Net Worth Ranker
What Is The Weeknd’s Net Worth?
The Weeknd, born Abel Makkonen Tesfaye on February 16, 1990, boasts a substantial net worth estimated at $300 million as of today. This impressive figure is primarily accumulated through his successful music career, strategic business ventures, and shrewd real estate investments. His journey from a YouTube sensation to a global music icon underscores his talent and business acumen.
The Weeknd’s Earnings and Music Career
The Weeknd’s primary source of wealth is his music. He has sold over 70 million records in the United States alone. Earnings surge significantly during touring years; for example, in a given year when he’s actively touring, he can generate around $90 million before taxes. His recording contracts and royalties from streaming platforms such as Spotify and Apple Music contribute significantly to his annual income. In 2017, The Weeknd set a Guinness World Record for the Most Streamed Album on Spotify in One Year, further solidifying his position in the music industry and increasing his earning potential.
His debut mixtape, “House of Balloons,” released independently, was a critical success and garnered attention from industry heavyweights like Drake. This led to collaborations and touring opportunities, significantly boosting his exposure and income. He has released multiple successful albums including “Beauty Behind the Madness” which sold 412,000 units in its first week and eventually went platinum, selling 1.5 million copies globally, and “Starboy,” featuring Daft Punk.
The Weeknd’s Real Estate Portfolio
The Weeknd has made significant investments in real estate, contributing substantially to his net worth. In December 2019, he purchased a penthouse in Los Angeles overlooking the Beverly Hills Country Club for $21 million. This luxurious residence incurs a monthly HOA fee of $6,800. Before acquiring this penthouse, he rented a triplex penthouse in New York City for $60,000 per month. He initially listed this property for $22.5 million in January 2022 and eventually sold it in August 2023 for $19 million.
Previously, The Weeknd owned a three-acre estate in Hidden Hills, California, which he bought for $18 million in June 2017. This expansive home features over 13,000 square feet of living space, including nine bedrooms, 11 bathrooms, and a 1,200-square-foot guest house. He listed this property for sale in June 2020 for $25 million and sold it in April 2021 to Madonna for $20 million. Madonna later sold it in June 2023 for $23 million.
In August 2021, The Weeknd acquired a mansion in the Bel Air neighborhood of Los Angeles for $70 million. This 33,000-square-foot house sits on 1.6 acres and overlooks the Bel-Air Country Club. The property includes an indoor pool, sports court, movie theater, gym, music studio, and outdoor pool. These real estate ventures highlight The Weeknd’s investment strategy and contribute to his overall financial success.
The Weeknd’s Business Ventures and Endorsements
Beyond his music career, The Weeknd has diversified his income through various business ventures and endorsements. He owns his record label, XO, which operates as a subsidiary of Republic Records. This venture allows him to control his creative output and profit from the success of artists signed to his label.
He has collaborated with numerous brands, including Puma, for whom he served as a brand ambassador. He also has partnerships with companies in industries ranging from condoms to e-cigarettes, demonstrating his wide-ranging appeal and ability to connect with diverse audiences. Additionally, The Weeknd is heavily involved in fashion, selling his own “XO” branded merchandise and collaborating with brands such as A Bathing Ape and designers like Alexander Wang.
The Weeknd also owns shares in esports company OverActive Media Group, showcasing his interest in emerging industries. In August 2020, he partnered with TD Bank to launch Black HXOUSE, an incubator program for Black entrepreneurs in Canada. In March 2021, he auctioned off visual artwork and an unreleased song as an NFT on Nifty Gateway. He later joined Tom Brady’s NFT platform, Autograph, as a board member in October 2021. These ventures demonstrate his commitment to innovation and his willingness to invest in diverse opportunities.
The Weeknd’s Philanthropic Efforts
The Weeknd has also been involved in various philanthropic endeavors. In April 2021, he donated $1 million through the United Nations World Food Programme (WFP) to relief efforts in Ethiopia for people affected by the Tigray War. In March 2022, he partnered with the WFP to launch the XO Humanitarian Fund, donating $1 from every ticket sold at his After Hours til Dawn Tour, in addition to a $500,000 donation. These efforts showcase his commitment to giving back and using his platform to support important causes.
Early Life and Career Beginnings
Abel Makkonen Tesfaye was born on February 16, 1990, in Toronto, Ontario. Raised by his mother and grandmother after his parents separated, The Weeknd’s early life was shaped by his Ethiopian heritage and religious upbringing. He attended the Ethiopian Orthodox Church frequently. He began using drugs at age 11, which later escalated to harder drugs, and he claims that he committed crimes to fund his addiction. He dropped out of high school before his final year.
His stage name, “The Weeknd,” originates from his decision to leave high school and his family’s house “one weekend and never came home.” Three years later, he met producer Jeremy Rose, who saw Tesfaye as the ideal figurehead for a “dark R&B” movement. Rose produced several songs that Tesfaye rapped on, under monikers such as “Kin Kane” and “The Noise.” Tesfaye uploaded these tracks to YouTube, quickly gaining a following and drawing the attention of Drake. This initial exposure laid the groundwork for his future success.
Musical Style and Influences
The Weeknd’s musical style is a blend of indie, electronic, and R&B elements. Heavily influenced by artists like Michael Jackson and Prince, his lyrics often explore themes of love, loss, and hedonism. His music resonates with a broad audience, appealing to both mainstream listeners and those seeking more alternative sounds. His ability to blend genres and create a unique sonic landscape has contributed to his widespread popularity and critical acclaim.
Awards and Recognition
The Weeknd has received numerous awards and accolades throughout his career. He has won four Grammy Awards, a Latin Grammy Award, 20 Billboard Awards, 22 Juno Awards, six American Music Awards, and two MTV Video Music Awards. He has also been nominated for an Academy Award and a Primetime Emmy Award. These awards recognize his artistic achievements and his significant impact on the music industry.
The Weeknd’s Personal Life
The Weeknd’s personal life has also been a subject of public interest. He dated model Bella Hadid in 2015 before splitting in 2016. He then dated Selena Gomez in 2017, and the couple lived together before separating. He later reconciled with Bella Hadid in 2018 but separated again in 2019. In April 2023, The Weeknd revealed that he has attention deficit disorder (ADHD). He has been known for giving back through many philanthropic ventures over the years.
Details about his cars and planes
While specific details about his private jet, including the exact model, are not widely publicized, it is common for high-net-worth individuals like The Weeknd to own or lease private aircraft for travel convenience and efficiency. Specifics regarding the acquisition cost and ongoing maintenance expenses remain confidential.
Although precise information about The Weeknd’s car collection isn’t fully available, it is probable that it includes a number of high-end luxury and sports vehicles. He would probably own cars made by brands like Lamborghini, McLaren, Ferrari, and Rolls-Royce given his financial resources and taste for luxury. These cars can cost anything from a few hundred thousand to well over a million dollars, and they represent the celebrity’s success and status.
