Nick Cannon is an unforgettable American actor, comedian, rapper, and television host who has slowly cemented himself as a cultural icon. He is also known for his massive family of 12 children with 6 different women that he is known to spoil with regular gifts. What many fans of his don’t know is that he is a tremendously successful entrepreneur too. Nick Cannon’s net worth in 2024 is estimated at around $50 million, which could have been much higher if not for his massive annual spending.
Let’s dive into his career, net worth, and life story to see what insights we can learn from the popular celebrity.
Nick Cannon’s Net Worth Breakdown
Because most of Nick Cannon’s business ventures, assets, and investments are held privately and not through any publicly traded companies, it’s impossible to say what his exact net worth is. Nevertheless, we have been able to collect enough public information surrounding his various sources of income, investments, assets, and business ventures to estimate Nick Cannon’s net worth in 2024 at over $50 million.
|Asset or Income Source
|Contribution to Net Worth
|Masked Singer earnings
|$20 million per year
|Other hosting work earnings
|Ncredible Studio profit share
|Income from restaurants
|Real estate investments
|Approx. $15 million
|Approx. $2.8 million
|Total Net Worth
Nick Cannon Net Worth: A Star is Born
Nick Cannon was born Nicholas Scott Cannon on October 8, 1980, in San Diego, California to father James Cannon Jr. and mother Beth Gardner. However, he didn’t have a conventional upbringing and wasn’t raised by his biological parents.
Nick Cannon said his parents were teenagers when he was born and were not equipped to raise a child. He has asserted that his mother nearly ended the pregnancy before his birth. Instead, Nick Cannon was raised by his paternal grandfather James Cannon Sr. and both Nick Cannon and his father used to address him as “dad”.
Cannon grew up in Bay Vista Housing Projects in Lincoln Park which was an area of Southeast San Diego known for its gang culture, leading him to be affiliated with the Lincoln Park Bloods street gang. Cannon has been open about his past association with gangs and in 2014 he tweeted, “I thought being a gang member was the coolest shit ever until I got shot at!”
Some reports say that he left his association with the Lincoln Park Bloods street gang after losing a close friend.
In 1998, Cannon graduated from Monte Vista High School in Spring Valley, where he was president of the African Student Coalition. He holds a Bachelor’s degree in criminology from Howard University and is pursuing a Master’s degree in child psychology and a Ph.D. in divinity.
Nick Cannon’s Music Career
Nick Cannon was part of the rap group Da G4 Dope Bomb Squad as a teenager which, among others, opened for Montell Jordan and Will Smith. In 2001, Cannon featured along with Romeo Miller and 3LW on the Jimmy Neutron: Boy Genius soundtrack.
He released his debut self-titled album Nick Cannon in 2003 with the single Gigolo, which was a major hit and peaked at number 9 on the Billboard Hot Rap Songs chart.
In 2005, he eventually formed his own record label named Can-I-Ball Records whose first song Can I Live? took a “pro-life” stance and was released in July of that year. Meanwhile, in 2009, Nick Cannon launched a new record label Ncredible Studios while closing down Can-I-Ball Records.
2011 saw Cannon release his debut mixtape, titled Child of the Corn. In 2014, he released his second album, White People Party Music, which was distributed by RED Distribution. Two years later, he released his second mixtape The Gospel of Ike Turn Up: My Side of the Story.
The album Calling All Models: The Prequel was released on his own label in 2018, with The Miseducation of the Negro You Love to Hate following up two years later. The Explicit Tape: Raw & B was also released on Ncredible in May 2022.
Nick Cannon’s TV and Movie Career
Nick Cannon got into hosting duties in 2005 when he produced and hosted the iconic comedy show Wild’N Out for MTV, where comedians battle it out in improv comedy games. Wild’N Out, now on its 20th season, has been an extremely popular staple of 2000s television, helping put Cannon on the map.
After a few years of success on MTV, Cannon served as the host of America’s Got Talent between 2009 and 2017. However, he quit the show amid differences with NBC after making a racial joke about the show’s producer at the Showtime stand-up special.
Nick said at the time:
I was to be punished for a joke … My soul won’t allow me to be in business with corporations that attempt to frown on freedom of speech, censor artists, and question cultural choices.
He went on to say, “Not to get too detailed but this isn’t the first time executives have attempted to ‘put me in my place’ for so-called unruly actions.”
Cannon created and co-hosted the TeenNick original series The Nightlife in 2010. In 2009, Paramount Global named Cannon the chairman of the TeenNick network, making him the youngest TV chairman in history.
Cannon is currently the executive producer and host of the popular TV series The Masked Singer on Fox. Nick Cannon revealed that he is paid over $20 million for hosting the show.
Cannon is among the most popular TV hosts in the US and also hosted his syndicated daytime talk show, Nick Cannon, which debuted in September 2021 but lasted for only one season. Previously he hosted the Nick Cannon Show between 2002 and 2003 on Nickelodeon’s SNICK block.
He also hosts a radio show called Nick Cannon Mornings on KPWR Power 106 FM. Now he hosts The Daily Cannon show on Twitch, an online livestreaming platform known for its gaming content.
Nick Cannon’s TV performances have landed him a few major movie deals as well and he has appeared in 4 major films including:
- Drumline (2002)
- Men in Black II (2002)
- Love Don’t Cost a Thing (2003)
- Roll Bounce (2005)
Notably, after the controversy over some antisemitic comments in 2020, Cannon started a podcast 2hateornot2hate with Jonathan Greenblatt, the CEO of the Anti-Defamation League, in January 2023 to bridge the gap between Black and Jewish cultures.
Nick Cannon’s Awards and Accolades
In his long career in the entertainment industry, Cannon has been nominated for several awards and won many of them. Here is a non-exhaustive list of some of these achievements:
- In 2002, he won the Favorite TV Host award in the Nickelodeon Kids’ Choice Awards for The Nick Cannon Show
- In 2006, he was nominated for the Best Ensemble Category in the Black Reel Awards for the movie Roll Bounce. In the same year, he won the Ensemble of the Year award at the Hollywood Film Festival for Bobby.
- In 2007, Cannon won the Chopard Trophy at the Cannes Film Festival.
- In 2012, Cannon won the Outstanding Supporting Actor for Up All Night at the NAACP Image Awards.
- In 2019, he won the MTV Movie & TV Award for Best Host for his turn on Wild ‘N Out.
Nick Cannon’s Business Ventures
Nick Cannon is associated with several business ventures including Ncredible Studios, which has three fully equipped studios and a rehearsal room. Along with Nick Cannon, the studio has signed several singers French Montana, Gabi Wilson, Wonder Broz, Amber Rose, and Kreesha Turner.
While we don’t know for sure how much profit Ncedible Solutions generates, sources estimate that projects that the studio generated total revenues of $100 million in 2019.
Cannon owns the WildnOut Sports Bar and holds a stake in Hollywood Hills restaurant Yamashiro which has an Ncredible-branded gym.
Like many other celebrities, Cannon has authored several books which include:
- Neon Aliens Ate My Homework
- Nickonomics: Conceive It, Believe It
- King of the Dancehall: A Novel
Nick Cannon’s Real Estate Investments
Nick Cannon has a flair for real estate and has bought multiple properties, most of which were either for his parents and grandparents or for the mothers of his children. He bought a home for his parents and his grandparents in 2002. He bought a home for himself in Chula Vista, a city just outside of San Diego but sold it in 2019.
Cannon has bought and sold several homes but currently owns homes in New Jersey, Temecula, and likely Joshua Tree, California.
Nick Cannon Net Worth: Pivoting to Investing
Like his career, Nick Cannon’s investment philosophy has evolved over the years and he has learned to invest in his passions.
Speaking with the Wall Street Journal in 2010, he said,
Early on, I got caught up in a lot of investments… the real estate boom and buying property in Miami. Lost out on a lot of that.
He added, “I invested my own money in “Wild ‘N Out,” and was able to sell that to MTV and retain ownership.” In a reflection of his investing strategy, Cannon stressed, “Even if these things don’t pan out to be lucrative, at least you can say I invested in my passion.”
Meanwhile, when it comes to investments, while Cannon has talked about the pitfalls of investing in Miami, he prefers real estate over stocks and said that his investments in real estate are higher than in stocks. Speaking in an interview on the YouTube channel VLAD TV, Cannon said, “I enjoy real estate more because I can touch it I can feel it I could say that restaurant is mine, that club is mine, that house is mine.”
While there is nothing in the public domain about Cannon’s cryptocurrency investments, in 2021, Cryptyde, Inc. launched the first NFT album for Nick Cannon and the Ncredible Gang. Cannon said that he was “excited to get in this NFT world with the Ncredible Gang Project SucStress.”
Nick Cannon Philanthropy
Nick Cannon is a great investor, a fantastic TV host, and an even better philanthropist. He founded the Nicholas Scott Cannon Foundation along with Alyssa Scott in 2022 after their son Zen died of brain cancer. Cannon has supported several other nonprofits and charities working for social causes. In addition, he runs the Nick Cannon Foundation that strives to help underserved and low-income communities which recently partnered with tech giant Microsoft.
“I partnered with Microsoft and Boys & Girls Clubs in order to help young people of color recognize they too can help create the technology of the future!” said Cannon on the Microsoft partnership.
Nick Cannon’s Unique Family
Nick Cannon no doubt has a unique family of 12 kids with 6 different women. He is often ridiculed for this but he clearly cares a lot about his children. While Cannon hasn’t spoken much about his biological parents, he often likes to talk about how much of an inspiration his kids are to him.
According to Cannon:
I believe that’s what we’re put on this planet here to do, is to guide and usher in your offspring. So fatherhood is my number one and first priority when I open my eyes, when I get up every morning.
Speaking with People, he said, “I’m so excited about all my kids. Constantly, from every aspect of it. From them getting citizen of the month awards in the first grade to the birth of the new ones.”
There have been reports that Cannon spends $3 million annually on child support. He however refuted the claims and said that the actual number is much higher.
“When you think about my lifestyle, I have to generate at least $100 million a year,” said Cannon. He also stressed he does not ever intend to “participate in the governmental system of child support,” hopefully meaning that he supports all of them voluntarily.
Meanwhile, Cannon admits that he has been “villainized” and previously the narrative about him used to bother him. However, as Nick Cannon’s net worth soared and he has become more successful, he now seems to care less.
But I’m really at a place now where I don’t care what people know. I’d rather just operate. It’s more about really being a good person instead of telling people you’re a good person.
Notably, he had come out to support ex-wife Mariah Carey when she faced media slandering amid reports of their divorce.
I will always love her unconditionally for this and so much more. @MariahCarey is an amazing Mother and I trust her wholeheartedly…
— Nick Cannon (@NickCannon) September 3, 2014
What Can We Learn From Nick Cannon’s Life
While many make jokes about Nick Cannon’s personal life, especially his unique family structure, he is still a remarkably talented man doing a lot of good for the world. His life offers a multitude of important lessons that we could all learn from. For instance, despite his busy schedule he strives to take out time for his children, including taking them on holidays. Cannon is quite unapologetic about his lifestyle and continues to live the life that he desires but he always puts his kids first.
According to Cannon, “I understand that my lifestyle isn’t typical to society and can be viewed as unorthodox in some ways. But my goal in life is just to love my kids and be there for my kids and provide for them.”
Cannon’s success despite his difficult childhood is just as inspiring. Even though he was sucked into the dangerous world of gangs as a kid, he was able to escape it (though not unscathed) and turn out to be enormously successful anyway. The common thread between nearly every single high-powered or famous person, including Nick Cannon, is that they faced hardships that they had to overcome and learn from.
His decision to go back to school at 35 teaches yet another important lesson: it’s never too late to learn. Continuing to learn, whether its from a classroom or hardships in life, is absolutely essential for all forms of self-improvement.