We have summarized several aspects of Stevie Wonder’s life including his wealth, family, age, and biography. Singer and songwriter Stevie Wonder has a large fan base. He’s made it big in the entertainment business in the United States. In the world of music, Stevie is a household name. Discover the amazing achievements and wealth of Stevie Wonder.
Stevie Wonder Net Worth
The estimated net worth of Stevie Wonder, an American musician, singer, songwriter, and record producer, is $200 million. Wonder is widely regarded as a musical genius due to his abilities as a multi-instrumentalist, composer, and lyricist.
At the tender age of 11, Stevie Wonder was recruited by Motown Records. Among his 30 number-one singles are “Superstition,” “Isn’t She Lovely,” and “I Just Called to Say I Love You.”
Wonder Was Guaranteed 14% of the Royalties From His Music
At age 11, Stevie was signed to Motown’s Talma label. Motown recognized Stevie’s potential and signed him to a five-year deal with royalties going to a trust fund because of his age. Stevie was only allowed to assume control of his trust fund once he became 21 years old, under the terms of the contract.
However, despite this, he and his mother continued to get $2.50 weekly. Given the passage of time and inflation, that is equivalent to about $21 in today’s money. For a kid of only 11 years of age, that’s very impressive. Wonder turned 21 years old that year.
Stevie’s ten years’ worth of music royalties arrived on his already enjoyable birthday, making it much more satisfying.
Wonder was now savvy enough to negotiate better terms for his contracts. Wonder turned down offers from CBS and Atlantic Records to re-sign with Motown, and he was careful to protect his financial interests.
Over the course of the contract’s three years, he also guaranteed himself 14% of the royalties. This time around, he got paid out a lot of money, and he cashed in a $1 million fund he had been holding. In a similar vein, Wonder made sure he had complete creative and financial control over his own music. Similarly, he negotiated a $13 million deal with the label in 1976 after the initial contract ended.
Stevie improved his negotiating skills even further, increasing his royalty payout from 15% to 20%.
All the bells and whistles were included in the contract, such as Wonder’s freedom to release his own singles and collaborate with musicians from whatever record company he pleased.
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Stevie Wonder Buys $14 Million Mansion from Saudi Royal
Wonder paid $2.407 million in 2009 for a Mediterranean-style mansion in Los Angeles’s Los Feliz district. The mansion spans 4,511 square feet. After living there for four years, he decided to sell it for $8.199 million.
Stevie spent $14 million in December 2021 on a 20,000-square-foot mansion in the Bel Air area of Los Angeles. A member of the Saudi royal family was the seller.
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