Berry Gordy is a $400 million dollar net-worth American record executive and producer. Berry Gordy amassed money and fame as the founder and president of Motown Records, as well as being the driving force behind the careers of megastars such as Smokey Robinson, Stevie Wonder, The Temptations, Gladys Knight and the Pips, and The Jackson 5.
Who is Berry Gordy?
Berry Gordy, known professionally as Berry Gordy Jr., was born on November 28, 1929, in Detroit, Michigan. He was the seventh of eight children. Gordy and former U.S. President Jimmy Carter share the same great-grandfather, the Georgian plantation owner James Gordy. Gordy’s grandfather was born to James Gordy and an enslaved woman on his plantation.
Gordy dropped out of high school in 11th grade in order to pursue a career as a professional boxer. That career did not last long and soon he was drafted into the Army during the Korean War. When he returned from the war, Gordy opened a record store called 3-D Record Mart. The store specialized in selling jazz albums to a largely African-American customer base.
In his free time, Gordy also wrote songs, one of which “Reet Petite” which became a hit for singer Jackie Wilson. Using the profits earned from “Reet Petite”, Gordy began writing and producing full-time. Gordy also created songs in his spare time, one of which, “Reet Petite,” became a hit for vocalist Jackie Wilson. Gordy began composing and producing full-time with the proceeds from “Reet Petite.”
How old is Berry Gordy?
He is currently 94 years old.
What is Berry Gordy’s net worth?
He is estimated to be worth $400 Million.
What is Berry Gordy’s career?
Between 1957 and 1959, Gordy produced tracks and albums for a variety of emerging musicians, including The Miracles (formerly known as the Matadors), who were led by a young musician named Smokey Robinson. Smokey recognized a good idea and urged Gordy to think greater. Gordy founded Tamla Records, an R&B company, in 1959 with a $800 loan from his family.
Tamla’s debut release was Marv Johnson’s “Come to Me,” which was a hit. The Miracles’ song “Bad Girl” was released the same year under Gordy’s second label, Motown, and was also a success. In late 1959, he united Tamla with Motown to become the Motown Record Corporation.
By 1966, Motown had 450 employees and a revenue of $20 million ($144 million in today’s currencies). Throughout the late 1960s and early 1970s, Motown became one of the most successful independent record labels in history. In 1972, Gordy relocated to Atlantis, where he successfully produced a series of films, including “Lady Sings the Blues” (1972), starring Diana Ross; “Mahogany” (1975), again starring Ross; and the martial arts feature “The Last Dragon” (1985).
Gordy sold his ownership in Motown to MCA Records for $61 million ($120 million in today’s money) in 1988. He also sold EMI Publishing his stake in the Motown song catalog managed by his business Jobete Publishing. He has 15,000 songs in his collection, 240 of which he wrote himself. Polygram purchased the entire Motown repertoire a few years later for $330 million. Gordy is now worth at least $400 million.
He is recognized for initiating the careers of prominent singers like the Supremes, Marvin Gaye, the Temptations, the Four Tops, and Stevie Wonder, as well as writing successful songs for well-known acts such as The Jackson 5. Gordy was inducted into the Rock & Roll Hall of Fame for his contributions to the music industry in 1988.
Then, in 2013, he received the Songwriters Hall of Fame’s Pioneer Award, making him the first living person to do so. Another important accolade he has won is the National Medal of Arts, which was bestowed to him by President Barack Obama in 2016. Obama praised Gordy at the ceremony for “helping to create a trailblazing new sound in American music.”
Gordy spent time and effort on a variety of other ventures in addition to writing great songs and cultivating new performers. “To Be Loved” was his autobiography, which he released in 1994. In 2011, he began work on a Broadway musical based on Motown. From April 2013 until January 2015, “Motown: The Musical” played at the Lunt-Fontanne Theatre. In January 2016, a West End production of the show began in the United Kingdom.
