This Chicago-based rapper is arguably one of the biggest hip-hop acts of this era. Chance the Rapper’s net worth has surprisingly placed him among veteran rappers such as P. Diddy, Jay-Z and Drake on the list of the world’s richest hip-hop artists. An unconventional artist whose wealth has significantly grown since the release of his first mixtape in 2012, Chance has broken many barriers and may soon run out of options. In case you still doubt the power of the internet and virtual platforms, the Grammy-winning rapper’s fortune should be a pointer to the obvious. Here’s how much he’s worth and how he made his fortune.
What Is Chance the Rapper’s Net Worth?
A Chicago native raised in Chatham, Chancellor Jonathan Bennet garnered a lot of attention in 2012 after he uploaded his first mixtape. Despite being one of the biggest hip-hop artists of this time, it is interesting to know that Chance does not have a record label backing him, nor does he seem interested in selling his music.
The rapper who calls his albums mixtapes is of the belief that pegging a price on his music ultimately inhibits and limits his connection to fans. Though Chance is yet to sell any physical album, the numbers don’t lie. Music pundits have devised a standard to measure his musical success commercially by quantifying his mixtape downloads as regular album sales. Chance the Rapper’s net worth is currently estimated at $33 million, a fortune he accumulated from his music career in less than a decade.
How Chance Made a Fortune From Rap Music
Since fans of the Grammy Award-winning singer get his music for free, it is clear that Chance profits minimally from this channel. Interestingly, the rapper who has never sold a physical album is a recipient of three 2017 Grammy Awards, one of which is the Best Rap Album. Wondering how Chance built a massive cult-following and a huge fortune? Here’s the deal…
The Chicago native who prefers to make his money via the internet has proven that an artist can become popular and also commercially successful through streaming services. But basically, fans get to listen to his music by streaming for free via SoundCloud, Spotify, and Apple Music.
Chance the Rapper made his career debut with the song Windows. Eight months later, he dropped his first mixtape 10 Day in April 2012. The album earned him the needed attention in the hip-hop world with thousands of downloads on various virtual music-sharing platforms. Chance the Rapper has so far released three mixtapes namely: 10 Day (2012), Acid Rap (2013) and the critically acclaimed Coloring Book (2016). He eventually dropped his first studio album The Big Day in mid-2019.
While Chance did not profit from downloads on the first two albums which were released free of charge, he made regular album sales from the third. When converted, Coloring Book‘s downloads earned Chance the equivalent of over 500,000 album sales.
Chance the Rapper’s net worth can also be credited to his collaborative efforts with other rap stars. In addition to his personal talent and hard work, Chance’s profile has also been boosted in the industry following his work with rappers such as Childish Gambino, Kanye West, and 2 Chainz. Specifically, he has worked with Gambino on at least two of his songs and takes credits in five songs on Kanye West’s 2016 album The Life of Pablo.
In his early career days, Chance the Rapper could categorically be described as a secular artist but he has become more of a spiritual man in recent years. In 2015, he joined a band of Chicago-based musicians called Donnie Trumpet & The Social Experiment to produce an album, Surf. Moreover, following the release of 2016’s Coloring Book, Chance now likes to think of himself more as a gospel rapper.
The Grammy Award winner has also earned his wealth from touring and selling merchandise. Chance believes in proper execution for unconventional methods and so far, the numbers apparently support his theory.
Chance the Rapper’s net worth was also accumulated from several lucrative ambassadorial deals. Banking on his fame in the music industry, the rapper has partnered with top brands such as Apple, H&M, KitKat, Nike, and even the Chicago White Sox for various ad campaigns.
Though best known as a musician, the rap star has been able to penetrate the movie industry. Chance the Rapper’s net worth is also a resultant effect of his acting talents. Some of his screen credits include short films; Clapping for the Wrong Reasons (2013) and Mr. Happy (2015). He featured in the films Slice (2018), The Lion King (2019), and Between Two Ferns: The Movie (2019). Chance also has behind the scenes credits in 2019’s Steven Universe: The Movie and lent his voice in Trolls World Tour (2020).
See Also: Drake’s Net Worth: How Much Does He Make in Record Deals and Concerts?
How Does Chance the Rapper Spend His Wealth?
Chance the Rapper has tried to be discreet about his spending habits, he is known to be a humble star who has stayed true to his roots. Though the rapper is rarely seen at expensive restaurants and clubs, he is presumed to live a lifestyle befitting of his status. Chance’s most known luxurious expense may be his downtown Chicago two-bedroom home which he purchased for $3.7 million.
Away from work, Chance loves to spend time at home with his longtime sweetheart Kirsten Corley whom he married in 2019 and their daughters, Kensli and Marli. In one of his songs, the rapper reiterated the fact that money cannot buy anyone spiritual peace nor good parenting skills. Besides his Chicago downtown property, Chance the Rapper also has several investments in real estate. In addition to that, he has an impressive collection of expensive cars that includes a Rolls Royce, Lamborghini and much more.
However, Chance the Rapper’s spending habits mostly make the news following his passion for philanthropy. He has given back to the community in several ways. Besides his non-profit organization called Social Works, the rapper has donated millions of dollars to Chicago public schools and other charities. In addition to fighting against social ills such as police brutality, homelessness, and gun violence, he is also known to be politically active.