Facts of Steve Stoute
|Full Name||Steve Stoute|
How Much Is American Businessman Steve Stoute’s Net Worth?
The American-born businessman and author, Steve Stoute’s professional career has earned him a hefty fortune. Stoute, the founder and CEO of the Translation since 2004, a marketing agency also launched his music venture UnitedMasters in 2017 aiding the million dollars revenue in his worth.
As of 2019, Steve has an estimated net worth of $55 million, all thanks to his hard-dedication and fruitful business ideas.
Having worked as a record executive for many labels in the music industry, not only took a firm step as an entrepreneur but also as an author. His book The Tanning of America: How Hip-Hop Created a Culture That Rewrote the Rules of the New Economy, released in 2011, grabbed him massive applauds as well as economic benefits.
Net Worth Details: Career, Income Sources & Earnings
Steve Stoute, an American businessman initially used to work as an executive for many music labels from 1990 to 1999. He was President of Urban Music for Sony Music Entertainment and later joined Interscope Geffen A&M Records as executive vice president.
Moreover, he produced albums for Mariah Carey and Nas; also worked with Gwen Stefani and Enrique Iglesias.
Then, in 2004, Stoute began his own venture and founded the marketing firm Translation. He serves as the CEO of the company which manages advertisements for its clients like State Farm, McDonald's, and Anheuser-Busch InBev.
In addition to Translation, Steve also founded UnitedMasters, a music venture in 2017 with funding of $70 million and association with companies like Alphabet, Andreessen Horowitz and 21st Century Fox.
Well, he is also the Lead Investor & Chairman of Carol's Daughter, a line of natural hair and body care product. Stoute had joined the company as Managing Director and CEO in 2005.
According to verified online sources like Celebrity Net Worth and The Richest, Steve Stoute owns the net worth of around $55 million as of June 2019.
The main source of his income is the business venture in advertising firms and cultural beauty brands. Even though, the actual value of his earnings is not out but is claimed to earn the salary of millions of dollars per year.
Steve Stoute’s fortune is often compared with other investors like Michael Burry ($200 million) and Grant Cardone ($300 million), though owns less. But, his growing empire and prominence promise a massive rise in his worth in the coming days.
Author Of Best-Seller Book
On September 8, 2011, Steve released the book The Tanning of America: How Hip-Hop Created a Culture That Rewrote the Rules of the New Economy, which became New York Best Seller.
The book revolves around his philosophy of a global shift to engage and understand the young adult market. For a fact, the book was turned into a documentary The Tanning of America: One Nation Under Hip-Hop in February 2014.
Achievements & Honors
Steve was inducted into the Advertising Hall of Achievement in 2009 and became the Innovator of the Year, the following year. Then in 2013, the Ad Age named him Executive of the Year and Fast Company’s Most Creative People in Business in 2014.
Endorsements & Charity Works
Till now, the report on Steve Stoute’s endorsements is not out, while his company does promote ads for like State Farm, McDonald's, and Anheuser-Busch InBev. No doubt that the famous personality can call on a huge sum for sponsorships.
As per Influencer Marketing Hub, Stout with over 185k followers on his Instagram can earn $552-$920 per sponsored post.
Aside from business venture, Steve Stoute is also active on charity works. Along with Mary J. Blige, Steve co-founded Foundation for the Advancement of Women Now (FFAWN) in 2008. It aims to educate and empower women through career development opportunities.
Assets, Lifestyle & Expenses
Stoute currently lives in his house in New York City, where the median house price is $677,000, accompanied by a house insurance premium of $1,256.
Back in October 2013, he sold his 3,580 square ft. Tribeca Condo for $7.15 million. Well, Steve Stoute put his house in the market for $12.5 million, followed by the price-drop by $2.5 million in 2010.
The price even went down to $9.5 million until it was bought by Mr. Fensterstock, CEO of the Marco Polo Network for nearly $2 million less.
Well, the American businessman also owns a collection of luxury cars including a 1957 Porsche Speedster.
No doubt that aside from assets, the multi-millionaire makes huge expenses on a luxurious lifestyle. Surfing through his Instagram, Stoute seems to be fond of traveling and spending on costly suits, daily life luxury, and accommodations.
Like all other Americans, the businessman is also liable to tax payments. His New York house seeks 1.925% of its assessed value as property tax. On the other hand, the income tax takes away 10%-37% depending on the amount of income.
For instance, upon the annual revenue of $5 million, Steve has to pay $2.491 million as income tax, inclusive of 35.61% Federal tax, 2.46% FICA, 7.96% state tax and 3.86% local tax.
Steve Stoute’s Personal Life: Age, Height, Family, Education & Relationship
Steve was born on June 26, 1970, in Queens, New York, the USA in an American family. He holds American nationality and has African ancestry. Well, the entrepreneur is low-key regarding his family background and education.
As of June 2019, Stoute’s age is 49, though his height is not out. Steve’s zodiac sign is Cancer.
Well, Steve Stoute is a married man and enjoys a blissful relationship with his wife Lauren Branche. The duo exchanged vows on September 6, 2015, at Blue Hill at Stone Barns in Tarrytown.
The wedding ceremony was attended by many famous celebrities like Jay Z, Beyonce, LeBron James, Kim Kardashian, Kanye West, and many others.
Steve and Lauren are together for over 3 years without any relationship mishaps but are yet to disclose their courtship detail. Also, they are yet to welcome children.
Did you know? Steve Stoute is good friends with American music personality DJ Khaled.
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