What Is Post Malone's Net Worth? 10 Things He Spends His Money On
The musician has made quite the name for himself.
Getty Post Malone recorded his debut song two days after he wrote it and almost instantly became a household name (or at least his stage name did). We know he's seen huge success, but what is Post Malone's net worth?
“White Iverson” was released in August 2015 and it received a massive amount of views and praise from other artists. The single hit one million views within a month of its release and Post caught the attention of several record labels. Later the same month, he landed a record deal with Republic Records.
So how did Post Malone, otherwise known as Austin Richard Post born on July 4, 1995, in Syracuse New York, go from high school student to Hollywood singer-songwriter?
Post Malone got into music in growing up and in high school and he started writing and sharing his songs to Soundcloud which made him gain attention and after moving to Los Angeles when he was 18, he became famous overnight for his song White Iverson. Two months after that he followed with a second hit single, Too Young, which then got him a recording contract with Republic Records which he signed, and the rest is history.
What is Post Malone’s net worth?
According to Forbes, Post Malone earned up to $60 million in 2020. His net worth is estimated to be around $14 - $15 million, while others report it to be as high as $30 million.
Since he writes his own songs, he is entitled to the majority of his royalties. Forbes reports that the rapper makes about $500,000 for every concert performance. He even has his music festival, Posty Fest, which began in 2018.
Post Malone makes an average of about 6000 dollars a day from his music, earning him about 2.2 million per year.
Post Malone sort of gave us an insight into how he feels about having money in his newest album Hollywood Is Bleeding, as according to The Rolling Stone, it's all about, "how celebrity jealousy is the root of all evil, and money is the only salve," and that throughout the album, "post can’t seem to decide whether his money and fame is insulation from the pain or its root cause."
What is net worth and how is it calculated?
Net worth is defined as "the value [of] the assets a person or corporation owns, minus the liabilities they owe.”
According to Investopedia, your net worth can be calculated by subtracting your debts from the dollar amount of your assets. If your liabilities exceed your assets, you will have a negative net worth, while you will have a positive net worth when your assets exceed your liabilities.
How Post Malone makes his money
Music streaming
How is Post-Malone so rich? It's simple: he's rich because of how many people stream and listen to his music!
In 2019, Post Malone was the most-played artist on Spotify, totaling over 6.5 billion Spotify streams worldwide. Songs from his third studio album, Hollywood’s Bleeding, cleared 100 million streams on the music streaming platform.
According to Rolling Stone, Post Malone’s 6.5 million streams made him about $28 million in less than a year.
In 2017, he beat Apple Music’s single-week streaming record with his single “Rockstar” featuring 21 Savage. The song had over 25 million streams, breaking the previous record-holder “I’m the One” by DJ Khaled. Before breaking Apple Music’s record, Post Malone’s debut album, Stoney, had over 1 billion streams and four platinum records.
When his second studio album, Beerbongs and Bentleys, was released in 2018, he earned the largest sales week of that year to date and the most streams ever in a week. His album moved 461,000 units, along with 153,000 in traditional, and it had about 431 million plays on streaming services.
He has also collaborated with famous artists like Justin Bieber and Kayne West, gaining him more popularity and fame.
It didn’t end there — out of the 10 most streamed songs, eight came from Post Malone’s Beerbongs and Bentleys, which got him his first Grammy nomination. His debut album even jumped into the top 10 with 40 million streams of its own.
In 2020, he was nominated once again for album of the year with Hollywood Is Bleeding and song of the year and record of the year with the song Circles.
Brand partnerships
Post Malone famously partnered with Bud Light in 2018. The ad for the partnership launched after it was announced that Post Malone would be performing for Bud Light’s Dive Bar Tour.
Bud Light team up with the musician again a year later with a fashion line, which included a jacket, t-shirts, jeans, hoodies, and sweatpants. The clothing had lyrics of Post Malone’s latest album, Hollywood’s Bleeding, on them. Malone and his creative team designed the clothing, which went on sale exclusively on the rapper’s website.
Earlier this year, Malone teamed up with HyperX, the gaming division of Kingston Technology Company, and spent an evening gaming with fans on the company’s Twitch channel. The event was the first of a streaming series where different guests would virtually connect with their fans while playing popular games.
Malone also hosted sweepstakes with True Religion Brand Jeans in 2018. The clothing company was giving away tickets to the sold-out Posty Fest in Dallas.
Post Malone also has his own wine brand called Maison No. 9.
How does Post Malone spend his money?
It's always interesting to learn where celebrities drop their literal millions of dollars. Sometimes, their purchases are totally off-the-wall — and that's definitely the case for Post Malone.
For example, at the start of the pandemic, Post Malone was celebrating in Miami for the 2020 Super Bowl weekend and was feeling very generous as he went to a club to party and had the staff carry boxes of money to his section of the club. He then started giving 50,000 dollars worth in cash away to random people inside the club.
So what else does Post Malone buy with his money?
1. Cars
First things first, he spends his millions on custom cars.
2. Guns
He also spends his money on firearms. He tends to go to ranges to shoot or even cross state lines to treat his fix. He got into some hot water when he drove around Las Vegas with a machine gun attached to his SUV soon after the Las Vegas concert shooting in 2017.
3. Music Videos
Music videos are something that a lot of people don't think about how much money goes into them. The record labels don’t always foot the bill. Sometimes the visuals are extremely extravagant, like the video for his song “Rockstar."
4. Jewelry
One of the more ridiculous things he spent his money on was a 50,000 dollar Dallas Cowboys custom chain, from Angel City Jewelers in Los Angeles that he purchased in December of 2020 because he is a die-hard fan as his father worked as a manager of the concessions for the Dallas Cowboys.
5. Clothes
His wardrobe is also off the charts. He doesn’t typically shop within the United States and tends to shop from outside of the country for his fashion.
Sometimes, you couldn’t tell that buys extremely expensive fashion from all over the world because his style is so erratic. In one instance, he could be wearing a pair of shorts and a plaid shirt and in another instance, he could be wearing a tailored suit.
6. Food
A funny thing that he spends his money on was Popeye’s Chicken. One time, he was performing at Coachella and he knew that his fans were waiting for him. He ended up buying all of his fans a Popeye’s biscuit. The bill ended up being $8,000.
7. His parents
Malone also reportedly gives back to his dad. He buys him shoes, clothes, Christmas gifts, and probably foots the bill for his birthday parties.
8. A 'Beerbong Manager'
Malone has a Beer Bong Manager. It’s not an actual thing because it’s just his friend who he pays a thousand dollars a day for cleaning his beerbongs around the house.
9. Tattoos
The rapper is known for his tattoos, especially his face tattoos. He spends his money on getting inked with a wide variety of things from the Playboy Bunny logo to a portrait of Johnny Cash to the names of fallen musicians.
10. Good causes
Even though he spends money on other things and maybe his family, he has also previously donated and helped raise money for a number of different causes.
In April of 2020, he hosted his own Nirvana Tribute concert live stream to sing covers of Nirvana songs to raise money for the United Nations Foundation’s COVID-19 Solidarity Response Fund for the World Health Organisation, which raised over 500,000 dollars.
After that, Post Malone donated money to a range of causes including coronavirus relief, education, homelessness, hunger, mental health, veterans, and more after asking his fans on social media where he should make a monetary donation in April of 2020.
Chinyere Ibeh is a writer who covers entertainment and pop culture news and astrology.