Highlights
- Drake made a smart business decision by purchasing his Yolo Estate, as he made $12 million when he sold it in 2022.
- Drake may have spent too much on his house in Beverly Hills, as he listed it for $88 million but it may take a long time to find a buyer.
- Drake’s massive net worth of $250 million allows him to afford any home he wants, and he has added many properties to his real estate portfolio.
Drake has made a name for himself in the rap music industry with singles like “Nice for What” and “Hotline Bling.” He’s also known for having more than one incredible home. According to The Richest, Drake has owned several houses in Toronto and Beverly Hills over the course of his music career.
While Drake isn’t the only wealthy celebrity to drop millions of dollars on real estate, the fact that he has kept a place in his hometown of Toronto, Ontario proves how much he cares about the city. When he was younger, Drake even starred on Degrassi: The Next Generation, one of the spin-offs of the popular Canadian teen drama franchise. But even stars who have a massive net worth can spend too much money on properties. Here’s whether Drake lost money on any of the amazing homes that he bought.
Did Drake Spend Too Much Money On His Houses?
According to Rethinkingthefuture.com, Drake bought the first home that makes up his Yolo Estate in 2012. It is absolutely massive at 12,500 square feet.
Drake’s Yolo Estate:
- made up of three Hidden Hills, California houses
- each home purchased for $3 million, $4.5 million, and $7.7 million
While Drake did spend millions on his Yolo Estate, he made a lot of money, making this a smart business decision. The Sun reported that Drake made $12 million when he put the house on the market in 2022. Since he spent $7.7 million when he purchased the house, that worked out well for him.
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That wasn’t the only California home that the rapper bought, though. According to Fortune.com, Drake bought a house in Beverly Hills in 2022. But although he added to his California real estate portfolio, he didn’t want to keep the property for very long.
It’s possible to say that Drake spent too much money on his house in Beverly Hills. As of the time of this writing, there is no confirmation that he sold this house, and it’s unclear if he will make back any money that he put into it. According to House Beautiful, the rapper listed his California home for $88 million in the spring of 2023. House Beautiful reported that Drake spent $75 million on the house. If it takes him a long time to find a buyer, then he is out quite a lot of cash.
As Yahoo! Finance reported in July 2023, the 2023 housing market is “down,” which could be why Drake doesn’t appear to have sold this home just yet.
What Is Drake’s Beverly Hills House Like? (According to House Beautiful)
- 860,000 square feet
- a game room
- a pool house and a pool
- an orchard
- a pizza oven
- a tennis court
- two different islands in the kitchen
As for whether Drake spent too much on his house in Toronto, the answer is a bit more complicated. According to CNN, Drake spent $6.7 million on a home in Park Lane Circle so he could tear it down and build a new one. As The Sun reported, the house is 50,000 square feet and valued at $100 million.
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Toronto’s real estate market has been strong for a long time and houses often sell for at least $1 million or $2 million. However, it’s fair to say that there are few homes that are worth $100 million in Toronto. If Drake ever put this home on the market, it might take a while to find a buyer willing to spend that kind of cash (or who could afford it at all).
It’s possible that Drake will keep his Toronto home since he loves the place where he grew up. According to CBC.ca, Drake was interviewed about Toronto by W magazine in 2015. Based on his comments, even though he has bought property in California over the years, he always wants to have a homebase in Toronto. Drake will also likely keep this home in Toronto because he put so much work and money into it.
Drake told W magazine:
“Most people I know stay in Toronto. I plan to spend the rest of my life there. The talk, the smell, the sound that comes out of that city is home to me. When I think about the girls I want to get romantic with, it’s a girl from Toronto who knows what I’m talking about when we drive around the city.”
What Is Drake’s Net Worth?
It’s possible to say that money is no object for Drake, who has a net worth of $250 million, according to Celebrity Net Worth.
Celebrity Net Worth reported that Drake made $75 million from June 2018 to June 2019. He then made $50 million from June 2019 to 2020. Before that, he still made a ton of money. He made $95 million in 2017 and $45 million from June 2017 to June 2018.
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Thanks to his massive net worth, Drake can absolutely afford any home that he wants to buy, and it makes sense that he has added so many properties to his real estate portfolio.
In fact, the rapper could have spent even more money on a house in Hills, California.
What Is Drake’s Toronto Home Like? (According to Architectural Digest)
- called “The Embassy”
- has a recording studio
- includes a 4,000 pound black marble bathtub
- the master bedroom is 3,200-square feet
According to a search on Sotheby’s Realty’s website in late December 2023, the houses in Hidden Hills, California are definitely pricey. Some cost even more than Drake’s estate. There are current listings ranging in price from $24,995,000 to $36,895,000. While Drake spent $7.7 million on his Hidden Hills place and that’s definitely a lot of money, he could have spent even more.
Drake made another big real estate purchase in the fall of 2023. According to CTV News, he shared with fans who attended his concert in Houston, Texas that he had just purchased a house there.
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