The Weeknd is a Canadian singer-songwriter, record producer, and actor who has achieved great success in the music industry.
With five Grammy Awards, two Billboard Music Awards, nine Juno Awards, and one American Music Award under his belt, it’s no surprise that he boasts an impressive net worth.
In this article, we take a look at The Weeknd’s estimated net worth to give you a better understanding of his financial standing.
Who is The Weeknd?
The Weeknd is a Canadian singer-songwriter, record producer, and actor. He was born in Toronto, Ontario on February 16th, 1990. The Weeknd rose to fame quickly after the success of his debut mixtape titled House of Balloons in 2011. This led to him signing with Republic Records in 2012 and releasing his first studio album Kiss Land that same year. Since then, he has released several other albums and singles that have been successful both commercially and critically.
The Weeknd has had a remarkable career in the music industry. After releasing his debut mixtape House of Balloons in 2011, he quickly rose to fame and garnered a large following. This led him to sign with Republic Records in 2012 where he released his first studio album Kiss Land. His subsequent albums, such as Beauty Behind the Madness, Starboy, and My Dear Melancholy, have all been successful commercially and critically.
Early Life of The Weeknd
Family background
The Weeknd, originally born Abel Makkonen Tesfaye, was born in Toronto, Ontario on February 16th, 1990. His parents are Makkonen and Samra Tesfaye and he is the only child of the two. His mother is Ethiopian and his father is from Eritrea. Growing up, his family lived in Scarborough and The Weeknd attended West Hill Collegiate Institute.
Childhood experiences
The Weeknd had a difficult childhood growing up. His parents separated at an early age, leaving him to be raised by his grandmother in Scarborough. He often found himself on the streets and as a result, he got involved with drugs and alcohol at a young age. This led to an unstable lifestyle and The Weeknd eventually dropped out of school when he was 17.
Education
The Weeknd had a limited education growing up. He attended West Hill Collegiate Institute in Scarborough but dropped out when he was 17. Although he did not have the opportunity to pursue a traditional college education, The Weeknd has been able to find great success in the music industry and has gained invaluable knowledge and experience throughout his career. In 2017, he was awarded an honorary doctorate from the University of Toronto.
The Weeknd’s Music Career
Early music projects
The Weeknd’s music career began with his first mixtape House of Balloons in 2011. As soon as it was released, it gained traction and recognition among music fans. This led to him signing with Republic Records in 2012 where he released his first studio album Kiss Land that same year. Subsequent albums such as Beauty Behind the Madness, Starboy, and My Dear Melancholy have all been successful commercially and critically.
Major breakthrough with House of Balloons
The Weeknd’s major breakthrough came in 2011 with the release of his debut mixtape House of Balloons. The mixtape was met with enormous critical acclaim and quickly garnered a large following. As a result, it led to him signing with Republic Records in 2012 and releasing his first studio album Kiss Land that same year. Since then, he has released numerous successful albums and singles that have solidified his status as one of the greatest artists in modern music.
Highlights of his musical accomplishments
The Weeknd has had remarkable accomplishments in the music industry over the years. He has achieved commercial success with all of his studio albums, including Kiss Land, Beauty Behind the Madness, Starboy, and My Dear Melancholy. His singles have also been met with great success, such as “Can’t Feel My Face” and “The Hills” which both reached the number one spot on the US Billboard Hot 100. He has won numerous awards, including three American Music Awards, two Grammy Awards, nine Billboard Music Awards and eleven Juno Awards.
The Weeknd’s Business Ventures
Record deals and contracts
The Weeknd has had numerous record deals and contracts throughout his career. In 2012, he signed a five-year deal with Universal Music Group’s Republic Records which was followed by an extended deal in 2015. He also has an imprint label called XO which is distributed through Republic Records. Through his various record deals and contracts, The Weeknd has been able to accumulate a large sum of money.
Brand collaborations
The Weeknd has had numerous brand collaborations throughout his career. He was the face of Puma for two years and appeared in several campaigns for the company. He also collaborated with H&M to create a clothing collection in 2015 which was incredibly successful. He has since collaborated with brands such as Apple Music, Beats by Dre, and Marvel. These collaborations have helped The Weeknd to increase his net worth.
Business investments
The Weeknd has made several business investments throughout his career. In 2019, he purchased a stake in the Toronto Raptors, making him the first Canadian artist to own a piece of an NBA team. He also owns a stake in Aura Health, a cannabis company based in Canada. Other investments include his partnership with Nue Management, which is a music and entertainment management firm, as well as his stake in the Las Vegas Residency program.
Breaking Down The Weeknd’s Net Worth
Estimations of his earnings
The Weeknd has earned a large sum of money throughout his career. In 2017, he was estimated to have earned $92 million from his record deals, touring, merchandise sales, and brand collaborations. In 2020, Forbes estimated that The Weeknd had earned $170 million pre-tax over the past year due to his successful music releases.
Sources of income
The Weeknd has derived income from a variety of sources over the years. His major source of income comes from his music career. He earns money through record deals, touring, merchandise sales and brand collaborations. Additionally, he earns money through business investments such as his stake in the Toronto Raptors and Aura Health. He also earns money through endorsement deals with brands such as Puma and H&M.
Comparison to other artists in his genre
The Weeknd has been hugely successful since the start of his career and has become one of the most popular artists in modern music. His success is comparable to other R&B, soul and hip-hop artists such as Drake, Rihanna, Kendrick Lamar and Beyoncé. Like The Weeknd, these artists have achieved great commercial success with their music and have accumulated large sums of money.
The Weeknd’s Philanthropic Activities
Charitable donations
The Weeknd has donated to various charities and causes throughout his career. He has worked with organizations such as Make-A-Wish Foundation, Pencils of Promise, and Global Citizen to help those in need. In 2020, he donated $500,000 to the Black Lives Matter Global Network and also pledged $1 million towards the relief effort for the victims of the 2020 Beirut explosion.
Social causes he supports
The Weeknd is an advocate for many important social causes. In 2019, he launched his #TheWeekndGives campaign in order to spread awareness about mental health and suicide prevention. He has also partnered with organizations such as the NAACP Legal Defense Fund, Color of Change and Know Your Rights Camp to support racial justice initiatives. Additionally, he has donated to a number of healthcare organizations in response to the COVID-19 pandemic.
Impact of his philanthropy
The Weeknd has had a significant impact on philanthropy due to his generous donations and support of many social causes. His #TheWeekndGives campaign has raised awareness about mental health and suicide prevention, while also raising funds for charities such as Make-A-Wish Foundation, Pencils of Promise, and Global Citizen. His donations to the Black Lives Matter Global Network have helped to further the fight against racism and injustice. Additionally, his donations to healthcare organizations in response to the COVID-19 pandemic have helped to provide aid and relief to those affected by the pandemic.
Conclusion
Summary of The Weeknd’s net worth and success
The Weeknd has achieved great success in his career and has accumulated a vast fortune. He has earned money through record deals, touring, merchandise sales and brand collaborations. Additionally, he earns money from business investments such as his stake in the Toronto Raptors and Aura Health. In 2020, Forbes estimated that The Weeknd had earned $170 million pre-tax over the past year due to his successful music releases.
Final thoughts on his career and future prospects
The Weeknd has achieved a great deal of success in his career and has become one of the most successful artists in modern music. His wealth is expected to continue to grow as he continues to release new music and expand his brand collaborations. Additionally, his philanthropic endeavors have had a positive impact on many social causes around the world. The Weeknd’s future prospects look bright and it seems certain that he will continue to be a successful and influential artist in the years to come.
Overall impression of The Weeknd’s legacy
The Weeknd has established himself as one of the most successful and influential artists in modern music. His commercial success is unparalleled, with his albums and singles consistently topping the charts. He has also had a significant impact on philanthropy due to his generous donations and support of many important social causes. His #TheWeekndGives campaign, for example, has raised awareness about mental health and suicide prevention. Ultimately, The Weeknd will be remembered for his musical success and his positive impact on society through philanthropy and advocacy.
