Has Nicki Minaj revealed high-level financial info fellow superstar Drake is trying to keep a secret? A recent Instagram Story Minaj put up seems to suggest that the Toronto-based Drake is a billionaire in disguise.
In the Instagram Story, posted Tuesday, Aug. 9, Minaj seems to be getting ready to board a private jet painted baby blue. Drake’s “Air Drake” jet sports that distinctive color.
“This is what happens when you got a rich — I’m sorry, a very rich — a very rich, rich, rich rich, Canadian friend,” she says in the video. “Who is the only billionaire I know that don’t want people to know he a billionaire. I get it, but all right.”
Billionaire or No Billionaire
Drake does have some expensive toys, such as the private jet — or two.
Drake’s Boeing 767-200, that is complete with gold detailing on the aircraft walls; an entertainment/theatre room; at least three fully enclosed private suites and velvet couches, is reportedly worth $200 million and can seat 30 passengers.
Checking out his various business moves and portfolio, Forbes had the “God’s Plan” emcee knocking on $150 million in 2019. But he’s made move major business moves since then.
In May 2022, according to Variety, he reportedly signed a “Lebron-sized” recording contract with Universal Music Group, whispered to be worth approximately $400 million. The exact figures of the deal are unreleased. In what many found to be a line that referenced the hefty bag deal of $360 million, Drake spits this lyric on his “Lemon Pepper Freestyle,” song, rapping, “Three-sixty upfront, it all comes full circle.”
The Drake Investment Portfolio
The rapper’s business portfolio is diverse, taking only a few ventures where he lends an actual “image and likeness” for endorsement. Three of those projects are not entirely music related: an ambassadorship with the Toronto Raptors; his furnishing of the deal between Caffeine TV and the number-one battle rap league in the world, the Ultimate Rap League; and the investment in Stake, an online casino/gambling outfit that has gained him millions of dollars.
Weeks ago, Drake personally used the Stake app and won $3,723,077, betting on two mixed martial artists, Molly McCann and Paddy Pimblett.
The “Scorpion” artist also launched his own label and brand under OVO, and has brought in new musicians to include other top charters such as PartyNextDoor and Canadian R&B duo Dvsn.
In 2017, he launched DreamCrew with his friend Adel Future Nur, a management company and entertainment group that produces “film, television and special projects” as well as oversees “Drake’s professional career and business portfolio.”
Some of DreamCrew’s projects include the documentary “The Carter Effect,” co-produced with LeBron James and Maverick Carter, about NBA’s Vince Carter and his influence on the Toronto Raptors. The company also produced the film “Spree,” the documentary “Ready for War,” the TV series “The 48 Laws of Power,” and most notably the HBO series “Euphoria,” which was nominated for 37 awards, with three of its 11 award wins being Primetime Emmy Awards.
Drake has tapped into the spirits and adult beverage industry with a company called Virginia Black, a whiskey supported by the partnership of the rapper and DeLeón Tequila founder Brent Hocking. Though released throughout North America, in 2016 it became the highest-selling liquor in Canada. This is another project where Drake used his face to promote a product.
The artist-turned-mogul is also very deep in the cryptocurrency industry, recently becoming an investor in Wealthsimple, a Canadian fintech startup that is valued at $5 billion, and in the company MoonPay, a crypto-payment platform that describes itself as the PayPal for the crypto economy in its Series A round of funding, bringing in $3.4 billion.
The Billionaire Answer
In true rap fashion, Drake often boasts his fortune in rhymes. In addition to the lyrics on “Lemon Pepper Freestyle,” on a Migos’ song, “Having Our Way,” the featured Drake raps more explicitly, “Billionaires talk to me different when they see my pay stub from Lucian Grainge,” shouting out Sir Lucian, UMG’s Chief Executive Officer.
Whether he is a billionaire or not, the sheer volume of successful big business he is engaged in makes him one of today’s most successful artists in business.