What is Scooter Braun’s Net Worth
Scooter Braun, an American music manager, has a net worth of $500 million. He owes his success to Justin Bieber, whom he discovered on YouTube in 2006 when the musician was only 12. Scooter built an empire around Justin’s career, including artist management, song catalog investments, and more.
In April 2021, Scooter made headlines when he sold his music investment firm, Ithaca Holdings, to a South Korean conglomerate for $1 billion.
Scooter Braun’s Early Career
Scooter Braun, born Scott Samuel Braun in New York City in 1981, was a successful athlete and award-winning filmmaker during his school years. While attending Emory University, he began organizing parties and was soon asked to organize after-parties for stars such as Britney Spears, Eminem, and Ludacris. He was subsequently invited to work for Jermaine Dupri’s So So Def Records as the executive director of marketing while still a college student.
After his junior year, Scooter left school to focus on his career. He managed events for the NBA and for Britney Spears’ Onyx Hotel Tour. One of his biggest early successes was brokering a $12 million promotional partnership between Ludacris and Pontiac, which included Ludacris driving a Pontiac in one of his music videos and his song being featured in a Pontiac commercial.
Scooter Braun: From Discovering Bieber to Managing a Talented Roster
Scooter Braun discovered Justin Bieber on YouTube and convinced his mother to move from Canada to the US, pitching him to several artists and landing him a deal with Island Def Jam. Today, Braun is a successful talent manager and record label owner, managing clients such as Ariana Grande, Martin Garrix, and The Wanted, among many others. He has been named Best Talent Manager and received the Humanitarian Award for his charitable work. His record label, Schoolboy Records, has represented a diverse range of artists including The Black Eyed Peas, Karlie Kloss, and Lil Dicky.
Scooter Braun’s Divorce Settlement with Yael Cohen
Scooter Braun and Yael Cohen got married in 2014 and had three children together. However, they filed for divorce in July 2021, and their divorce was finalized in September 2022.
As per the divorce settlement, Scooter paid Yael a $20 million equalization payment and will pay her $60,000 per month in child support. Yael retained their $30+ million compound in Brentwood, some bank accounts, a Land Rover Defender, and several pieces of art. Scooter, on the other hand, kept his $65 million mansion in Brentwood (acquired after the separation), a $40 million Gulfstream G450 private jet, and over 100 pieces of art valued at over $100 million.
Scooter Braun’s Real Estate Transactions
In November 2014, Scooter Braun and his wife Yael bought a mansion in Brentwood, California for $13.1 million. They later purchased the house next door in an off-market transaction for $18 million in January 2020 from John Travolta and his wife Kelly Preston who bought it for $3.5 million in 1993. In the same year, they sold their Montecito house for $28 million, which they bought for $10.9 million in 2014. Scooter also sold his waterfront home in Austin, Texas for $18 million in February 2022, which he purchased two years prior for an undisclosed amount. In September 2021, amid his divorce filing, Scooter bought a $65 million mansion in Brentwood. Additionally, he purchased Villa Tragara in Montecito from Ellen DeGeneres for $36 million in September 2022.
Scooter Braun’s Ithaca Holdings LLC Receives Major Investments
In 2010, music manager Scooter Braun launched Ithaca Holdings LLC with $120 million in venture funds from firms such as Spotify and Uber. The investment and holding company expanded its ventures across various industries, including television, film, and technology. In 2017, private equity firm Carlyle Group became a minority investor in Ithaca. Two years later, Carlyle Group injected another major round of funds, valuing Ithaca at $800 million. Despite the investment, Braun reportedly remains the majority owner of Ithaca Holdings LLC.
Scooter Braun sells Taylor Swift’s catalog to Shamrock Capital
Scooter Braun, with backing from Carlyle, acquired Big Machine Records in 2019 for a reported $300-$350 million, which included ownership of Taylor Swift’s first six albums. Swift publicly criticized the acquisition and announced her intention to re-record her masters. On November 17, 2020, Braun sold Swift’s catalog to investment firm Shamrock Capital for a higher amount than he paid. Swift reportedly declined an equity ownership offer from Shamrock due to the terms allowing Braun to continue earning royalties off her music. She also claimed to have been offered the chance to buy her catalog but was asked to sign a contract forbidding negative comments about Braun. Swift still plans to re-record her masters.
