Psy Net Worth
His birth name is Park Jae-sang, but you might know him better as international superstar, Psy. Psy grew up in South Korea to an affluent family and was actually going to go into his father’s business before he moved to the United States and became more interested in music. Psy was discovered because of his dancing abilities, and a South Korean producer put him on television in 2000.
Just a year later, Psy made his first album, which wasn’t a success since the Korean government fined him for “inappropriate lyrics.” Psy would release one more album before joining the military. After his time with the military was done, Psy signed with a record label as he could no longer release his own, and then he finally hit his stride.
Psy’s life (and bank account) changed in a big way in 2012, when in July of that year he released his new album (“Psy 6, Part 1”) and the single “Gangnam Style”. The video for the song made Psy an overnight success across the world, and it became the most watched video on YouTube in the website’s history.
In terms of money, Psy wasn’t particularly struggling before the success of “Gangnam Style”, but he is now worth $45 million because of it. In YouTube advertisements alone, Psy took home a $2 million cut from the streamer. That was just a small sampling of how much the video would make for Psy, as he made millions more when the song (and his image) were used by massive corporations like Samsung and Ford.
Psy also received nearly $3 million from the downloads through Apple’s iTunes service, and even close to $100,000 for streaming revenues on apps such as Pandora and Slacker. Still, the $5 million in endorsements is the biggest chunk that he made from the song.
There is also the matter of appearances, and although his stock isn’t as high as it was in 2012 or 2013, Psy was able to charge $300,000 per show at the height of his fame. It’s not as if Psy has completely gone away, either. He is still a massive star in his native South Korea, and has had a couple of hits in the United States.
In 2013, Psy reached number five on the U.S. charts with “Gentleman”, and then number 26 in 2014 with “Hangover” in a collaboration with Snoop Dogg of all people. These songs were even bigger in Korea, where two reached number one and another (named “Napal Baji”) reached number two.
So all in all that song made Psy about $8 to 10 million in estimates, so where is all of that other money coming from? The concerts have netted another couple of million, while he has also become the tourism ambassador for his native country. Multiple other speaking appearances have brought in extra cash, but the biggest boost in his net worth has been from his family’s company.
In terms of assets, Psy has some pretty expensive items in his collection that include a swanky condo in the Westwood area of Los Angeles, valued at nearly $1.5 million. The fourth floor condo has a balcony and access to a pool, gym and tennis court whenever he wants it. Psy also has a specially made Hyundai Equus that includes bulletproof windows. It’s a one of a kind car that the manufacturer made for their hometown celebrity. Psy is also the owner of 2010 Lamborghini Gallardo LP-560 and a Rolls Royce (that he unfortunately crashed into a bus and left in a Porsche).
Psy’s net worth takes into account his future stake in his father’s company, DI Corporation. The success of “Gangnam Style” and his follow up hits were actually enough to double the stock in the company, which Park Won-Ho, his father, is the executive chairman of. 2016 looks to be a big year for Psy as well, as he just released his seventh album in December 2015 titles “Chiljip PSY-da”.
Even if the music industry decides to turn its back on Psy and he never has another hit song, he would still probably be worth well over $10 million as long as he decides to stay in his father’s business. After all, the company is worth nearly $400 million. In terms of fallback plans, it could definitely be a lot worse.