Aside from making chart-topping hits, Drake is also known for his wealth, and it seems like his earings will continue to grow this year as he made a big career move with a record giant; what did he do?
According to Variety, Drake has signed a multi-faceted with Universal Music Group that covers recordings, merchandise, publishing, visual media projects, and more.
A source told the outlet that the current arrangement is "Lebron-sized," as the amount of money he could take home is shocking.
Previously, the rapper referenced his deal in the song "Lemon Pepper Freestyle" from his "Scary Hours 2" EP.
The lyric reads, "three-sixty upfront, it all comes full circle," meaning $360 million.
In addition, he also referenced his earnings on his latest album, "Certified Lover Boy," where he rapped, "Billionaires talk to me different when they see my pay stub from Lucian Grainge," naming the UMG chief executive.
The Canadian star has sold 37 million album project units throughout his career. He also amassed a massive success for being the first artist to surpass 50 billion combined streams on Spotify.
Aside from making a whopping $50 million every year from making music, insiders reveal that the latest deal with UMG could bring him $400 million or more.
The rapper's signing comes after The Weekend made a similar move. He reportedly signed a similar expansion of his original deal with UMG subsidiary Republic Records.
The deal covers "recorded music, publishing, merchandise, and video." (via UPROXX)
The reason why these types of deals are common is that record companies want to keep the most prominent artists in the music industry under their names.
As of this writing, Drake has not confirmed whether the circulating reports are accurate.
How Rich Is Drake Exactly?
According to Wealthy Gorilla, the former actor's net worth is estimated to be $180 million, making him one of the wealthiest personalities in the hip-hop scene.
To spend his money, the outlet noted that the rapper loves buying expensive things for his pleasure, like his $7.7 million property in Hidden Hills, California.
In addition, he has a wide selection of cars, spanning from extreme to rare sports vehicles. His rides are imported overseas and customized.
Since Drake is busy touring around the world, he also owns a Boeing 767 jet plane that has been customized with his "Air Drake" logo. The aircraft is priced at $185 million.
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