How much did Berry Gordy sell Motown for?

Berry Gordy Jr., the former Detroit auto worker who built Motown Records into what was once the nation’s largest black-owned business, has sold the company for $61 million to MCA Inc. and Boston Ventures Limited Partnership, the companies announced Tuesday.

How much is Motown worth today?

Motown Records, the company that introduced some of popular music’s biggest stars, including Michael Jackson and Stevie Wonder, has been sold to MCA Inc. and an investment banking firm for $61 million, it was announced today.

Who made the most money for Motown?

Diana Ross and The Supremes were the most successful group or artist in Motown’s history by at least one measure — their 12 Billboard No.

Who owns Motown masters?

Both companies are owned by Mr. Gordy and his sister Esther Edwards. Executives said that EMI Music expected the Motown song catalogue to contribute $9 million in profit in its first year.

Who was Motown’s biggest star?

Michael Jackson Still, Motown was Jackson’s launchpad to success and the label’s biggest star.

What is Berry Gordy’s net worth 2021?

According to Celebrity Net Worth, Berry Gordy has an estimated net worth of $400 million (£288m).

What was Marvin Gaye net worth?

Marvin Gaye’s estate has an estimated net worth of $5 million. Back in 1976, the Motown legend’s divorce from his first wife, Anna Gordy Gaye, led him to file for bankruptcy.

Which Motown group sold the most records?

The Supremes were the most commercially successful Motown act and are still America’s most successful vocal group with 12 No. 1 singles on the Billboard Hot 100.

What is the best selling Motown single?

Soul Machine The song became the biggest selling Motown hit in the US at the time, selling over two-million copies within the first six weeks.

Why did Motown go out of business?

Motown Records’ parent company, Motown Industries, was long the largest black-owned company in the country until it fell on hard times in recent years, in part because of some unsuccessful television ventures and the loss to other record companies of some of its top artists, including Michael Jackson and Diana Ross.

Does Jay Z own his masters?

However, Jay-Z has previously spoken out on the importance of artists earning their own masters. In 2004, Jay-Z negotiated the return of his own master recordings when he became Def Jam’s president. In 2010, Forbes reported that Jay-Z’s masters was worth an estimated $50 million at the time.

Does Rihanna own her masters?

In a cover story for the April issue of Vogue, Abby Aguirre reports that after she released her last album in 2012, Rihanna left her old label and acquired the masters to all of her previous recordings. This is an incredible business move for star who also founded her own label imprint under her new home RocNation.

Does 50 Cent own his masters?

50 Cent has revealed release details for his first album in five years, announcing that he has left his major label. After 12 years with Eminem’s Interscope imprint, Shady Records, Fiddy will be his own master starting with Animal Ambition, due on 3 June.

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