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Berry Gordy Net Worth

by The Fortune Times February 2, 2022
February 2, 2022
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Berry Gordy is a famous director, producer and entrepreneur best known for starting his own record label, Motown Records. In the 1960s and 1970s, Motown produced a slew of successful artists. It has held the title of highest-earning music firm under black control for decades.

Berry Gordy Net Worth
Berry Gordy Net Worth
Life & Career

Berry Gordy Jr. was born in the year 1929 in Detroit, Michigan. He was the seventh child of a middle-class family with eight siblings. He struggled academically from the start, but he had a natural talent for songwriting from the start. His high school music class, on the other hand, eventually kicked him out.

Gordy dropped out of school to pursue a career in boxing and won 13 of the 19 professional fights he participated in. However, his enthusiasm for boxing waned with time and then he intended to be a songwriter, but in 1951, he enlisted in the US Army. Then he served in the Korean War for two years before returning to Detroit to pursue a career in music.

Berry Gordy took the first moves toward launching his music career after returning from his duty in the United States Army. He put his savings into opening a record business in Detroit Three D Record Mart. Gordy went to work on the assembly line at the Lincoln-Mercury plant after the store went bankrupt.

When he was 27 years old, he decided to give music another chance. His ties to his family helped him boost his career by allowing him to co-write the hit Jackie Wilson song. Gordy continued to write tunes for Wilson after that. Gordy took the next step by forming his own publishing company, Jobete. It didn’t, however, catch as much Success as Berry Gordy had hoped.

In the month of April of 1949, Motown Records was officially established. Motown has proven to be a profitable venture for Gordy since its inception. The record label signed a slew of talented musicians.

Motown Records collaborated with musicians such as The Contours, Jimmy Ruffin, The Jackson Five, Marvin Gaye, The Four Tops, and many others. MCA and Boston Ventures bought Gordy’s record company in 1988, and he sold it to them in 1989. The purchase price was $61 million.

Berry Gordy Net Worth
Berry Gordy Net Worth
Personal Life & Relationships

Berry is presently unmarried and divorced. His first wife, Thelma Coleman, with whom he had three children, was his first wife. However, in 1959, they divorced.

Berry married Raynoma Liles after the divorce with his first wife. Although the couple produced a daughter, their marriage ended in divorce in 1964. Berry went on to date numerous women and have additional children after that.

Berry has a total of 8 children from which, Hazel Joy is the first one born on 24th of August 1954. Berry had his 4th child with his second wife, born on 25th of June 1959. His 6xth child is Sherry Gordy who was born on 23rd May 1960. Berry’s 8th son is recognized by his stage moniker Redfoo, and Gordy also had a son named Rockwell.

Net Worth

Berry Gordy has a massive net worth of $450 million. He has made a living writing music in addition to working for his record label. Berry Gordy is not only a great businessman, but also a well-liked one. And this is the main reason of his huge fortune.

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