Sofia Richie’s Fiance is Rich! Find Out Elliot Grainge’s Net Worth
Elliot Grainge definitely isn’t marrying Sofia Richie because she’s an heiress. He has a massive net worth and comes from a family with vast wealth. Keep reading to find out Elliot’s net worth and how he makes money.
What Is Elliot Grainge’s Net Worth?
The record company founder is worth $10 million, according to multiple outlets. His model bride Sofia is worth nearly as much as she has an $8 million fortune, according to Celebrity Net Worth.
How Does Elliot Grainge Make Money?
He founded the independent Los Angeles-based record label 10K Projects, as the company’s name is based on the quote, “It takes roughly ten thousand hours of practice to achieve mastery in a field.”
Their roster includes artists such as Aitch, Between Friends, Damien Styles, Taz Taylor, Lil Boom, Peach Tree Rascals and WizTheMC.
The company’s mission statement reads, “Our purpose is to recognize and champion the unique visions of the storytellers and creatives of tomorrow — as they see it, without compromise or regard for convention.”
It adds, “We exist to serve as a conduit for exceptional talent, fostering an environment in which norms are designed to be broken, limits are dauntlessly tested, and the very notion of what it means to be a record label is constantly challenged.”
Who Is Elliot Grainge’s Father?
Elliot’s dad is one of the most powerful men in the music industry, Lucian Grainge. He is the chairman and CEO of Universal Music Group. The London native has held the position since 2011 and is worth approximately $50 million, according to Forbes. But that pales in comparison to Elliot’s soon to be father-in law, as Sofia’s dad, music legend Lionel Richie, has a $230 million fortune.
Do Elliot and Sofia Own Property?
Two months after the couple went Instagram official in February 2021, Elliot and Sofia dropped $17 million on a Beverly Hills mansion along a street famously known as “Music Row,” as neighbors included Sir Paul McCartney, Rihanna and Madonna. The couple made extensive custom touches to the home before their August 2021 move in. But they didn’t stay there long.
In June 2022, the pair flipped the home for a tidy $5 million profit, with it selling in an off-market deal. They turned around the following month and purchased a mansion in L.A.’s ultra upscale Brentwood Park for $26.9 million in July 2022. It came four months after Elliot proposed to Sofia in a romantic Hawaiian setting in April, where they were surrounded by friends and family for the big moment.
The 10,779-square-foot home includes six bedrooms, nine bathrooms, a home theater, fitness center, pool, vast lawns and formal rose gardens. It will be Sofia and Elliot’s first marital home as husband and wife.