Usher Raymond IV (Usher), a legendary American singer, songwriter, and performer, has made an indelible mark on the music business since his meteoric ascent to stardom in the late 1990s.
He is among the all-time best-selling musical artists, having sold an astounding 23.8 million albums and 38.2 million digital songs in the United States, as well as an astounding 80 million records globally.
This African-American music icon is well-known for his spectacular concerts and passionate voice. Usher has nine number-one singles to his credit, and he has been inducted into the Georgia Music Hall of Fame, the Black Music and Entertainment Walk of Fame, the SoundExchange Hall of Fame, and the Hollywood Walk of Fame.
He has eight Grammy Awards, 34 ASCAP Awards, nine Soul Train Music Awards, and eight American Music Awards in his trophy cabinet. With 18 awards, he is the fifth-most honored performer at the Billboard Music Awards.
Usher’s financial ability, in addition to his musical prowess, has guaranteed his place among the world’s richest musicians. He owns the Cleveland Cavaliers professional basketball team and, along with other music stars, has a minority stock investment in Tidal.
However, Usher’s legacy goes beyond financial achievement. He is a staunch supporter of charitable giving. He collaborated with Anthony Anderson, Kevin Hart, Big Sean, Chris Paul, and others in 2015 to donate nearly $500,000 in scholarships to 20 students at historically black institutions and universities. He was also instrumental in assisting former NFL quarterback Colin Kaepernick in fulfilling his vow to contribute $1 million to underprivileged areas in 2018.
HowAfrica has tracked Usher’s business efforts and discovered that he owns seven companies:
1. Cleveland Cavaliers
Usher owns a small portion of the Cleveland Cavaliers, a well-known professional basketball team. He became the third pop musician to own an NBA franchise when he joined a consortium that purchased the team in 2005 for a reported total of $375 million. The Cleveland Cavaliers won five Central Division Championships, three Eastern Conference Championships, and the coveted 2016 NBA Championship under his ownership.
2. Mass Appeal Magazine
Usher, Universal Music Group, Steve Stoute, Evolution Media, Jon Jashni, Charles King, and others invested $6 million in Mass Appeal Magazine on March 6, 2017. This New York City-based media and content enterprise, which began in 1996 as a graffiti print magazine, exemplifies his dedication to various and creative endeavors.
3. Raymond Braun Media Group (RBMG)
RBMG, a record company founded in 2008 by Usher and talent agent Scooter Braun, was initially formed to oversee the developing career of teen pop sensation Justin Bieber. As of 2023, Justin Bieber is the sole artist signed to the RBMG label, underscoring the importance of the long-term cooperation.
Usher has a minority share in Tidal, the Norwegian-American music streaming service that debuted in 2014. Block, Inc., an American payment processing business helmed by industry giants Jack Dorsey and Jim McKelvey, remains the majority owner of Tidal. Usher is one of sixteen notable artist stakeholders, including Alicia Keys, Kanye West, Beyonce, Rihanna, Madonna, J. Cole, Nicki Minaj, and others, who have a minority equity investment in Tidal.
Usher’s investment in Hungry, a service that connects local chefs with businesses in need of catering, demonstrates his dedication to culinary entrepreneurship. In April 2019, he invested $8 million in this revolutionary catering firm alongside Hip-Hop artist Shawn “Jay-Z” Carter, Walter Robb, Seth Goldman, and Ndamukong Suh. Hungry’s work with J’s Kitchen Culinary Incubator, run by Usher’s mother, Jonetta Patton, demonstrates his commitment to food-related causes.
6. Liquid I.V.
In 2019, Usher teamed up with Kevin Hart, Justin Bieber, Demi Lovato, DJ Khaled, and Scooter Braun to invest $5 million in Liquid I.V., a health science and nutrition wellness firm based in El Segundo, California. Brandin Cohen founded Liquid I.V. in 2012 with the goal of addressing excessive dehydration in children in underdeveloped nations caused by life-threatening infections.
7. New Look
Usher started Usher’s New Look, a charitable organization, with his mother, Jonetta Patton, in 1999. The mission of this organization is to empower impoverished youth through improving the lives of disadvantaged children and adolescents. Usher’s New Look provides a variety of meaningful programs, such as grade-specific initiatives, peer-to-peer training, and mentorship programs, all of which represent Usher’s long-standing dedication to making a positive difference in the lives of young people.