Berry Gordy III (born November 28, 1929), also known as Berry Gordy Jr., is a retired American record executive, record producer, songwriter, and film and television producer. He is best known as the founder of Motown Records, which became the highest-earning African-American business for decades. As a songwriter, he composed or co-composed hits like “Lonely Teardrops” and “Shop Around.”
He launched acts such as The Supremes, Marvin Gaye, Stevie Wonder, and The Temptations. He was inducted into the Rock and Roll Hall of Fame (1988), awarded the National Medal of Arts (2016), and received the Kennedy Center Honors (2021). In 2022, he was inducted into the Black Music & Entertainment Walk of Fame.
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Berry Gordy Net Worth
Berry Gordy has a net worth of $400 million. In 1997, he sold his Malibu mansion for $6 million to Michael Ovitz, after owning it since 1975. In 2014, he sold a Century City condo for $2 million. The crown jewel of his real estate is his Bel-Air residence.
He purchased his first parcel in 1976, eventually expanding to own three contiguous parcels, creating a 4-acre compound. The main house is 10,000 square feet, with 13 bedrooms and 9 bathrooms, and the Bel-Air properties are valued at $50-70 million.
Early Life
Berry Gordy III, born November 28, 1929, in Detroit, was the seventh of eight children of Berry Gordy II and Bertha Fuller Gordy, who had moved from Oconee, Georgia in 1922. Gordy dropped out of Northeastern High School to pursue professional boxing. After serving in the Korean War, he returned to Detroit and married Thelma Louise Coleman.
He opened the unsuccessful 3-D Record Mart and later worked at the Flame Show Bar, where he met singer Jackie Wilson. Gordy co-wrote “Reet Petite” and “Lonely Teardrops”, both hits for Wilson.
Career
Between 1957 and 1959, Berry Gordy produced tracks and albums for up-and-coming artists, including The Miracles (originally known as the Matadors), led by a young Smokey Robinson. In 1959, with an $800 loan from his family, Gordy launched Tamla Records, an R&B label.
The first track released by Tamla was Marv Johnson’s “Come to Me,” which was successful. “Bad Girl” by The Miracles was released under Motown, and both labels merged into the Motown Record Corporation in late 1959. Gordy also worked on projects like the autobiography “To Be Loved” and the Broadway musical “Motown: The Musical.”
Personal life
Berry Gordy has been married and divorced three times, with a total of eight children. In 1953, after returning from the Korean War, he married Thelma Louise Coleman in Toledo, Ohio, and they divorced in 1959, sharing three children. His second marriage was to Raynoma Mayberry Liles from 1960 to 1964, with one son.
In 1990, he married Grace Eaton, divorcing in 1993. He also has children with Jeana Jackson, Margaret Norton, Diana Ross (daughter Rhonda Ross Kendrick), and Nancy Leiviska.
Did Michael Jackson do Motown?
Between 1972 and 1975, he released four solo studio albums with Motown: Got to Be There (1972), Ben (1972), Music & Me (1973) and Forever, Michael (1975). “Got to Be There” and “Ben“, the title tracks from his first two solo albums, sold well as singles, as did a cover of Bobby Day’s “Rockin’ Robin“.
Conclusion
Berry Gordy’s legacy in the music industry is unparalleled. His journey from a high school dropout to a multimillionaire music mogul is a testament to his talent, perseverance, and business acumen.
FAQs about Berry Gordy Net Worth
- How much is Berry Gordy worth?
- Berry Gordy’s net worth is approximately $400 million.
- What made Berry Gordy famous?
- Gordy is famous for founding Motown Records and shaping the careers of numerous legendary artists.
- How did Berry Gordy make his fortune?
- Gordy amassed his fortune through Motown Records, songwriting, film production, and savvy business deals.
- What real estate does Berry Gordy own?
- Gordy owns significant real estate in Bel-Air, including a compound and a nearby house.
- Has Berry Gordy won any major awards?
- Yes, Gordy has been inducted into the Rock and Roll Hall of Fame and received the Songwriters Hall of Fame’s Pioneer Award, among others.
