Lip Pump can be mentioned as a newcomer to the international music scene. He was only active in music in 2016 when he was 16 years old. Pump the rose to popularity and became known internationally in 2017 thanks to his song ‘Gucci Bang’. Until now, his song has been viewed more than 847 million times on YouTube.
Considering his song ‘Gucci Bang’ exploded in the market, of course many fans want to know for his net worth. It was rumored that Lil Pump is rapidly popular and makes money through his rapper career. So, let’s see Lil Pump’s net worth on our post below!
What Is Lil Pump’s Net Worth?
Celebrity Net Worth reported that Lil Pump’s net worth is approximately $8 million, as of this writing. He is also known as a prominent member of the SoundCloud rap scene where he became popular on SoundCloud when he got millions of streams.
His worth mostly came from his song ‘Gucci Bang’ which was released on August 13, 2018. Following year, this song was played more than 345 million on Spotify for which they pay a minimum of $ 0.006 per stream. Here’s for Pump’s earnings by year:
- 2018: $9,000
- 2019: $12,000
- 2020: $15,000
How Does Lil Pump Make Money?
Of course, there are some of Lil Pump’s sources of income from his career as a rapper and singer. Here’s how it breaks down:
- Earning Money from Streaming and Song Sales
Lil Pump earned at least $2 million from Spotify for ‘Gucci Bang’ song which has been played more than 345 million. But as it turns out, Spotify is not his biggest earning source. His music video on YouTube has been watched more than 795K times. If we add the ‘Official Audio’ video which he released, the total will be more than 824K times.
In this case, YouTube doesn’t pay as much as Spotify, usually an artist gets at least $ 0.0006 per view. So, from the total number of viewers, Lil Pump earned $ 534,524 from YouTube. Then, if we add up the total streaming on Apple Music, Pandora, Google Play and Tidal, surely we can estimate that ‘Gucci Bang’ earned Pump at least a total of $4.3 million.
However, the number is not cut yet by the label and management. Finally, he earned roughly 12 million, 19% of the total streaming revenue.
How about his album sales? According to an article posted on Billboard, 17% of Lil Pump’s total revenue is from album sales. Pump sold 8,000 albums as of the time they count. If his debut album sold for a retail price of $8.99, and the album sales amount to approximately 224,000 albums, he will then have sales of $2 million. After being circumcised here and there by the label and management, Lil Pump only got 12% of his album sales of $241,651.
- Earning Money from Warner Brothers Contract
Pump eventually signed a recording contract with Warner Brothers in March 2018 which came with an $8 million advance. This contract paid him $9,000 in the first year, $12,000 in the second and around $15,000 in the third through seventh years.
Pump was also given 14% shares of his royalties in the United States where it is much higher than normal. He will totally get 66% of his royalties in some sales formats. For more detail, an $8 million advance means that he cannot earn any money until his advance is paid back. Then, if the money is not paid back for any reasons, it’ll be very hard to get another deal.
- Earning Money from Touring and Merchandise
Aside from earning money from album sales and contracts with Warner Brothers, Pump also earns money from touring and merchandise. For most musicians, this is where the real source of income is.
Through touring and merchandise, most musicians can pocket about 60% of total revenue from live show concerts Compared to earning income from album sales and streaming that have been cut with various regulations.
In this case, Pump has performed 70 times since the release of ‘Gucci Bang’ in August 2017. Most of the places he performs his venues are small and have an audience of 500–2500 people.
If an average audience of his concert is 1500 people with a ticket price of $ 30, surely the 60% he earned on the total ticket sales was more than $3 million. Adding the merchandise sales to about 16% of total sales, his total touring income would be estimated at more than $5 million.
How Does Lil Pump Spend Money?
There’s no doubt to say that Pump is loving a pretentious lifestyle. It was rumored that he mostly spent his money on drugs, chains and designer everything. In fact, he recently has made some more heavy investment for a mansion in sunny Miami, Florida.
Just like most rappers, Pump also spends his money on luxurious jewelry. Currently, he spent around $300,000 on necklaces, chains and rings. He also owns numerous gold watches each worth more than $100,000. Aside from jewelry, he also spends his money on his image where he’s wearing predominantly designer items and building up his tattoo collection.
No doubt if Pump spends his money on real estate. In fact, he purchased $4.65 millon waterfront ‘dig’ in 2019. His mansion which is located on Miami Beach’s Biscayne Bay features a 2 story estate complete with a swimming pool, a rooftop deck, spa and boat clock. His Miami home is a whopping 4.815 ft2, with 5 bedrooms, and 6 bathrooms.
Recently, Pump began collecting an electric car which is estimated at $820,000 including Audi R9, Rolls Royce Wraith and Porsche Cayman.
Regardless of his negative image, Pump recently has been performing some pretty great deals where he donated around $7,000 to homeless as well as distributing food and warm clothes at a charity event in Los Angeles in past Christmas.
Even though Pump has earned a large amount of worth over the last couple of years, however, he prefers to invest most of his money in property, cars and jewelry as well as using his wealth to fund his extravagant lifestyle.