The Weeknd, born Abel Makkonen Tesfaye, is a Canadian singer, songwriter, and record producer who has risen to global fame and amassed a massive fortune through his raw talent, hard work, and strategic business moves. In this article, we will take an in-depth look at The Weeknd’s net worth, how he built his wealth, and the different factors that have contributed to his financial success.
I. Early Life and Career Beginnings
The Weeknd was born on February 16, 1990, in Toronto, Canada, to Ethiopian immigrant parents. He grew up in Scarborough, a neighborhood known for its poverty and crime rates, and was raised by his grandmother and mother after his father left the family when he was just a toddler. The Weeknd’s childhood experiences have heavily influenced his music, which often deals with themes of drugs, sex, and violence.
The Weeknd’s music career began in 2010 when he anonymously uploaded several songs to YouTube under the name “The Weeknd.” He later released three critically acclaimed mixtapes, “House of Balloons,” “Thursday,” and “Echoes of Silence,” which gained him a cult following and caught the attention of major record labels.
II. Breakthrough Success
The Weeknd’s breakthrough success came with the release of his debut album, “Kiss Land,” in 2013. The album debuted at number two on the Billboard 200 chart and sold over 273,000 copies in its first week. However, it wasn’t until the release of his next album, “Beauty Behind the Madness,” in 2015 that The Weeknd became a household name.
“Beauty Behind the Madness” was a commercial and critical success, debuting at number one on the Billboard 200 and spawning hit singles such as “Can’t Feel My Face” and “The Hills.” The album has since been certified 3x platinum in the United States and has sold over 5 million copies worldwide.
III. Continued Success and Earnings
Since the success of “Beauty Behind the Madness,” The Weeknd has continued to release hit albums and singles, including “Starboy” (2016) and “After Hours” (2020). His music has earned him numerous awards, including three Grammy Awards, nine Billboard Music Awards, and two American Music Awards.
The Weeknd’s earnings primarily come from album sales, tours, and merchandise sales. His “Starboy: Legend of the Fall” tour, which ran from February to December 2017, grossed over $100 million and was one of the highest-grossing tours of that year. In addition, The Weeknd has lucrative endorsement deals with companies such as Puma, H&M, and Marvel.
IV. Investments and Business Ventures
The Weeknd has also made strategic investments and business ventures to diversify his income streams and grow his wealth. In 2018, he invested in the esports company OverActive Media and became a co-owner of the Toronto-based team, Toronto Ultra, which competes in the Call of Duty League.
In addition, The Weeknd has partnered with companies such as Marvel, Bape, and H&M to release limited-edition clothing collections. He also launched his own merchandise line, XO, which sells clothing, accessories, and other items.
V. The Weeknd’s Assets and Expenses
The Weeknd’s massive wealth has allowed him to indulge in a lavish lifestyle and purchase expensive assets, including several properties, luxury cars, and private jets. He reportedly owns a $21 million mansion in Hidden Hills, California, as well as a penthouse in Beverly Hills.
The Weeknd’s annual expenses are also substantial, with reports estimating his monthly spending to be around $250,000. This includes expenses such as his $20,000 monthly rent for a luxurious apartment in New York City, private jet rentals for his tours, and his collection of luxury cars, which includes a Lamborghini Aventador and a McLaren P1.
VI. Charitable Contributions and Philanthropy
Despite his lavish lifestyle, The Weeknd has also made significant contributions to charitable causes and philanthropic efforts. In 2018, he donated $100,000 to the Suubi Health Center in Uganda to help fund a maternity ward and provide medical equipment and supplies.
He has also been actively involved in social justice issues, including donating $500,000 to support Black Lives Matter initiatives in the wake of George Floyd’s death in 2020. In addition, he has established the Black Hxouse, a creative agency that supports and empowers Black artists.
VII. Conclusion
The Weeknd’s net worth is estimated to be around $100 million, making him one of the wealthiest musicians in the world. His success can be attributed to his raw talent, hard work, and strategic business moves, including diversifying his income streams through investments and business ventures.
Despite his immense wealth, The Weeknd has also shown a commitment to giving back to his community and supporting charitable causes. His impact on the music industry and society as a whole is undeniable, and he continues to push boundaries and inspire fans around the world with his music and philanthropic efforts.
