Berry Gordy Net Worth - Pulptastic

What is Berry Gordy’s Net Worth and Salary?

Berry Gordy, the American record executive and producer, has a net worth of $400 million. He is best known for being the founder and president of Motown Records, as well as for launching the careers of music legends such as Smokey Robinson, Stevie Wonder, The Temptations, Gladys Knight and the Pips, and The Jackson 5.

Berry Gordy Jr.: Early Life and Career

Born in Detroit in 1929, Berry Gordy Jr. was the seventh of eight children. He and former President Jimmy Carter are related through their great-grandfather, a Georgian plantation owner. Gordy dropped out of high school in 11th grade to pursue a career as a professional boxer. After a brief stint in the Army during the Korean War, he opened a record store called 3-D Record Mart, selling jazz albums to mostly African-American customers. Gordy also wrote songs in his spare time, one of which, “Reet Petite,” became a hit for Jackie Wilson. Using the profits, Gordy began writing and producing music full time.

Berry Gordy’s Career and Legacy

Berry Gordy launched Tamla Records, an R&B label, in 1959 with an $800 loan from his family. He released Marv Johnson’s “Come to Me” as the first track, which was a success. Gordy soon merged Tamla and Motown into the Motown Record Corporation in late 1959. By 1966, Motown had 450 employees and generated $20 million in revenues ($144 million in today’s dollars).

In 1972, Gordy moved to Atlantis, where he produced successful films like “Lady Sings the Blues” (1972), “Mahogany” (1975), which he also directed, and “The Last Dragon” (1985). He sold his stake in Motown to MCA Records for $61 million in 1988. Gordy is credited with launching the careers of influential artists like the Supremes, Marvin Gaye, the Temptations, the Four Tops, and Stevie Wonder. He also wrote numerous hit songs for famous acts like The Jackson 5.

Gordy has received several honors for his contributions to the music industry, including induction into the Rock and Roll Hall of Fame in 1988 and the Songwriters Hall of Fame’s Pioneer Award in 2013. He is the first living individual to receive that award. President Barack Obama presented Gordy with the National Medal of Arts in 2016 and credited him with “helping to create a trailblazing new sound in American music.” Today, Gordy is worth at least $400 million.

Gordy’s Other Projects

Besides creating hit songs and nurturing new artists, Berry Gordy also dedicated time and resources to various other endeavors. He published an autobiography, titled “To Be Loved”, in 1994. In 2011, he began developing a Broadway musical about Motown, which resulted in the show “Motown: The Musical”. The musical ran at the Lunt-Fontanne Theatre from April 2013 to January 2015 and a UK version opened in the West End in January 2016.

Berry Gordy’s Marriages and Children

Berry Gordy has been married and divorced three times, and has a total of eight children.

In 1953, after returning from deployment in the Korean War, Gordy married Thelma Louise Coleman in Toledo, Ohio. They had three children together and got divorced in 1959.

Gordy’s second marriage was to Raynoma Mayberry Liles from 1960 to 1964. They have one son.

He married his third wife, Grace Eaton, in 1990, and they divorced in 1993.

In addition to his marriages, Gordy also shares children with Jeana Jackson, Margaret Norton, Diana Ross, and Nancy Leiviska.

Real Estate Holdings

Berry Gordy sold his Malibu mansion for $6 million and a Century City condo for $2 million. His most valuable property is his Bel-Air residence, consisting of three contiguous parcels spanning 4 acres. The main house is 10,000 square feet with 13 bedrooms and 9 bathrooms. Gordy also owns a nearby 5,000 square foot house. The Bel-Air properties are potentially worth $50-70 million.