Berry Gordy Net Worth

Net Worth:$450 Million
Profession:Record producer
Date of Birth:November 28, 1929
Country:United States of America
Height:
1.75 m

About Berry Gordy

In order to swiftly become wealthy, Gordy dropped out of Northeastern High School in the eleventh grade to pursue a career as a professional boxer. He boxed professionally until 1950, when he was selected by the American Army to serve in the Korean War in 1951. Gordy was initially posted to the 58th Field Artillery Battalion, 3rd Infantry Division, close to Panmunjom after arriving in Korea in May 1952.

Later, he worked as a chaplain’s assistant, driving a jeep and sitting in the front of church services to play the organ. In April 1953, his service in the Korean War came to an end. He earned a GED, which is a high school diploma substitute.

Berry Gordy has an estimated net worth of $450 million dollars, as of 2023. On June 28, 1988, Gordy sold his shares in Motown Records to MCA and Boston Ventures for $61 million.

Gordy co-wrote “Reet Petite” with his sister Gwen and writer-producer Billy Davis, and Wilson recorded it in 1957. Although it was only a small hit domestically, it was more successful abroad, especially in the UK, where it reached the Top 10 and even went on to top the charts when it was re-released in 1986.

Quick facts:

  • Motown Records, Tamla Records, and Gordy Records were founded by this person.
  • sold Motown Records to MCA in 1988 for a price of $61 million.
  • Father of Rhonda Ross Kendrick, along with Diana Ross
  • Motown Records was founded with a loan of $800.
  • Jermaine Jackson II’s grandpa.
  • In 1988, he was given a spot in the Rock & Roll Hall of Fame (as a Non-Performer).
  • Producer Nancy Leiviska is the father of the songwriter Redfoo.
  • fathered Rockwell by Margaret Norton, an ex-girlfriend. formerly Jermaine Jackson’s father-in-law.

Smokey Robinson, the leader of the Miracles, encouraged Gordy to start an R&B record label, so he borrowed $800 from his family in 1959. Gordy originally intended to call the new record company Tammy Records, after the song that Debbie Reynolds sang. But since that name was already taken, he went with Tamla Records. The business opened for business on January 12, 1959. Marv Johnson’s song “Come to Me” was released as Tamla 101. He spent more than $25,000 to buy the Detroit property at 2648 West Grand Boulevard, which became the home of Motown, in 1959.

In February 1960, Barrett Strong’s “Money (That’s What I Want)” debuted on Tamla before reaching the charts on Gordy’s sister Anna Records. With the 1960 Grammy Hall of Fame smash “Shop Around” The Miracles gave the label its first million-selling hit single. This song, along with its follow-up hits, “You’ve Really Got a Hold on Me” “Mickey’s Monkey” “What’s So Good About Goodbye” and “I’ll Try Something New” made The Miracles the label’s first stars.

In that same year, Smokey Robinson wrote the singles “You Beat Me to the Punch” “Two Lovers” and “My Guy” for an undiscovered singer named Mary Wells, who went on to become the second star of the nascent company. The smash single “Shop Around” by The Miracles peaked at No. 1 on the national R&B charts in late 1960 and at No. 2 on the pop charts of Billboard magazine on January 16, 1961 (No. 1 pop, Cash Box), establishing Motown as a noteworthy independent business. Later in 1961, “Please Mr. Postman” by the Marvelettes topped both lists.

In 1972, Gordy moved to Los Angeles, where he produced the commercially successful Billie Holiday historical drama film Lady Sings the Blues, starring Billy Dee Williams, Richard Pryor, and Diana Ross (who was nominated for an Academy Award) (cast in a role originally for Levi Stubbs of the Four Tops). Taimak, a martial artist, and Vanity, one of Prince’s proteges, starred in the cult martial arts movie The Last Dragon, which he produced in 1985. 1988 saw Gordy’s induction into the Rock and Roll Hall of Fame.

On June 28, 1988, Gordy sold his shares in Motown Records to MCA and Boston Ventures for $61 million. Later, he sold to EMI Publishing the majority of his shares in Jobete Publishing. Of the over 15,000 songs in Motown’s Jobete music library, Gordy wrote or co-wrote 240. A few years later, when Polygram paid over $330 million (Diana Ross received shares in this iteration of the business) for the Motown catalog, the true value of the label would be put to the test.

He was admitted to the Michigan Rock and Roll Legends Hall of Fame in 2009 and the Junior Achievement U.S. Business Hall of Fame in 1998.

The Miracles earned a star on the Hollywood Walk of Fame on March 20, 2009, and Gordy was present to honor his first band and first million-selling act. In an homage to the group, Gordy said: “Without the Miracles, Motown would not be the Motown it is today.”

On July 7, 2009, Gordy, at 79 years old, addressed at the Los Angeles funeral for Michael Jackson. In light of Jackson’s accomplishments, he stated that “The King of Pop” would not be the ideal moniker, referring to him instead as “the greatest entertainer that ever lived.”
On May 15, 2011, it was revealed that Gordy was creating a Motown-themed Broadway musical. The program is described as a history of the 1960s events and how they influenced the development of the label. Gordy thought that the musical would enhance Motown Records’ reputation and dispel any myths about the label’s demise.

More facts:

  • His three eldest children, Hazel JOy, BErry, and TErry, are represented by the names Jobete, the music publishing company he founded.
  • Hazel Joy, Berry, Terry, Kerry, Sherry, Kennedy, Rhonda, and Stefan are all among her eight children.
  • Robert L. Gordy, George Gordy, and Anna Gordy Gaye’s brother.
  • Former in-law of Marvin Gaye and Harvey Fuqua.
  • Billy Dee Williams portrays in The Jacksons: An American Dream (1992).
  • Awarded a Star for Recording at 7000 Hollywood Blvd. on the Hollywood Walk of Fame.
  • wrote the “Moonwalk” autobiography of Michael Jackson’s introduction.

On June 13, 2013, Gordy became the first living recipient of the Pioneer Award given by the Songwriters Hall of Fame. The Lunt-Fontanne Theatre hosted Motown: The Musical previews starting on March 11 and regular performances starting on April 14. The performance ended in January 2015.

President Obama awarded Gordy the National Medal of Arts in 2016 for “assisting in the development of a revolutionary new sound in American music. He contributed to the development of Motown as a record producer and songwriter, establishing the musical careers of innumerable renowned performers. His distinctive voice influenced the history of our country.”

In January 2016, Motown: The Musical’s UK production debuted in London’s West End. At the inaugural night, Berry Gordy was there.

The Los Angeles City Council named Berry Gordy Square in the area where Motown’s office once stood, at the junction of Sunset Boulevard and Argyle.

He shared the 2021 Kennedy Center Honors with Lorne Michaels, Justino Daz, Joni Mitchell, Bette Midler, and others. He received a star on the Black Music & Entertainment Walk of Fame in 2022. He received an honorary doctorate from the University of Michigan in 2022.

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