| Net worth | $58M (as of July 2019) |
|---|---|
| Date of Birth | April 30, 1991 |
| Place of Birth | Houston, Texas |
| Age | 28 |
| Height | 5ft and 10inches |
| Weight | 67kg |
| Residence | Beverly Hills, California |
| Nationality | American |
| Occupation | Rapper, record producer |
| Famous for | Astro World, Rodeo, Birds in the Trap |
| Spouse(s) | None |
| Relatives | Stormi Webster (daughter) |
| Updated on | Sep 2019 |
Life, Family, Work
Travis was born to a businessman father and an Apple executive mother in Houston, Texas. He was raised by his grandmother because of his parents’ busy career.
He was sent by his father to the University of Texas to pursue a degree in business but dropped out after two years because he has decided to pursue music.
He has recorded two Eps in 2009 and 2010 along with his childhood friend. They were known as The Graduates. He signed his first record deal in 2012 under Epic Records and also signed as a part of the creative production team of Kanye West’s GOOD Music label. He then established his own record company called Cactus Jack in 2013. He released his debut album titled Rodeo in 2014 followed by his hit album Antidote in 2015 and gave him his first Top 100 in the Billboard Chart. In 2016, he released his third album Birds in the Trap Sing McKnight. His world-famous, Astroworld was released in 2018 along with its theatrical and out of this world concerts across the US.
He has produced records for Rihanna, Quavo, Kanye, Drake, and Big Sean among others. He is also the newest brand endorser of Jordan by Nike and has recently announced his shoe series with Nike.
He is not yet married but has a daughter with youngest billionaire and part of the famous Kardashian-Jenner clan, Kylie Jenner. The couple welcomed daughter Stormi Webster in 2018 and to whom Astroworld was dedicated.
Money Sources
- Astroworld Tour Merchandise ($10M)
- Jordan by Nike shoe deal (2017-present)
- Astroworld album and tour ($65M)
- Collaboration project with Reese chocolates (2019)
- Record company (Cactus Jack)
Net worth from 2010-2019
- 2010: $8M
- 2011: $14M
- 2012: $22M
- 2013: $35M
- 2014: $39.8M
- 2015: $43.4M
- 2016: $47M
- 2017: $50.7M
- 2018: $54.3M
- 2019: $58M
What does Net Worth Mean?
What is a Net Worth?
It is a quantitative concept which measures the value of an entity. It is applicable ranging from an individual to companies, organizations, sectors and a country as a whole. To put it simply, it is the difference between assets and liabilities. A positive net worth means assets are greater than liabilities, whereas negative net worth mean liabilities are greater than assets.
Formula:
Net Worth = Assets – Liabilities
A little more into Net Worth Concept:
Net worth conveys the financial health of any entity. Asset is anything that is owned and has a monetary value to it while liabilities is a commitment that deplete resources. Assets can be liquid or which can turn into liquid ( example: bank check ). They are non-liquid when they take time to turn into cash (like for example Home). Whereas liability is an obligation that has to be repaid ( example: home loan, car loan etc.,)
Any financial institution or 3rd party look at your assets and liabilities to understand the financial position. Positive net worth or increasing asset base indicates good financial health while negative net worth or increasing liabilities means a bad financial health condition.
It is always a good habit for any entity to maintain a reduce liabilities and increase or maintain a balanced asset base.
What does a Net Worth Mean to a person?
In simple terms, it means the value that is left after subtracting liabilities from assets. Few Examples of liabilities include car loans, student loans, home loans, credit card bills, and other mortgages etc., whereas an individual’s assets are amount in the savings account, home, vehicle, bonds, stocks and other material that has value.
In other words, whatever is left after paying off all the personal debt from asset base is net worth. It is important to understand that value of net worth varies as per the market value of assets and current debt costs.
For example:
Consider a case of Ramu Johnson. His assets include a house valued at $350000, shares worth $150000 and a car worth $35000. His liabilities include a mortgage balance of
$150000 and an outstanding car loan $15000 to be paid.
Now Ramu Johnson’s Net Worth = ($350000+$150000+$35000) – ($150000+$15000)
= ($535000 ) – ($165000)
= $370000
Assuming Ramu Johnson’s financial position after five years as follows –
House value at $350000, Shares value at $180000, savings $ 40000 and car value $25000. While mortgage loan $120000, car loan $0 (paid off).
The Net worth after 5 years would = ($350000+$180000+$ 40000 + $25000 ) – ($120000)
= $595000 – $120000
= $475000
Here it is understood that, although the fact that the value of a house and car decrease, the net worth have increased to $475000. It is because a decline in house loan is less than the overall asset base and decrease in liabilities.
Note that, an individual’s net worth can be negative if his asset base is less than liabilities.
What does net worth mean for celebrities?
Most often celebrities fall under High Net worth Individuals. And what does HNWI mean?
People with considerable net worth as called as HNWI.
Independent Charted Accounts, wealth managers and investment counsellors stay close to them making them as prime markets.
As per Securities and Exchange Commission( SEC), investors more than 1Million are considered as accredited investors to invite them to invest in unrequested securities.
Is 401k part of net worth?
As per the definition, 401K is also a part of net worth if it is calculated in terms of assets and liabilities. But, in this case, 401K have no specifics as in, therefore it cannot be measured.
What is the average American net worth?
Like any entities net worth a countries net worth can be calculated as below. It is a sum of net worth of all individuals (citizens), companies and organizations reside in America, plus countries net worth. In America, this measure is referred to as financial position.
As on quarter 1 2014, America’s financial position =
Assets ( $269.6 trillion) – liabilities ($145.8 trillion ) = $123.8 trillion.
What is a good net worth by age?
| Age of Household | Median Net Worth |
|---|---|
| Under 35 years | $6,900 |
| 35 to 44 years | $45,740 |
| 45 to 54 years | $100,404 |
| 55 – 64 years | $164,498 |
| 65 – 69 years | $193,833 |
| 70 – 74 years | $225,390 |
| 65 – 75 Years | $202,950 |
| 75 + Years | $197,758 |
What is the net worth of the top 1%, 5%, 10%?
As in America, wealth distribution is as follows
Richest 1% of the population owned 35% of the country’s total wealth
Richest 5% of the population owned 11% of the country’s total wealth
Richest 10% of the population owned 12% of the country’s total wealth
Success lessons from Travis Scott
Money and passion keep you focused.
Travis was straightforward in telling that money drives him to stay focused because it keeps him alive and healthy. But he also said that passion should go hand in hand with money for the inspiration to never go out.
You are where you come from.
Travis is a proud homegrown Houston artist. Astroworld was set in Houston particularly in the defunct theme park that he and his parents used to visit when he was a child. He says that everything about him represents Houston and told the media that Houston should be the music capital of the USA.
