Net Worth Ranker
What Is Rick James’ Net Worth?
At the time of his death on August 6, 2004, Rick James, the renowned American singer, songwriter, musician, and record producer, had a net worth of approximately $250,000. This figure is based on court documents released following his death, which detailed the value of his estate. While this might seem modest compared to the wealth amassed by many contemporary artists, it’s crucial to consider James’s lavish spending habits throughout his life.
Rick James’ Financial Ups and Downs
Rick James’ financial journey was marked by periods of significant success and considerable expenditure. He rose to fame in the 1970s after signing with Motown Records. His debut solo album, “Come Get It!” was released in 1978, marking his entry into the music scene. But, it was his 1980 album “Street Songs,” that catapulted him to superstardom. “Street Songs” spent an impressive 78 weeks on the US R&B Chart, holding the #1 position for 20 weeks. This album featured hits such as “Mary Jane” and “Super Freak,” which would become signature songs and earn significant royalties and performance revenue. While specific sales figures for “Street Songs” are difficult to confirm in today’s market due to constantly evolving tracking methods, the album was certified 3x platinum by the Recording Industry Association of America (RIAA) for shipping three million copies. Earning from each record varied, but it’s safe to assume that the sales generated millions of dollars for James and Motown Records.
Despite the commercial success of “Street Songs,” Rick James never quite reached the same level of popularity. Royalties from his past work continued to generate income, but he struggled to get back to the top of the charts. Despite his continued respect, health issues hampered his career. A stroke in 1998 left him with difficulties, making it hard to continue.
One major financial boost came later, when MC Hammer sampled “Super Freak” for his 1990 hit “U Can’t Touch This.” Although initially uncredited, James pursued legal action and eventually received songwriting credit, which entitled him to royalties. Hammer’s album, which included “U Can’t Touch This,” sold over 18 million copies worldwide, leading to significant royalty payments for James. He was also awarded a Grammy for Best R&B Song. This was his first and only Grammy.
In the 1990s, Rick James was estimated to have spent $7,000 per week on cocaine, which he later described as “a hell of a drug.” He also faced expensive legal issues, including a multi-million dollar settlement to a woman who accused him of assault. In 1991, James and his then-girlfriend Tanya were arrested and charged with kidnapping and torturing Frances Alley. He was later charged with kidnapping and beating Mary Sauger for 20 hours. While the torture charges were dropped, James was convicted of two kidnapping charges and sentenced to five years in prison. He was released after serving two years.
These legal battles resulted in substantial legal fees and settlements. Though specific amounts vary among sources, these expenses significantly impacted his financial stability.
By the time of his death in 2004, Rick James lived in a modest apartment in Burbank, California. There are no detailed records of his rent or purchase price for this property.
Rick James’ Legacy and Catalog Sale
Although Rick James’ estate was valued at only $250,000 at the time of his death, the rights to his music would prove to be a valuable asset for his heirs. James’ music continues to be streamed millions of times per year. And also used by many contemporary artists. Rick James’ heirs sold 50% of his music publishing catalog to Hipgnosis Songs Fund in November 2020. This included a 50% share of Rick James’ recorded music masters, writer’s share, and the rights to 97 songs. The exact amount of the sale was not disclosed, but similar catalog sales during that time were valued at more than $100 million. It’s likely that Rick James’ catalog was valued around $100 million.
Early Life and Career Beginnings
James Ambrose Johnson Jr. was born on February 1, 1948, in Buffalo, New York. He was the first of eight children born to James Johnson, an autoworker, and Mabel Johnson, a dancer and numbers runner. His father left the family when he was ten. He attended Orchard Park High School and Bennett High School, but dropped out. James began playing music at a young age. He enlisted in the United States Navy at age 15, but went AWOL and fled to Toronto in 1964 to avoid being drafted. There, he met Levon Helm, who introduced him to Toronto’s music scene. To avoid detection, James went by Ricky James Matthews and formed the Mynah Birds, a soul and rock band. The band went to Detroit to record at Motown Records. There, James met Marvin Gaye and Stevie Wonder. Wonder encouraged James to shorten his name to Rick James.
In 1966, Motown found out about James’ status as a fugitive from the Navy. They said they wouldn’t release any of his music until he sorted out his legal issues. He ultimately turned himself in to the FBI and served five months of hard labor at the Portsmouth Naval Prison. Once released, he worked as a writer and producer for The Spinners and The Miracles at Motown. James moved to Los Angeles and met Stephen Stills, Jim Morrison, and Salt’N’Pepper.
Rick James’ Career Milestones and Collaborations
In 1978, Rick James released “Come Get It!” his first solo album with Motown Records, launching him into stardom. Soon after, he released a second and third album, and launched his first headline tour. Following the tour’s success, he released his fourth and fifth albums, “Street Songs,” his best-selling album to date. This album featured hits such as “Super Freak” and “Give It to Me Baby.”
Rick James also produced for The Temptations, The Doo-Rags, and the Mary Jane Girls. He also made an appearance on “The A-Team” and made music for Eddie Murphy.
Despite facing personal and legal issues in the 1990s, Rick James experienced a career resurgence in 2004 after appearing on “Chappelle’s Show,” leading to new performances, including his last one at the BET Awards in June 2004.
Rick James’ Personal Life and Relationships
James had two children with singer-songwriter Syville Morgan: Tyenza and Rick Jr. From 1982 to 1984, he dated Linda Blair. Blair became pregnant, but had an abortion. James wrote about this in his memoir. James met Tanya Hijazi in 1989, when she was 17 years old. They began dating in 1990 and had a child, Tazman, together in 1993. They married in 1996 and divorced in 2002.
James worked professionally and romantically with Teena Marie. He also befriended Eddie and Charlie Murphy, Debbie Allen, Smokey Robinson, and Marvin Gaye. James was known for partying and his hard lifestyle, which led to concerns from his friends. His drug use led to health problems and legal issues.
Rick James’ Final Years and Death
On August 6, 2004, Rick James was found dead in his Los Angeles home by his caretaker at the age of 56. Drugs were found in his system, but not at lethal levels. He is believed to have died of pulmonary heart failure due to pre-existing conditions. There was a public viewing, then a private service in Hollywood. He was buried in Buffalo, New York. James’s memoir, “The Confessions of Rick James: Memoirs of a Super Freak,” was released in 2007.
