Who is Jimmy Iovine and what is his net worth 2018? Jimmy Iovine is a world famous name in record production. He is also the mastermind to establish the Interscope Records, which is an American record producing company. Interscope record was founded by Jimmy Iovine and Ted Field. Both of them executed the business plan by a joint venture with Warner music group’s Atlantic Records. He is presently serving as the chairman of Interscope-Graffen A&M.
James Iovine or Jimmy Iovine was born on March 11, 1953, in Brooklyn. He belonged to a middle-class Italian-American family, where his mother was in a job as a secretary and father were working in a deck— whose job was to unload freight from the cargo ships. From the childhood, Iovine dreamt of doing something different. Though, he rose in an ordinary working class family, he always tried to overcome the hurdles to make his dream comes true.
He got the inspiration when he watches the Beetles,” She loves you”. Show on TV. He got admitted to a Catholic school in Brooklyn and later on shifted to New York’s John Jay College of criminal justice. But at the age of 14, he followed his heart and left college. During this time he met a song writer who engages him in a music studio as a cleaner. His dad allowed him to try his luck only for six months; otherwise, he would have to go back to his college. Iovine was fortunate enough to get a helpful friend who seeks another job in a recording in Manhattan.
Later in 1970, Iovine became a sound engineer, and he worked with his music idol. Then he worked with John Lennon and Bruce Springsteen. The two albums that made him popular were Wall and Bridges with John Lennon and Born to run with Bruce Springsteen in 1975. After he never had to look back and got the opportunity to collaborate on dozens of classic rock albums. Throughout the 1970s and 1980, he worked first as an engineer producer. He was also a responsible supervisor of the music in the romantic film ‘sixteen candies’ in 1984 and comedy film. ‘
In 1990 he established himself as a co-founder of Interscope Records which later on named as Interscope Geffen A&M in 1999. His career as a producer in music industry covers distribution, funding and financial aid. The huge success of death row Records Hip-hop label in the 1990s make him popular as a music distributor as well as financial aid provider in the Record industry. Death row works as a sister concern of Interscope’s Platinum selling chart with famous singers like Lady Gaga and Eminem.
He is also known as the co fonder of, “Beats—a headphone brand”, with Dr.Dre.
In 2005 Iovine appeared in a television show, known as the Family guy by Seth Macfarlane, as a guest artist. He has also engaged a mentor in Fox American Idol Show from 2011-2013.
Jimmy Iovine has an interesting love life as he had got married to Vicki Iovine and they continue their relationship for 24 years with four children. In 2014 he started dating with Liberty Ross and in 2016 entered into a married life with her in their Malibu beach house.
Throughout his life, Jimmy has been awarded and recognised for his efficient works. In 2011, he was honoured by the producers and engineers wing of Grammy award as a recording engineer, founder of Interscope. In 2013 on May 17 Iovine honoured with an honorary Doctor of Music Degree from The University Of southern California.
Net Worth of Jimmy Iovine
All calculation and evaluation of Jimmy’s property and his earning his net worth is $1 billion. During 2012 Jimmy’s net worth evaluated $700 million, but his net worth leapfrogged and reached to $950 million when Apple purchased Beats audio from him and Dr.Dre. From this deal, they gain $2.6 billion in cash and $400 million in stock. Both Dr. Dre and Jimmy owned 25% share of the company and earned $750 million before taxes.
During this time Interscope has continuously gained a profit of $40 million in the last six months of 1999 alone when it releases several hit albums from artist like Eminem, Dr. Dre, Limp Bizkit, Eve and Enrique Iglesias. Meanwhile, Interscope continued the way to prosper with Eminem’s third album, The Mathers LD”. It becomes the fastest selling hip-hop album in history that shifted almost 1.76 million copies in the first week. In 2005, Interscope released at least four out of ten best-selling albums in the US, which makes Jimmy a millionaire in no time.
Being a billionaire Iovine has kept himself away from social media like Twitter, and that is the most out of the box news for a celebrity like him. He is a man who repeatedly hit the goal in his life, and he and Dr. Dre, jointly donated $70 million to create Jimmy Iovine and Andre Young Academy for Arts, Business Innovation and technology under the University of Southern California in Los Angles to inspire the future generation.