Akon's Net Worth (Updated September 2022) | Wealthy Gorilla

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• Introduction
• Earnings History
• Upfront Megatainment Lawsuit
• Real Estate

Introduction

Akon is an American professional songwriter, singer, record producer, and actor with an estimated net worth of $60 Million.

Since then, Akon has also founded two successful record labels, Konvict Muzik and Kon Live Distribution. His second album, Konvicted, received three Grammy Award nominations in two categories.

Quick Facts

• Earned an estimated $66 million between 2008 and 2011
• Peak annual earnings of $21 million in 2010
• Sold over 20.5 million records in the United States

Earnings History

Year	Earnings
2008	$12,000,000
2009	$20,000,000
2010	$21,000,000
2011	$13,000,000
Total	$66,000,000

In 2008, Akon reportedly earned $12 million from all endeavors, primarily from continued sales of his 2006 album, Konvicted, and the subsequent tour between 2007 and 2008. This was also the year in which he released some of his most popular singles, including “Right Now (Na Na Na)” and “I’m So Paid”.

In 2009, his earnings almost doubled to $20 million, the year in which he teamed up with T-Pain for the Konvict Muzik Tour. During the peak years of Akon’s career, he grossed an average of $230,000 per show. Similarly, in 2010, he earned $21 million, reportedly the highest-earning year of his career.

In 2011, his earnings dropped to $13 million, primarily due to significantly lower sales of his additional albums. This brought his total earnings between 2008 and 2011 to an estimated $66 million.

Upfront Megatainment Lawsuit

In October 2017, Upfront Megatainment, Inc. filed a $150 million breach-of-contract lawsuit against Akon in New York courts. According to the legal proceedings, the company had signed a contract with Akon to provide him with artist, brand, and promotional services. In exchange, Upfront Megatainment would receive a share of the artist’s profits.

The lawsuit alleged that Akon created new companies and redirected his paychecks into them, so UM could not see exactly how much revenue he was generating. Thus, his perceived profit, and therefore the amount owed to Upfront Megatainment, would have been lowered.

A year after the initial filing, the lawsuit was settled, with Akon agreeing to pay a $3.25 million settlement over four years, averaging approximately $812,500 per year. He was also required to pay UM a 20% royalty on net profits from his older catalog for a maximum of four album cycles while signed with a major record label. Akon defaulted on the fourth and final payment of $750,000, after which Upfront Megatainment filed another lawsuit against him to secure the balance and the royalty payments.

Real Estate

In March 2007, Akon paid $2.685 million for a 14,994-square-foot, six-bedroom, eight-bathroom mansion in Sandy Springs, Georgia. The property, originally built in 1990, spans 13.29 acres. It’s worth noting that the rapper purchased the property just before the 2008 financial crisis, which likely significantly affected the home’s value.

In May 2016, Akon returned the property to the market, seeking just $2.6 million. Towards the end of the year, the home was pending sale at the asking price, but closed for just $1.7 million. Given that the property taxes cost Akon roughly $50,000 per year, he may have lost nearly $1.4 million on the investment.