|Net Worth:||$55 Million|
|Birthday:||Feb 29, 1960|
|Age:||61 years old|
|Height:||5.6 feet (170cm)|
|Occupation:||Chairman, Chief Executive|
|Last Updated:||September, 2021|
Lucian Grainge is a British investor who has spent his entire career life in the music business. He is the chairperson and chief executive officer of Universal Music Group, a global music corporation that is owned by French media conglomerate Vivendi and the Chinese technology company Tencent. Grainge has a net worth of $55 million and this represents his income, salary, properties, and value of other assets he has gained since the start of his career.
How Did Lucian Grainge Become Rich?
He was born on 29th February 1960 in London, United Kingdom, as the son of Cecil Grainge and Jeanette Grainge. Jeanette was the CEO of a bank, and Cecil had a record shop. Talking of Lucian’s career path, his parents had a massive positive impact on his career decisions. Grainge attended Queen Elizabeth’s Grammar School for Boys where his passion for music escalated because of the compulsory morning hymns in school.
As said before, his father had a record shop that catalyzed his enthusiasm in the music industry. Grainge left school in 1979 when he was 18 years. He didn’t advance his studies, instead, at that juncture, he assisted to negotiate a record deal and he earned £400 from the deal. He felt very comfortable about it. In 1979, Grainge got a lucrative job at April Blackwood Music in the A&R department. Later, he got a promotion to be the head of the creative department.
In 1982, Lucian Grainge was appointed to be the director of the RCA Music Publishing Group. He then became the director of A&R at MCA Records in 1984 before setting up PolyGram Music Publishing. In 1993, he became the general manager of A&R and business matters at Polydor, and in 1997 Polydor promoted him to be the managing director.
Lucian Grainge is a competent man. He gave his best in every opportunity given. For him, it was promotion after promotions. In 2001, UMG appointed him to be the deputy chairperson of Universal Music UK and later promoted him to the chairperson and chief executive director position in the British Phonographic Industry. He was also the co-chairperson of the British committee. The latter resulted in an upsurge in his salary, thus raising his standard of living.
In 2005, Lucian became the chairperson of the Universal Music Group International. He served as the chairperson until 2010 and in January 2011; UMG appointed him to be the chief executive officer of Universal Music Group.
Lucian is best known as an affluent person, and his exemplary contribution to Universal Music Group at his previous positions brought remarkable versatileness in the music industry. On 9th March 2011, the company appointed him again to be the chairperson of UMG serving two positions.
The increasing responsibilities in the positions Grainge held had financial benefits for him during his tenure. He earned even more incentives when he landed deals during his tenure. For instance, in his first year working as both CEO and chairperson, Universal Music Group got EMI’s Recorded Music operations. Grainge has also been on the lookout for international partnerships with big technology companies such as Facebook, Tencent, Spotify, Apple and YouTube. This escalated the valuation of Universal Music Group from $22 billion in 2017 to $50 billion by 2019. Because of his absolute hard work and love for the music industry, Grainge extended his term of service to 2020 first and later up to 2023. This decision had a wonderful impact on his net worth.
What Is Lucian Grainge Net Worth?
Lucian’s net worth entirely depends on his music career. Talking of music career, Grainge is not even a singer, songwriter, or instrumentalist, but he has made a substantial fortune from the music arena. He has worked with various music production companies and artists including Rihanna, Shawn Mendes, Sam Smith among many other.
Being someone who is driven by the power of hard work, enthusiasm, and dedication in every single opportunity comes his way. Grainge has attained the optimum of his success and game plan in the music industry.
In 2020, Lucian Grainge’s total compensation stands at $100,000 as an independent director at Lions Gate Entertainment Corp. This is way more compared to that of previous fiscal years; in 2019, he made a compensation amounting to $83,334, $69,467 in 2018, and $27,397 in 2017.
Grainge’s dedication and hard work caught the attention of the music industry. Since he has been doing well, he has attracted many awards and successful nominations. Grainge has received several awards; The Music Industry Trust Award, President’s Merit Award (Icon Award), The Spirit of Life Award among many awards. Tokens of appreciation accompanied some of these awards as gifts or money.
Grainge’s net worth has been increasing significantly over the years. His net worth is estimated in correlation to his money, salary, and assets, including cars, houses, and other properties he owns. In 2021, Grainge has an estimated net worth of $55 million.
How Lucian Grainge Spends His Money?
Lucian does not indulge himself and his family in attention-seeking showbiz for social proof. Most of his possessions are away from the public eye. The public knows only a small percentage of his wealth.
In November 2012, he purchased a Maisonette house worth $13 million in Pacific Palisades, Los Angeles. He once had a Porsche 933 Carrera as well.
- He is British who has a Jewish ancestry.
- He married Samantha Berg in 1993 and later died in 2000.
- Lucian married Caroline Grainge in 2002.
- He was ranked on the list of popular entrepreneurs.
- Lucian Grainge is an Arsenal fan.
- He is a school drop-out.
- He was awarded the Knight Bachelor of the order of the British Empire in 2016.
- He is the father of Elliot, Alice, and Betsy.
- Nigel Grainge is his older brother and he is the founder of Ensign Records.
- He participated in Songwriters Hall of Fame in 2018.
- Lucian Grange was hospitalized in March 2020 due to Coronavirus pandemic.