Elliot Grainge, the 29-year-old music executive and founder of 10K Projects, has been making waves in the music industry in recent years. As of 2023, his net worth has been estimated to be around $10 billion, making him one of the youngest billionaires in the world.
From Bottle Service to Music Labels: Elliot Grainge’s Early Years
Elliot Grainge was born in Los Angeles, California, in 1993. He is the son of Sir Lucian Grainge, the chairman and CEO of Universal Music Group.
Growing up, Grainge was exposed to the music industry from a young age, as his father’s company was one of the largest music companies in the world. However, despite his family’s connections, he did not immediately pursue a career in the music industry.
After finishing his high school education, Grainge enrolled at Northeastern University in Boston, where he ran a business that promoted bottle service clubs catering to dance and hip-hop venues. After graduating from Northeastern with a bachelor’s degree, Grainge moved to Los Angeles, where his family lived.
Elliot’s Career: His Path to Building a Music Empire
After graduating from USC in 2016, Grainge decided to pursue a career in the music industry. He founded 10K Projects, an independent record label that focused on finding and developing new talent.
Grainge’s record label, 10K Projects, has inked deals with a number of popular musicians, including rappers Trippie Redd, Tekashi 6ix9ine, and Iann Dior, as well as the beach pop group Surfaces. Grainge has acknowledged that he discovered some of the artists on SoundCloud, which he referred to as a “cheat sheet” for uncovering new talent.
In October 2019, Grainge’s 10K Projects teamed up with music producer Taz Taylor’s creative collective, Internet Money Records, to form a joint venture. In June 2020, the two companies launched 10K Together, a charitable arm of 10K Projects that focuses on supporting racial justice charities and black-owned businesses. Additionally, in February 2022, Grainge’s label acquired the music label Homemade Projects.
His label has amassed 18 gold and eight platinum/multi-platinum singles, with Grainge earning a spot on Forbes’ 30 under 30 lists in 2020.
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Elliot Grainge’s Net Worth
Elliot Grainge’s net worth of $10 million has primarily been generated through his successful career in the music industry. He earns $2 million annually, and the majority of his income comes from his production company.
Under Grainge’s leadership, 10K Projects has become one of the fastest-growing independent record labels in the industry, with a reputation for identifying and nurturing new talent. The label has released numerous hit singles and albums, which have undoubtedly contributed to Grainge’s net worth.
A Peek into Elliot Grainge’s Personal Life
The media reported on Elliot Grainge’s engagement with Sofia Richie, a well-known social media personality and star who is the daughter of Lionel Richie.
Sofia Richie and Elliot Grainge have been discreet about their relationship, occasionally sharing selfies together on social media. However, they caused a stir when Sofia made their relationship official on Instagram in April 2021. The news of their romance was unexpected, especially given that Sofia had recently ended her on-again, off-again relationship of almost three years with Scott Disick in 2020.
In April 2022, Sofia took to Instagram to confirm her engagement with Elliot.
Looking ahead, it seems likely that Grainge’s net worth will continue to grow in the coming years. He has already achieved a great deal of success at a young age, and his talents and business acumen show no signs of slowing down. As the music industry continues to evolve and change, Grainge will undoubtedly be at the forefront, helping to shape the future of the industry and the careers of the next generation of musicians.