Tommy Mottola Net Worth 2024

What is Tommy Mottola’s net worth and wage?

Tommy Mottola is an American music govt who has a net worth of $540 million. He is at present the Chairman of Mottola Media Group. He was beforehand the co-owner of Casablanca Records, a joint division of the Universal Music Group.

Early Life

Tommy Mottola was born within the Bronx, New York on July 14, 1949. He graduated from Iona Grammar School in 1962 and Iona Prep in 1966. Afterwards, he went to navy faculty after which graduated from highschool. Mottola dropped out of Hofstra University on Long Island to pursue a music profession as a guitarist and singer for an R&B cowl band known as The Exotics. (Mottola is the cousin of famed jazz guitarist Tony Mottola.)

Early Career

Mottola started his profession within the music trade within the mid-60s as a recording artist beneath the identify of T.D. Valentine at CBS. After his try to turn out to be a recording star himself failed, he started working for publishing powerhouse Chappell Publishing and commenced his personal administration firm known as Champion Entertainment Organization. His function at Chappell put him in contact with many artists and shortly he signed his first profitable shoppers, Daryl Hall and John Oates. Mottola helped Hall & Oates land a document deal together with many high-profile endorsements. Around this time, he was acknowledged for managing the rock group Xavion efficiently use media for promotion, particularly by means of using music movies and company sponsorship for music excursions.

Sony

At the age of 37 Mottola was operating CBS when he struck a deal for the corporate to be bought by the Sony Corporation. In 1988 Mottola was then named the Chairman and CEO of Sony Music Entertainment, changing Walter Yetnikoff who had been on the firm from 1975-1990.

During his 15-year tenure at Sony, Mottola reworked the popularity of Sony Music, increasing the enterprise into 60 nations and signing and growing the careers of a few of the greatest artists on the planet. He turned Sony into one of the profitable international music corporations and created one of many strongest administration groups within the trade He helped to revitalize Sony’s publishing division by buying rights to the Beatles’ catalog and enabled sony to turn out to be the primary main music firm to make industrial digital downloads accessible.

Just a couple of of the mega stars Mottola has launched embrace Mariah Carey, Celine Dion, Destiny’s Child/Beyonce, Jennifer Lopez, Shakira, Gloria Estefan, the Dixie Chicks, Marc Anthony, Barbra Streisand, Bruce Springsteen, Jessica Simpson, Ricky Martin, and Billy Joel. Mottola additionally labored with Michael Jackson on his albums “Dangerous” and “Invincible.” After 15 years on the helm of Sony, Mottola had elevated the corporate’s annual income from $800 million per yr to over $6 billion in 2000.

(Photo by Gustavo Caballero/Getty Images)

After Sony

Mottola left Sony Music Entertainment in 2003 to construct a brand new leisure firm, Mottola Media Group, which included recorded music, tv manufacturing, theater, and trend.  He would go on to helped re-launch the profession of Usher along with his album “Confessions” that offered over 20 million copies worldwide. He additionally revamped the careers of March Anthony and Lindsay Lohan. Mottola then purchased the rights to Casablanca Records and resurrected it with singer/actress Lohan. He later signed Cassie Ventura in 2006, and Mika in 2007, who had a profitable No. 1 single within the UK.

In January 2013, Mottola revealed a ebook titled “Hitmaker,” co-written with Cal Fussman. The ebook detailed his success and the drive behind it that helped to propel him to the highest of the enterprise, nevertheless it additionally discusses at size the downtimes in his recording trade days. In early 2016, Mottola produced the musical adaptation of Chazz Palminteri’s “A Bronx Tale.” The present opened on February 14, 2016 and closed on March 6, 2016. The present formally opened on Broadway in December 2016. After 700 performances, the present closed on August 5, 2018. A nationwide tour started in October, starting with Los Angeles on the Pantages Theatre. Mottola has served as the manager producer for a lot of reveals for cable and community tv together with “The Latin Explosion: A New America,” “A Model Life,” “Born to Diva,” and loads of others. In 2018, Mottola Media signed a multi-year cope with eOne to develop scripted and unscripted tv.

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Personal Life

Tommy Mottola transformed to Judaism to marry his first spouse, Lisa Clark, in 1971. She was the daughter of ABC Records head Sam Clark. They divorced in 1990, after having two youngsters, Michael and Sarah.

In June of 1993, Tommy Mottola married Mariah Carey in a lavish multi-million greenback ceremony. The marriage was short-lived, with the couple divorcing in early 1998. In 2000, Carey left Columbia and signed an $80 million contract with rival Virgin Records. That similar yr, Tommy Mottola started relationship Latin singer Thalia, whom he married that December at New York City’s St. Patrick’s Cathedral. The two have two youngsters: Sabrina Sakae, born in October 2007, and Matthew Alejandro Mottola, born in June 2011.

Real Estate

In 2010, Tommy Mottola and his spouse Thalia spent $2.85 million to purchase an undeveloped 6-acre parcel of land in Greenwich, Connecticut. They spent three years designing and constructing their 9-bedroom, 12,300 sq. foot dream dwelling which incorporates a footbridge to a small personal island on the property’s lake. They listed the property on the market in April 2017 and at last discovered a purchaser in April 2019 for $14.875 million.