Tory Lanez, the Canadian artist, rose in 2013 with “Conflicts of My Soul.” Hits like “Say It” and collaborations with Drake have made him a major player.
He’s into business too, with One Umbrella label and Forever Umbrella clothing.
What are Tory Lanez’s net worth and income sources?
In this piece, we’ll delve into Tory Lanez’s net worth, dissecting his income from music and various ventures, and scrutinizing his investments, endorsements, and even his legal entanglements.
How much is Tory Lanez’s net worth?
In 2020, Tory Lanez’s net worth was estimated to be $8 million.
However, his net worth has since decreased to an estimated $5 million in 2023.
This decrease can be attributed to a number of factors, including:
- Legal fees: Lanez has been involved in a number of legal battles, including the shooting incident with Megan Thee Stallion. These legal fees have cost him millions of dollars.
- Lost income: Lanez’s music career has been significantly impacted by the shooting incident. He has been dropped from several record labels and has been unable to tour or release new music. This has led to lost income.
- Damage to reputation: The shooting incident has damaged Lanez’s reputation and has made it difficult for him to book new performances and endorsements.
How much did Tory Lanez lose in the shooting incident?
It is difficult to say exactly how much money Tory Lanez lost in the shooting incident with Megan Thee Stallion.
However, it is estimated that he could have lost millions of dollars in legal fees, lost income, and damage to his reputation.
What is the future of Tory Lanez’s net worth?
It is too early to say what the future holds for Tory Lanez’s net worth.
However, if he is able to rebuild his career and release new music, his net worth could rebound in the coming years.
Tory Lanez Early Life and Career
Born as Daystar Shemuel Shua Peterson on July 27, 1992, in Brampton, Ontario, Tory Lanez faced parental divorce and lost his mother to illness at 11.
Raised by his missionary father, he led a nomadic life. His rap career started at nine, earning him the nickname “Lanez” for audacity.
At 15, he left school for Toronto, delving into online music.
In 2009, he signed with Sean Kingston’s label, releasing mixtapes like “Just Landed,” “Playing for Keeps,” and more.
Additionally in 2014, he went independent, releasing mixtapes like “Lost Cause” and “Chixtape 3.”
In 2015, a joint venture led to hits like “Say It” and “Luv.”
2016 saw his debut album, “I Told You,” featuring Rick Ross and ASAP Ferg.
In 2018, he dropped “Memories Don’t Die” and “Love Me Now?”. 2019 brought “Chixtape 5,” paying tribute to R&B classics, hitting number two on Billboard 200.
Music Earnings
Tory Lanez’s financial bedrock lies in his music endeavors.
His income springs from album sales, streams, downloads, tours, concerts, and merchandise.
Forbes reports an impressive $20 million earned in 2019, positioning him as one of the highest-paid hip-hop artists that year, surpassing figures like Nicki Minaj, DJ Khaled, and Eminem.
According to Celebrity Net Worth, Tory Lanez’s estimated music earnings are as follows:
- “I Told You” (2016): $500,000
- “Memories Don’t Die” (2018): $1 million
- “Love Me Now?” (2018): $1 million
- “Chixtape 5” (2019): $1.5 million
- “Daystar” (2020): $500,000
- “Alone at Prom” (2021): $500,000
- “Sorry 4 What?” (2021): $500,000
These figures do not account for earnings from mixtapes, singles, features, and ancillary projects.
Additionally, expenses like taxes, fees, and production costs have not been factored in.
Tory Lanez is also recognized for his live performances and tours, which have been headlined by him or featured as opening acts for Drake, Future, Chris Brown, and J. Cole.
He’s graced renowned festivals like Coachella, Lollapalooza, and Rolling Loud, among others.
Merchandise is another feather in Tory’s cap.
He retails an array of products through his website and live shows, including t-shirts, hoodies, hats, masks, posters, and more.
Furthermore, his clothing line, Forever Umbrella, bearing the distinctive logo and slogan “One Umbrella”, is available both online and through select retailers.
Tory Lanez Other Ventures
Tory Lanez wears many hats; apart from his musical prowess, he’s a shrewd businessman and investor.
He’s spearheaded his own record label, One Umbrella, under the aegis of Interscope Records.
This label is home to artists like Melii, Davo, Mariah the Scientist, Mansa, and VV$ Ken.
In addition, Tory Lanez serves as the executive producer for projects under the label, extending creative mentorship to the artists.
Tory Lanez’s investments have spread to various companies and brands, including:
- Lids (a sports apparel retailer)
- Ethika (an underwear brand)
- E11EVEN Vodka (a premium vodka brand)
- Audiomack (a music streaming platform)
The multi-talented artist has also ventured into acting and writing, with appearances in films such as:
- “I Am Wrath” (2016)
- “True to the Game 2” (2020)
- “Triggered” (2020).
He’s penned a memoir titled “Tory Lanez: The First 28 Years,” offering insights into his life and career.
Tory Lanez Endorsements and Partnerships
Tory Lanez has forged partnerships with an array of brands and companies, lending his endorsement to products or services.
He’s associated with names like:
- Puma
- Reebok
- Fashion Nova
- Amazon Music
- YouTube Music
- Spotify.
Conclusion
Tory Lanez’s net worth has taken a hit in recent years due to a number of factors, including the shooting incident with Megan Thee Stallion.
However, if he is able to rebuild his career and release new music, his net worth could rebound in the coming years.