

Degrassi Only Earned Drake $50,000 Per Year

A young Aubrey Drake Graham landed a role as Jimmy Brooks on the popular Canadian TV show Degrassi: The Next Generation. Drake appears as a regular cast member from seasons 1 through 7 and then as a guest star on season eight.

While Drake broke through with that role, it paid a shockingly low salary of $50,000 per year or around $2,000 a month after taxes.

Drake’s Endorsement Deals Have Brought In Millions

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As one of the world’s most recognizable rappers and celebrities, Drake has landed some impressive endorsement deals with some of the world’s largest brands.

Drake worked with Nike on an Air Jordan campaign, hawked Apple products to his tens of millions of fans, and endorsed Sprite.

The famed rapper also has inked deals with Kodak and has worked with Virgin America. That last endorsement was pretty cool, with the company naming its Airbus A320 the “Air Drake.”

In 2017 it was estimated that Drake made $30 million from endorsements, although the exact number for all of his endorsements is not known. We do know he signed a $19 million deal with Apple in 2015 and a $10 million deal with Warner Bros.

Drake’s Net Worth Is Partially Fueled By Investments And Partnerships

Drake doesn’t just endorse products, he has also founded his own businesses, invested in established businesses and sports teams, and even started partnerships with some of the world’s biggest brands. Here’s a quick look at some of his biggest business deals to date.

Drake’s Ovo Clothing brand has continued to grow since its founding and is now earning upwards of $50 million per year, according to Boardroom. The company’s revenue is partially derived from partnerships with the NFL and MLS.

Drake’s investment in Dave’s Hot Chicken is interesting because of the company’s explosive growth. In just three years, the company grew from two locations to 118. Sale store sales also increased by 156% during the same time period.

When he’s not investing in companies, Drake also serves as a brand ambassador for various interests.

Drake’s $100 Million A Year Endorsement Deal With Stake.com

Drake’s net worth is likely seeing its biggest bump in years thanks to an estimated $100 million a year endorsement deal with Stake.com.

According to The Financial Times, Drake agreed to rep the crypto-based gambling site in 2022 in what would be considered one of the biggest brand sponsorships of all time.

Drake has reportedly won more than $38 million in Bitcoin gambling on his cryptocurrency betting site; of course, that’s a high-stakes game that could turn the other way at any time.

What’s Drake’s Net Worth In 2023?

Drake’s net worth continues to grow, and with huge endorsement deals that span multiple years, new albums dropping on a regular basis, and his own businesses that continue to grow, we expect his 2023 net worth of $250 million to grow quickly in the coming years.