Lucian Grainge is an entrepreneur and chairman and CEO of Universal Music Group. Lucian has spent his life as a music industry businessman. In 2010, he was one of the most powerful figures in music. Billboard magazine stated this four times. He was also the first Executive of a decade. As of 2021, Lucian Grainge has a net worth of an estimated $50 million.
|Full Name:||Lucian Charles Grainge|
|Age:||61 years old|
|Birth Date:||29 February 1960|
|Birth Place:||London, United Kingdom|
|Wife/Spouse:||Caroline Grainge (m. 2002)|
|Children/Kids||Yes (Elliot Grainge)|
|Is Lucian Grainge Gay?:||No|
|Profession:||Entrepreneur & CEO|
|Net Worth:||$50 million|
Lucian Grainge Early Life & Education
Lucian Grainge was born on February 29th, 1960. Grainge is a native of London and a British national. Grainge grew up in North London. He grew up in a Jewish home. At the age of 18, he began working for a talent scout agency. After leaving Queen Elizabeth’s Grammar School for Boys in 1978. In 2002, he remarried Caroline Grainge. They both have a son named Elliot Grainge. He was from Samantha Berg.
Lucian Grainge Personal Life
In January 1993, Grainge married his first wife, attorney Samantha Berg. That November she experienced complications while giving birth to their son Elliot, and fell into a coma from which she never recovered. She died in England in 2007. Elliot is founder and CEO of independent record label 10K Projects.
In 2002, Grainge married his second wife, Caroline. Their daughter Alice was born in 2001. They also have a daughter, Betsy. In November 2012 Grainge and his wife reportedly paid US$13 million for a house in Pacific Palisades. They had previously leased a Brentwood home from the owner of Rhino Entertainment.
His older brother was Nigel Grainge, the founder of Ensign Records.
Lucian Grainge Net Worth & Career
In 2002, Grainge was appointed chairman of Universal Music Group UK, and in 2005, he was appointed chairman of Universal Music Group International. He kept it until 2010. On January 1, 2011, he succeeded Doug Morris as CEO of Universal Music Group.
In his first year as CEO, Universal purchased EMI’s Recorded Music division. According to Grainge, selling to Universal was the only way to improve EMI. The company then attempted to resurrect EMI’s defunct labels Capitol and Virgin. “Grainge will go down as the master architect of what is likely to be the last big deal in the music business,” Buzzfeed said of the EMI agreement.
Grainge has worked to expand Universal’s foreign digital expansion by forming distribution partnerships with companies such as Apple, Spotify, Facebook, Tencent, and YouTube. Grainge was the driving force behind the multi-year global license agreement between UMG and Spotify in 2017.
Grainge acquired Bravado, which was previously part of Sanctuary, on behalf of UMG and rebranded it as Bravado. Companies such as Barneys, Bloomingdales, and Selfridges have collaborated with the company to represent musicians such as Justin Bieber and Lady Gaga.
Grainge oversaw a global strategic collaboration with Live Nation for classical labels Deutsche Grammophon and Decca Classics.
In 2017, UMG was valued at $22 billion, more than treble what it was when Grainge took over.
In July 2018, JPMorgan estimated UMG’s value to be $40 billion, rising to $50 billion in 2019. Vivendi announced in 2015 that Grainge had agreed to continue as chairman and CEO of UMG until at least 2020. UMG increased annual sales, digital music revenue, and EBITDA under his leadership.
Lucian Grainge Net Worth
Lucian Grainge’s career has seen him work with several artists. Notable names herein include Sam Smith and Rihanna. Lady Gaga, Shawn Mendes, etc. Psychedelic Furs, Andrea Bocelli, Amy Warehouse, etc. As of 2021, Lucian Grainge has a net worth of an estimated $50 million.