Net Worth Ranker
What Is Machine Gun Kelly’s Net Worth?
As of 2024, Machine Gun Kelly, born Richard Colson Baker, boasts a net worth of $25 million. This valuation reflects his successful career as a rapper, actor, and musician known for blending hip-hop, rock, and pop genres. His earnings stem from various sources, including music sales, streaming royalties, touring, acting roles, and potentially brand endorsements.
Early Life and Career Beginnings
Richard Colson Baker was born on April 22, 1990, in Houston, Texas. Due to his parents’ missionary work, he moved frequently, living in Germany, Egypt, and various U.S. states. Eventually, he settled with his father in Denver. During his teenage years, Baker channeled his experiences into music, developing a passion for rap. After his mother left and his father went to work for the Army in Kuwait, Baker lived in a neighbor’s basement and began experimenting with drugs. It was during this period he recorded his first mixtape, Stamp of Approval. After returning from Kuwait, Baker convinced an MC manager to support his career, adopting the stage name Machine Gun Kelly, known for his rapid-fire lyrical delivery. He performed at local venues and the Apollo Theater, also appearing on MTV2’s Sucker Free Freestyle, and released his second mixtape, 100 Words and Running. Despite growing exposure, MGK faced financial challenges, including being kicked out of his family home and working at Chipotle to make ends meet while also being a father. A breakthrough came with the single “Alice in Wonderland,” which garnered awards and increased his recognition. Subsequently, he released the mixtape “Lace Up.” One of the tracks was dedicated to the Cleveland Cavaliers, which was played at their stadium during home games. Following this successful run, MGK collaborated with Juicy J on the single “Inhale.”
Music Career and Album Sales
In 2011, Machine Gun Kelly signed with Bad Boy Records, owned by Sean Combs. His debut studio album, “Lace Up,” was released in 2012, featuring hits such as “Invincible” and “Wild Boy,” and collaborations with artists like Tech N9ne, Twista, and DMX. That year, he collaborated with various artists, including Pusha T and Meek Mill, to create a mixtape called Black Flag. His album sales, while not always publicly specified in precise figures, contribute significantly to his income. While exact sales figures for each album fluctuate, it is estimated that “Lace Up” likely achieved at least gold certification (500,000 units sold) in the United States, based on its initial popularity and charting performance. General Admission was released in 2015, achieving moderate commercial success. Exact sales numbers are hard to pin down, but the album did debut at number 4 on the Billboard 200 chart, suggesting healthy initial sales. It is safe to assume it sold at least several hundred thousand copies. “Bloom” was released in 2017. Its singles performed well, contributing to the album’s overall commercial performance. It is likely that “Bloom” reached at least gold certification. “Hotel Diablo” was released in 2019, also debuted at number 5 on the charts. Exact sales numbers are not easily available, but again, it likely sold a few hundred thousand copies. Tickets to My Downfall marked a significant shift in MGK’s sound and was released in 2020. The singles “I Think I’m Okay” and “Bloody Valentine” were hits. The album debuted at number 1 on the Billboard 200 chart and achieving platinum certification (1 million units sold). Mainstream Sellout, released in 2022, sustained MGK’s popularity. Album sales likely contributed substantially to his earnings that year. This album also debuted at number 1 on the Billboard 200 chart. While it may not have reached the heights of “Tickets to My Downfall” in terms of long-term sales, it likely achieved at least gold certification.
Singles and Collaborations: Impact on Machine Gun Kelly’s Net Worth
Machine Gun Kelly’s success isn’t solely attributed to his album sales. His singles, particularly “Wild Boy” (featuring Waka Flocka Flame) and “Bad Things” (with Camila Cabello), have achieved significant commercial success. “Bad Things,” for instance, reached number 4 on the Billboard Hot 100 and has been certified multiple times platinum by the RIAA, indicating millions of units sold and streamed. Revenue from these singles comes from digital downloads, streaming royalties (from platforms like Spotify and Apple Music), and licensing for use in films, TV shows, and commercials. Streaming royalties are a crucial component, where artists earn a fraction of a cent per stream. Given the millions of streams his hit singles accumulate, this contributes considerably to his Machine Gun Kelly’s net worth.
Touring and Live Performances
Touring represents a substantial income stream for Machine Gun Kelly. While specific figures for each tour are not always publicly available, major tours can generate millions of dollars in revenue. For example, a hypothetical large-scale tour could gross anywhere from $500,000 to $1 million or more per show, depending on the venue size, ticket prices, and merchandise sales. The “Tickets to My Downfall” tour, supporting his pop-punk-influenced album, likely commanded higher ticket prices due to increased demand. Gross revenue from these tours is then divided among various parties, including the artist, management, booking agents, promoters, and the venue. The artist’s share typically ranges from 30% to 40% of the gross revenue after expenses. Also, the more recent “Mainstream Sellout” tour, one can estimate a similar income potential, considering his continued popularity and the scale of his shows. The tour included 52 dates and earned positive reviews, which typically translates to strong ticket sales.
Acting Career
Machine Gun Kelly has expanded his portfolio into acting, appearing in films like “Beyond the Lights,” “The Land,” “Bird Box,” “The Dirt,” and “Big Time Adolescence.” In 2022, he played “London Clash” in his self-directed film “Good Mourning.” Acting roles provide another source of income, with salaries varying based on the size and scope of the role. For smaller, independent films, an actor of his stature might earn tens of thousands of dollars. For larger, studio-backed productions, his salary could range from hundreds of thousands to potentially over a million dollars, depending on his role’s prominence and the film’s budget.
Real Estate Holdings
In April 2022, Machine Gun Kelly purchased Logan Paul’s former mansion in Encino, California, for $7.5 million. Logan Paul had bought the house in October 2017 for $6.55 million and initially sought $8.5 million for it. This 30,000-square-foot mansion, fully renovated by Paul, includes 14 rooms. Prior to this purchase, in early 2020, MGK rented a newly built home in Sherman Oaks, California, at a monthly rent of $30,000. These real estate investments and rentals reflect how Machine Gun Kelly allocates his earnings. Owning a $7.5 million mansion contributes significantly to his asset portfolio and overall net worth.
Brand Endorsements and Partnerships
While specific brand endorsement deals are not always publicly disclosed, Machine Gun Kelly’s high profile and influence make him an attractive partner for various brands. Endorsements can range from clothing lines and accessories to beverages and technology products. The financial details of these partnerships vary depending on the brand, the scope of the campaign, and the artist’s involvement. A major endorsement deal could be worth hundreds of thousands to millions of dollars annually. His partnership with Un/Dn Laqr, a nail polish brand, is a notable example. The brand was launched in 2021 and quickly gained traction. His participation likely involves not only financial compensation but also a stake in the brand, further boosting his income.
Feuds and Controversies
Machine Gun Kelly’s feud with Eminem in 2018, stemming from a tweet MGK made about Eminem’s daughter years prior, led to diss tracks and controversies. Eminem’s diss track prompted MGK to release “Rap Devil” in response. Eminem banned MGK from his online radio station. While these feuds might cause short-term turbulence, they often boost an artist’s visibility and relevance, leading to increased streams, sales, and overall interest in their work. This increased attention can translate to higher earnings in the long run.
Personal Life and Expenses
Machine Gun Kelly has a daughter, Casie, born in 2009, from a previous relationship with Emma Cannon. His relationships, including his engagement to Megan Fox (announced in January 2022), keep him in the public eye. Public figures like Machine Gun Kelly incur significant personal expenses, including security, travel, personal styling, and general living costs. Maintaining a high-profile lifestyle requires substantial financial resources. His relationship with Megan Fox, has also increased his media presence, which can indirectly increase his marketability and earnings potential. This exposure often leads to additional opportunities, such as joint ventures or sponsorships.
Vehicles and Assets
Information regarding Machine Gun Kelly’s specific vehicle collection and other personal assets is not widely publicized. Celebrities of his stature often own a range of luxury vehicles, including high-end sports cars and SUVs. The value of these assets contributes to their overall net worth. It’s plausible to estimate that MGK owns several luxury vehicles, each valued between $100,000 and $500,000, depending on the make and model. These cars, alongside other assets like jewelry and collectibles, add to his financial portfolio.
Investment Portfolio
Specific details about Machine Gun Kelly’s investment portfolio are not publicly available. High-net-worth individuals often diversify their investments across stocks, bonds, real estate, and private equity. Depending on the size and performance of his investments, this could contribute significantly to his overall Machine Gun Kelly’s net worth. A well-managed investment portfolio can provide a steady stream of passive income and long-term financial security.
Net Worth Trajectory
While the $25 million net worth is current as of 2024, this figure has likely fluctuated over time. Machine Gun Kelly’s net worth has grown substantially over the past decade, driven by his increasing popularity, successful album releases, and expansion into acting and endorsements. Assuming he continues to release successful music and secure high-profile roles, his Machine Gun Kelly’s net worth is poised to increase in the coming years. Continued success in his music career, combined with strategic investments and brand partnerships, could potentially see his Machine Gun Kelly’s net worth double or triple in the next five to ten years.
