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5 Businesses Owned by Drake You Probably Didn’t Know About

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Drake is a Canadian rapper who was born to an African American father and a White mother. The rapper is well-known for his remarkable musical abilities, but he is also an entrepreneur and investor in the business sector.

His profits from rap and entrepreneurship have catapulted him into one of the world’s highest-earning rappers; Forbes assessed his net worth at $150 million in 2019. While Drake is well-known for his rap career, less is known about his business pursuits and investment ambition.

In this article, HowAfrica highlights some of Drake’s businesses.

1. Virginia Black Whiskey

Drake co-founded Virginia Black, a whiskey brand, with Brent Hocking, founder of DeLeón Tequila. In 2016, the brand opened its first outlets in New York, Nevada, and California. Later that year, the brand became Canada’s best-selling liquor.

The brand’s success has been ascribed to Drake and his father pushing it in advertisements and expanding the number of venues where the whiskey is sold.


2. Toronto Raptors

Drake owns the Toronto Raptors in addition to his whiskey company. At the completion of the 2013-14 season, he was named the NBA franchise’s official ambassador. His time with the Raptors saw the team transform from a five-year losing streak to a competitive squad, making seven consecutive playoff appearances and earning their first title in 2019.


3. SiriusXM

Drake founded the Sirius XM radio station Sound 42, a 24-hour, round-the-clock curated music channel that is being used as a new venue for his show, OVO Sound Radio, which was previously on Apple Music.


4. OVO Label

Drake established the OVO label in 2012. The concept for the OVO label, however, dates back to 2008, when Drake first met Oliver El-Khatib. It began as a Myspace page where they would publish music, fashion, and other content.

OVO now has storefronts that sell a variety of things and grossed approximately $50 million in 2018. OVO has also signed PartyNextDoor, DVSN, Majid Jordan, Roy Woods, Popcaan, and Baka Not Nice.


5. Dreamcrew

Drake co-founded DreamCrew, a management and entertainment company. The organization, which was founded in 2017, produces film, television, and special projects, as well as overseeing Drake’s professional career and business portfolio.

The Carter Effect was the firm’s first project, and it studied the impact that NBA legend Vince Carter had on basketball in Canada during his time with the Toronto Raptors.

Uninterrupted, LeBron James and Maverick Carter’s production company, has also worked with the firm. The company’s other projects include the film Spree, the documentary Ready for War, the television series The 48 Laws of Power, and, most notably, the HBO series Euphoria.

Drake’s music journey

Drake lived with his mother after his father moved to Memphis following their divorce when he was five years old.

At the age of 15, he appeared as Jimmy Brooks, an amateur rapper, on the popular Canadian teen drama Degrassi. Drake was a regular cast member from Season 1 to Season 7, with guest appearances in 2008. He earned $50,000 a year in salary from the show for his role, which equates to $2000 per month after taxes.

Drake’s earnings from Degrassi were the main source of income for him and his mother at the time, as she grew unwell and was unable to work. Later, the rapper moved into music and began releasing mixtapes.

He got record agreements after becoming an independent musician, inspired by rapper icons such as Jay-Z. In 2005, he published his debut mixtape and sold 6,000 copies straight. The following year, he released another mixtape on his own label, October’s Very Own (aka OVO Records).

He’s since sold out tours, collaborated with A-list artists like Lil Wayne, Nicki Minaj, and Rihanna, and even established his own champagne brand. With a $2 million advance, he was signed to Lil Wayne’s Young Money label in 2002. He also went on to become Spotify’s second most-streamed artist of all time.

Drake’s Scorpion album became the first-ever album to receive over one billion Spotify plays in its first week of release, and it also became the most popular album in the United States in 2018 with 3.905 million equivalent album units. His God’s Plan album also had the highest streams in 2018.

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