The Hip Hop group, Migos became major fixtures in the American music industry when they had the viral hit, Bad and Boujee. They have been the leading name in the new generation of rap music, trap music since they broke onto the scene. As a result, with each new viral track, video or album, the combined net worth of Migos’ members has grown and they have become one of the most valuable groups in music today.
Migos is made up of Takeoff, Quavo and Offset, all of whom are rappers from Atlanta. Aside from their connections as rappers, they are also family members, which deepens their financial success as more than a professional one, but also a family one.
Check out the net worth of Migos below, including the individual net worth of each member.
Migos’ Combined Net Worth
Migos, as a group, is estimated to be worth $50 million. The impressive net worth has been built due to their recent rise in hip hop as one of its most-followed acts.
The group, which was formed in 2008 has released four albums with two of them debuting at the top of the US Billboard 200.
Their singles like Walk It Talk It, Look at My Dab, Stir Fry, and Fight Night are some of the most popular songs in modern hip hop, with a number of them debuting on the Billboard Hot 100 and some peaking at number one, like Bad and Boujee.
The individual net worths of the members of Migos also contribute to its net worth and each member of the group is estimated to be worth $16 million.
How Did Migos Make Their Combined Net Worth?
When it comes to how Migos makes their money and built their impressive net worth, it all comes down to the undisputed fact of the music business – if you make popular music, you will make money; and since they came onto the scene, Migos has been making a lot of popular music and have been rewarded with wads of cash for it.
Migos’ first commercial success was the single, Versace, which was released in 2013 and peaked at number 99 on the US Billboard Hot 100. Their career has been on a steady climb ever since.
They released their first album, Yung Rich Nation in 2015, selling 18,000 units in its first week and debuting at number 17 on the Billboard 200. The album’s commercial success and the increased exposure it gave the group expanded their revenue stream and by 2015, they were making an estimated $40,000 per show, which increased to $60,000 when they left the label, 300 Entertainment.
Since 2015, Migos has only grown in music popularity and so has their net worth as they continued to release more popular music, both albums, and singles.
The group has released three albums, all of which have been commercial successes. Through a combination of earnings from shows, single and album sales, they have seen a rise in their yearly revenue. From $267,000 in 2011 to $4.3 million in 2016; and between 2017 and 2018, the group made $25 million in revenue.
As of 2018, Migos’ combined net worth has been fueled by their revenue per show which is $150,000 and it is estimated that they perform at over 90 shows per year.
Aside from the money the group makes from music, its members also make money through endorsement deals and appearance fees at clubs and events. One of the endorsement deals through which members of the group earn money is with Finish Line, an athletic apparel line.
How Do They Spend Their Money?
Like a lot of rich personalities in show business, Migos spend their money on luxurious items, ranging from cars to mansions to jewelry.
Members of the group own mansions in Atlanta, their city, while they rent million-dollar properties in Beverly Hills. They also own a fleet of luxurious cars from McLaren 650s to Bentley, Rolls Royce, Mercedes, Ferraris, and Lamborghinis.
They have a vast number of expensive pieces of jewelry, some of which have become a part of their identity, including the signature Migos chains.
Another significant way Migos has spent a part of their combined net worth is buying a house for Takeoff’s mother and gifting her a car of her own. She is credited for raising all three of them in Atlanta.