How much is L.A. Reid's net worth today

Publish date: 2024-05-04

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L.A. Reid is a music executive and producer with a $300 million net worth. L.A. Reid is best known as the creator of Hitco Entertainment, Hitco Music Publishing, and LaFace Records, which he co-founded with Kenneth “Babyface” Edmonds. He has served as chairman and CEO of corporations such as Epic Records and The Island Def Jam Music Group for many years. L.A. Reid is one of the last of a fading breed of executives.

Who is L.A. Reid?

L.A. Reid, birthed as Antonio Marquis Reid was born on June 7, 1956, in Cincinnati, Ohio. He was a music fanatic since he was a boy, listening to James Brown, Sly Stone, and Led Zeppelin. Reid was noted in his youth for converting virtually anything into a drum set—pots, pans, and whatever else would do. Cincinnati, with its own rich musical traditions, also had an important role in his musical growth. Reid was playing drums in a band in his teens, honing his skills in front of small crowds. Reid’s notoriety and persona were enhanced by his selective taste in luxury clothing, inspiring his friends to dub him “L.A.”

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How much does L.A. Reid make annually?

Reid’s annual salary is not available. However, he is alleged to be worth about $300 million.

How many businesses does L.A. Reid own?

Reid is a record executive, A&R representative, and record producer from the United States. He founded Hitco Entertainment and served as its co-chairman. He previously held the positions of chairman and CEO of Epic Records and The Island Def Jam Music Group, as well as president and CEO of Arista Records.

He began his career as a drummer for the Ohio R&B bands Pure Essence in 1973 and The Deele (with future business partner Babyface) in 1981. Reid has also worked as a record producer, programmer, and instrumentalist for a number of recording artists. In 1996, he co-founded Hitco Music Publishing and LaFace Records with production partner Kenneth “Babyface” Edmonds.

How many Investments does L.A. Reid have?

Reid is actively involved in real estate investments

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L.A. Reid spent $9.43 million for a Manhattan condominium at 515 Park Avenue in 2000. Reid’s 5,000-square-foot unit is on the 10th floor of the 36-unit complex. Reid put the unit for sale in 2013 for $18.9 million.

In January 2014, he took $16.5 million. The property has six bedrooms, seven bathrooms, and five half bathrooms, as well as a spacious open-plan living room/dining room with high ceilings and floor-to-ceiling windows. The kitchen has cutting-edge gadgets and Caesar stone surfaces. The lobby, which also serves as a gallery, is accessible via one of three private lifts. In 2013, the monthly HOA charge was $14,000!

Reid paid $18 million for a big mansion on one acre in Bel Air, Los Angeles, in 2016. He listed this home for $22.9 million in 2019 and again in April 2022 for $22 million. He reduced the price to $18 million in October 2022.

How many Endorsement deals has L.A. Reid?

The renowned entertainment legend has lucrative deals with a couple of brands and companies

How many Philanthropy works has L.A. Reid supported?

Reid was recognized in 2006 at the Art for Life Palm Beach gala organized by Russel Simmons for his humanitarian efforts to provide arts programs to ghetto youngsters. He also got the UJA-Federation of New York’s Music Visionary Award that year.

He has also worked on the Taste of Hope event for the City of Hope and the Robin Hood Foundation. Reid wrote and co-produced the song “Just Stand Up” for the Stand Up To Cancer television special in 2008, which was performed by artists such as Mariah Carey, Beyonce, Mary J. Blige, Rihanna, Fergie, Sheryl Crow, Miley Cyrus, Melissa Etheridge, Ashanti, Natasha Bedingfield, Keyshia Cole, Ciara, Leona Lewis, LeAnn Rimes, and Carrie Underwood.

The proceeds from the single’s sales were donated to the show’s eponymous organization. Reid earned UNICEF’s Spirit of Compassion Award in 2009.

Source: www.ghgossip.com

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