Chance the Rapper’s Net Worth: The Surprising Way He Makes His Money and How He Stays Humble
Chance the Rapper’s success has only skyrocketed since he stepped onto the music scene. And yet, he’s never sold a physical album. How does the Chicago native manage to make his money, all while staying humble and giving back to communities in need? Here’s everything we know.
His net worth is $33 million
According to Forbes, Chance’s net worth is a whopping $33 million. He may be one of the biggest hip-hop artists of the era, but this number still comes as a bit of a surprise. After all, he isn’t even signed to any record labels, on top of never having sold a physical album.
Instead, listeners can find his music on streaming services, such as Spotify, Apple Music, and SoundCloud — for free. He explained to Vanity Fair, “I never wanted to sell my music, because I thought putting a price on it put a limit on it and inhibited me from making a connection.”
While fans get his music for free, Chance profits minimally through their listens. According to The Verge, artists are paid out between $0.006 and $0.0084 for every stream on Spotify. Even with his millions upon millions of plays per month, it doesn’t exactly add up quickly. He did, however, earn $500,000 from Apple Music by working out a deal to give them first dibs to his critically acclaimed 2016 album, Coloring Book, for a few weeks.
Chance can likely credit his collaborations with other artists to his major success. By working with the likes of Kanye West, Childish Gambino, and 2 Chainz, he quickly earned respect as a rapper and was able to add to his earnings.
The surprising ways he makes most of his money
It’s not that he hasn’t seen any cash roll in from his music, but he found other routes to become worth millions. He makes most of his money by means of connecting with his fans, so it’s really a win-win for everyone involved.
He told Vanity Fair, “I make money from touring and selling merchandise, and I honestly believe if you put effort into something and you execute properly, you don’t necessarily have to go through the traditional ways.”
The numbers certainly support his theory. For example, on his Be Encouraged Tour, he earned $500,000 per night thanks to incredible ticket sales. In 2017, he began offering VIP packages to fans on tour. According to Heavy, those included “experiences such as a hand-paper-scissors tournament with Chance for $75 or selfies to be tweeted from his personal account for $250.”
In addition to earning from his live tours, Chance has teamed up with numerous companies for ad campaigns. From H&M to Nike to Kitkat, we began seeing his face everywhere. He even got involved in campaigns for Joe Fresh’s #ThankUObama clothing line. Considering his long history of supporting Barack and Michelle Obama, this collaboration was particularly meaningful.
Oh, and did we mention he’s a club ambassador for the Chicago White Sox? Heavy reported that he designed a line of limited-edition hats for the team, which sold out “within minutes.”
How he stays humble and gives back
No matter how much fame or money Chance has come into, he’s proven to stay true to his roots. Although he usually doesn’t flaunt his spending habits, NBC Chicago reported that he purchased his downtown Chicago home for $3.7 million.
Normally, if Chance’s spending makes headlines, it’s thanks to his charity donations. He’s committed to helping communities in need throughout Chicago, going so far as to found Social Works, a nonprofit organization. Their objective is “to empower youth through the arts, education, and civic engagement while fostering leadership, accessibility, and positivity within the youth throughout Chicago.”
Chance donated $1 million to the organization in 2017, and they’ve since raised $2.2 million for Chicago public schools.