Drake Under Scrutiny For His Use Of LLCs To Preserve His Wealth

BYLavender Alexandria8.6K Views
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US rapper Drake poses in the press room during the 2019 Billboard Music Awards at the MGM Grand Garden Arena on May 1, 2019, in Las Vegas, Nevada. (Photo by Bridget BENNETT / AFP) (Photo credit should read BRIDGET BENNETT/AFP via Getty Images)
An investigation uncovered more than 50 companies he's involved with.

Drake is one of the biggest superstars in all of music and unsurprisingly that's resulted in him accumulating an absolutely massive fortune. According to HotNewHipHop's most recent estimate he's likely valued at somewhere around $250 million. That's among the highest, though not the absolute highest for rappers. It's no surprise then that dealing with all that money can be complicated and a recent report looked into some of the ways the "Rich Baby Daddy" is going so. A CBC News clip dug into some of the details related to where exactly his financial priorities rest.

In the clip they reveal the surprising amount of business ventures Drake has embarked on over the years and how many are still active. They investigate into the viral claim that he's involved in more than 20 businesses and what they find is pretty surprising. CBC reportedly uncovered more than 50 different businesses in which the rapper's assets exist. They conclude that portion of the story by speaking to a financial expert about their findings. The expert reveals that what he's doing is actually pretty common among those who have amassed quite a bit of money and a pretty good way to protect their assets from potential creditors. Check out the full piece they did on Drizzy's fortune below.

Read More: Birdman Recalls Predicting Drake's Success

Drake Has Assets In More Than 50 Companies

Drake is still picking up the pieces from his all-in beef with Kendrick Lamar earlier this year. The two exchanged a series of rapid fire diss tracks that elevated to the level of some pretty serious allegations. Drake has continued recording music in the wake of the beef. He dropped a new track with Sexyy Red over the weekend. He also reportedly has a song on the upcoming new Camila Cabello album.

What do you think of CBC News' discovery that Drake is using 52 LLCs to protect his wealth? Do you think what he's doing is any different from what many others with his level of wealth do? Let us know in the comment section below.

Read More: Kendrick Lamar Breaks One Of Drake's Spotify Records With A Drake Diss Track

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About The Author
Lavender Alexandria
Lavender Alexandria is a music and culture journalist based in Los Angeles, California. She’s covered dozens of musical genres and styles from the most mainstream to the most experimental and underground on her blog and accompanying YouTube channel that looks at music, pop culture, and Billboard charts since 2017: Lav’s Music Corner. Lavender has produced editorial and listicle content both in written and video form over the past far years and has also interviewed up-and-coming artists like Censored Dialogue. Her experiences covering culture have taken her from Hyperpop parties in LA to underground rap shows in Atlanta, to DIY punk shows in Charlotte. Lavender has also written for iHeartRadio, covering some of the biggest artists in Hip Hop such as Ice Spice, Drake, Doja Cat and Cardi B. She also has bylines with ScreenRant and continues to write for Ringtone magazine. Lavender is a lifelong Charlotte Hornets fan and her favorite rap artists include Clipping, Little Simz, Earl Sweatshirt, and Kendrick Lamar.
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