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Tory Lanez is one of Canada’s biggest hip-hop and R&B talents. He has amassed his wealth through 14 years in the hip-hop game. However, in 2022 he ran into serious legal troubles, which put a dent in his fortune.
In the article below, learn all about Tory Lanez’s net worth, income, lifestyle, and legal battles.
What is Tory Lanez’s Worth in 2023?
Torey Lanez’s net worth in 2023 is most widely reported as $4 million. There is some debate about the figure, though, with different sources estimating between $2 million and $8 million.
How Did Tory Lanez Get Rich?
Tory Lanez made his money with his voice, work ethic, and entrepreneurial skills
The rapper released seven studio albums between 2016 and 2022, all of which hit the top 10 on the album charts in Canada and the US.
The only exception to this golden run was his 2021 album Alone at Prom, which peaked at 19 in Canada and 59 in the US.
Lanez brings the cash in with hit releases such as his first and fourth albums, I Told You and Chixtape 5, which both gained Gold certifications in the US. He also earns big bucks across the pond, with his third album Love Me Now gaining a Silver certification in the UK.
In terms of singles, he earns through successful features such as the x4 US Platinum “Whats Poppin” (Remix) by Jack Harlow, as well as numerous US top 50 singles as lead artist such as “Say It,” “Luv”, “Talk to Me” and “Jerry Sprunger.”
Lanez keeps the revenue coming in with his substantial streaming figures as well, with his Spotify monthly listener count at the time of writing being over 20 million. His total streams on YouTube stand at 2.4 billion.
Adding to Lanez’s ability to bring in the dollars is the fact that he writes his own songs and pulls in the associated royalties. He’s the lead writer credit on all his songs except for the features.
On his early albums, as well as his most recent album, he wrote with numerous co-writers on each song.
However, on several late-career albums, such as Daystar and Alone at the Prom, he wrote many of the tracks himself, with only a smaller number of co-credits appearing.
This practice would substantially increase the royalties he draws from such releases.
This shift in how Lanez writes his music also coincided with his decision to become an independent artist.
Tory Lanez’s Record Label and Clothing Label
Tory Lanez’s net worth is assisted by many endeavors.
For example, he runs his own record label and clothing label, One Umbrella and Forever Umbrella, respectively. In 2018 One Umbrella signed its first artist, Mansa, and its current roster includes Davo, VVS Ken, Papi Yerr.
Lanez began releasing his own music on One Umbrella in 2020 as well, explaining:
“I waited and calculated for four years to be my own boss. I own all my own masters, publishing, royalties etc.
“This may not mean nothing to y’all but seeing my record label at the bottom unattached to a major label is what we have worked this hard for.”
Tory Lanez’s Cars
As you’d expect, Tory Lanez’s Instagram is packed with luxury cars, opulent estates, and designer clothes. About 1/5th of all his posts are dedicated to his luxury cars, so we get quite a look into this aspect of his life.
Tory Lanez’s car collection includes a black McLaren 720S, which he brought in April 2022 and calls his “baby.”
Lanez has also shown off a Rolls-Royce Cullinan in his garage, as well as a Lamborghini Urus and a Chevrolet C8 Corvette
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He’s spent a substantial amount of dollars on these cars, with the price tag on the McLaren being $310,500, while the Cullinan, Urus, and Stingray each cost $341,500, $229,495, and $71,800, respectively.
Note that the Stingray can cost as much as $118,000, depending on the version.
Tory Lanez’s House
As you’d expect, Tory Lanez’s net worth has helped him buy some pretty nice property. This is just as well, because after his recent legal troubles, he spent almost all of November 2022 under house arrest.
Some details of Tory Lanez’s property investments are known, as he paid $1.8 million for a three-bedroom corner penthouse condo on the 49th floor of Brickell Heights East in Miami.
The 2,182-square-foot penthouse has an extra large balcony and views of the city and Biscayne Bay throughout. The real estate listing at the time of the sale boasted of its “contemporary Italian cabinetry, imported stone countertops [and] floor-to-ceiling tinted glass walls.”
This outlay got the rapper into some trouble, though, as he was later faced with foreclosure on the property concerning a $1.26 million loan he took out from a company called BH 4908.
In a lawsuit, BH 4908 claimed that Tory had agreed to a mortgage with a payment of $10,517 each month and an additional large payment in December 2021. His salary has been reported as being more than $20,000 a month, so the huge figure shouldn’t have been a problem for him.
The company alleged that in December 2021, Lanez was living in the penthouse as the sole owner but failed to pay $1,237,456 on the loan plus interest. BH 4908 also sought permission to foreclose the home and sell it on the open market.
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The company later dropped the lawsuit, with media speculation being that Lanez had worked out a deal to settle up on the money owed.
It’s just as well he settled that case because his legal problems in relation to his 2020 shooting of Texas rapper Megan Thee Stallion are ongoing.
Tory Lanez Verdict in Megan Thee Stallion Case
Tory Lanez’s net worth may helped him snag a big penthouse, but he’s in the big house for real now.
At the time of writing, the rapper is in jail awaiting sentencing after being found guilty on three felony counts concerning the Megan Thee Stallion shooting case.
In July 2020, Stallion was shot twice in the foot after an argument broke out in an SUV in the Hollywood Hills. She later identified Lanez as the shooter, stating that he fired intending to harm her.
In December 2022, a Los Angeles jury found him guilty of assault with a semiautomatic handgun, discharging a firearm with gross negligence, and carrying an unregistered, loaded gun in a vehicle.
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Lanez faces more than 20 years in jail on the charges and deportation from the US. His sentencing is scheduled for January 27, but there isn’t any information about it online as of this writing.
While Lanez will still keep making money through his existing music and business ventures, his Instagram will probably get much less glamorous moving forward.
Was Tory Lanez Signed to Roc Nation?
Tory Lanez was never signed to Jay Z’s record label Roc Nation. Lanez released his music through Time is Money, Mad Love, and Interscope earlier in his career, and from 2020 onward, he began releasing his music through his label, One Umbrella.
The press and fans have made a connection between Roc Nation and Lanez’s legal case, though, as Megan Thee Stallion signed a management deal with Roc Nation in 2019 and is currently listed on their website as an artist.
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Public speculation was fueled when Lanez’s father, Sonstar Peterson, made wild accusations outside the courtroom after Lanez’s conviction in the Stallion case.
He called out to a crowd of onlookers, saying “I’m calling on the Heavens and the Earth… Roc Nation, you will crumble! I am an apostle of God, and I will be heard.”
Peterson further alleged that there was a “miscarriage of justice” in the trial and placed the blame on Roc Nation and Jay Z, and said they would “crumble” as a result.
While some fans are on board with this theory, and no doubt Jay Z’s reputation as a major industry figure plays into it, Peterson’s claims were nonetheless met with considerable skepticism by many.
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