Drake has been named the No. 5 richest rapper in the world with a $150 million net worth - here's a look at how he got there (2024)

Drake — a music artist who goes by his middle name — was named the No. 5 richest rapper of 2019 by Forbes. The rapper's net worth is estimated to be $150 million. At 32 years old, Drake is the youngest on the list. From 2018 to 2019, Drake's net worth grew by 50%, according to Forbes. And that's thanks to way more than just his music. Drake told Forbes that he is always trying to get "better at things that make money." While that "objective" of his does include reportedly making around $2 million per night on tour... ...it also includes his various business projects like the OVO family of brands he started. OVO stands for October's Very Own — Drake was born in October so the brand name is a nod to himself. The company started as an online community where the budding rap star released his first studio album, "Thank Me Later." OVO co-founder Oliver El-Khatib likened the MySpace page where the brand started to today's Instagram in terms of the platform's ability to facilitate a connection between an artist and their fans. Before he reached hip hop superstardom, Drake was an actor. He was a regular on the teen-focused soap opera, "Degrassi: The Next Generation." So Drake, the actor, turned to a MySpace page to transition to Drake, the musician. The page turned into a blog, which became a spot for Drake, El-Khatib, and their team to post inspiration and also their original work, El-Khatib said. When the first album came out in 2010, it went right to the top of the US Billboard 200 list. Drake went on to make several more albums, some of which reached No. 1 on charts and won various awards. He also won a Grammy Award for the best rap album in 2013. In 2011, the brand started to release clothing. El-Khatib said it was because the group needed some tour-specific clothing for employees at venues to easily recognize the team. Since then, fashion has been the company's biggest source of revenue and is projected to do $50 million in sales in 2019. The brand has also participated in collaborations with other fashion icons. In December 2013, Drake announced a collaboration line with Nike's Jordan Brand. But clothing isn't the company's only source of revenue. There is also OVO Sound and OVO Sound Radio — a record label and radio program respectively. The actor-turned-musician also has quite an extensive real estate portfolio. His most recent Los Angeles acquisition was a $4.5 million ranch in Hidden Hills — a neighborhood also known for being the home of celebs like the Kardashians. He dubbed the first of his three Hidden Hills homes the Yolo Estate. Drake paid $7.7 million for the estate in 2012. The third home — a 1950s-style ranch — bumped up Drake's Hidden Hills acreage to a cool 6.7 acres. That's roughly the size of five football fields. Before all the acting, businesses, and subsequent sources of income, Graham was busy growing up in Toronto, Canada. He was raised predominantly by his single mother in a Jewish household. Through his own song lyrics and different interviews with magazines like GQ, the rapper has touched on having a complicated relationship with his father, but in recent years the rapper has said, "We're cool" now. Like many religiously observant Jewish people, Drake had a Bar Mitzvah when he was around 13 years old. Billboard reported that he even hosted a "re-Bar Mitzvah" for his 31st birthday. One of the ways Drake stays connected to his Toronto roots is through his ambassadorship-turned-partnership with the city's NBA team, the Raptors. In 2013, the rapper who grew up a "die-hard fan" of the team was named Raptors' global ambassador. He said as ambassador, he wants "to bring the excitement into this building, I want a team that people are dying to come see, I want the tickets to be extremely hard to get, I want to bring that aggression, I want to bring that energy." He's even hinted at wanting to buy the team one day. With Drake's help, the team launched a publicity campaign in 2014. Team representatives have said "We the North" is an attitude and mindset that they hoped fans all over the world would get behind... ...and they have. In 2017, the partnership between the star and the team grew its philanthropy reach. Drake and the Raptors donated a total of $3 million to Toronto and to Canada Basketball. The money was to be used to build courts around the city and facilitate the overall growth of the sport in the community. In March 2019, the Raptors' practice facility was renamed the OVO Athletic Centre. Even though Drake is often seen courtside cheering on the Raptors... ...he's also proven to be a Golden State Warriors fan at times. In fact, he bet French Montana $60,000 that the Warriors would beat the Cleveland Cavaliers in the 2016 NBA Finals — the Warriors lost and Drake was out a cool $60K. Another NBA team that has had the rapper's heart at one point is the Miami Heat. He's been accused of being a "bandwagon fan" — someone who supports whatever team is supposed to be the best that season. He was spotted on the Heat's sidelines cheering for pals Dwyane Wade, Chris Bosh, and LeBron James. But the rapper has also proven to show some philanthropic love for the Florida city. In 2018, he donated $50,000 to help pay for a new homeless shelter after visiting Miami’s Lotus House — the city’s only homeless shelter for women and children at the time. He also gave Target gift cards to mothers and toys to children. The rapper used his "God's Plan" music video budget of almost $1 million to make different donations around the city. The video opens with a statement that reads: "... Don't tell the label ..." He filmed the video in various locations around Miami and made subsequent donations. He gave Destiny James, a student at the University of Miami, a check for $50,000 ... ... he walked into a grocery store and told shoppers he'd pay for everything they bought that day ... ... he walked up to families and handed them stacks of cash ... ... he donated $25,000 to Miami Senior High School ... ... he danced with kids at the Overtown Youth Center ... ... and donated $20,000 to the Miami Fire Department. Other lucky people around the city were given cars and shopping sprees at Saks Fifth Avenue. While it's clear the rapper has spent a significant amount of money on strangers, he has also reportedly been supporting Sophie Brussaux — a former adult-film star and the mother of Adonis, Drake's son. Drake hasn't been without his share of controversies. When fellow rapper Pusha T announced to the world that Drake, in fact, did have a son, it made headlines. He also called out Drake for wearing blackface on one of his album covers. October's Very Own defended himself in the conversation around blackface, but he did confirm Pusha T's allegations that he had a son. The confirmation came in 2018 when Drake said he was "hiding the world from my son," not the other way around. Drake is constantly working on new ventures — like investing in tech company Omni — and making music. There's no telling what's next in Drake's plan.