What is the net worth of Psy worth?
Psy is one of the South Korean rapper who has an estimated net worth of around $60 million. Psy has gained international recognition almost immediately due to his hit track “Gangnam Style” and subsequent YouTube fame for his music video. For those not from South Korea, Park Jae-Sang who is also called Psy appeared to pop up out of thin air. The hugely popular song “Gangnam Style” took the world by storm and is among YouTube’s most popular videos YouTube ever. Before his international success He was regarded as to be a controversial singer in Korea.
Most K-Pop artists are extremely attractive young and well educated in dance, music and acting. Psy is older, fat and dances however you like, has been kicked off Berklee Music School, and frequently releases songs that contain lyrics that can result in his tracks being blocked or given the “Ages 19+ only” label. Although he has won numerous awards for his music however, he was attacked by various civil organizations in Korea and frequently critiqued.
When he completed his compulsory army service, he told that his service was not legitimate and he was subsequently forced to remain for two time in the army. Not able to create music, he became extremely poor, and eventually decided to go to YG Entertainment, a popular Korean music label that was owned by a mutual friend. The other artists who were part of the label protested his decision to sign to the company that was mostly focused on the market for teens. The protests were not justified however, since the first single released from his album 2 with the label helped propel him to the world of superstardom.
Early Life
Psy Born on December 31 in 1977. His birth name was Park Jae-Sang. He was born into an affluent family from Seoul’s Gangnam District of Seoul, South Korea. His father Park Won-Ho is the director of DI Corporation. Kim Young-Hee, his mother is an restaurateur. Psy was a student at Sehwa High School and was often referred to for being the school clown because he didn’t like the school. According to his former students that he brought a contagious and fun-loving enthusiasm in his class.
The music lover in Psy was influenced by the group Queen especially “Bohemian Rhapsody.” Park was originally planning to enroll at Boston University but lost interest in business administration when he arrived into his home in the U.S. and began classes. Psy utilized his tuition to buy musical instruments and other equipment. He left BU and then enrolled at Berklee College of Music, but then decided and returned in South Korea to pursue a career in music.
Early Career
The album he released was “PSY… From the Psycho World” in January 2001. It was damaged by South Korean government authorities for inappropriate content on the album. The second album he released in 2002 also caused controversy because of its explicit content. In 2003, when Psy released his third album, which finally brought the band’s first breakthrough, Psy entered the South Korean military as a compulsory service for everyone South Korean men aged 18-35.
Psy was exempted from military service in 2005, due to an exemption from working for the company that develops software. He returned with his fourth album, which was awarded honors in the SBS Music Awards. At the time the state prosecutor were accusing Psy of not working to pursue his musical career. The court decided to remake his case and he was not freed from duty until July 2009. Due to financial issues the singer was unable to release his music.
Psy was signed to YG Entertainment in 2010 and released his fifth album. The album’s first song “Right Now” was banned from audiences who were younger than 19. In the year 2000, Psy had topped the charts in the country several times, but was yet to be able to reach international publics.
Gangnam Style
The world changed for Psy when he released Psy’s sixth album “Psy 6 (Six Rules), Part 1.” The single “Gangnam Style” exploded into mainstream music circles across the globe, and to claim that the video became to the top of charts is an exaggeration. On the 21st of August of 2012, the track officially charted at the No. 1 . iTunes Music Video Charts, surpassing the likes of Justin Bieber and Katy Perry. “Gangnam Style” has been watched at more than three billion times Youtube since its debut on July 15th in 2012.
The song topped the iTunes sales chart, and is the most liked and watched video on Youtube. It has also been parodied many times around the world, as well in Saturday Night Live where Psy was a surprise guest. Because of the success with “Gangnam Style,” Psy has been featured in The Today Show, The Ellen Degeneres Show and numerous other. On the 24th of November in the year 2012 began “Gangnam Style” became the most watched video in YouTube history.
The track has been hailed by people from all over the globe, including political top officials such as the President Barack Obama and British Prime David Cameron. David Cameron. The music video on YouTube has 3.5 million views.
Life After Gangnam Style
The month of November, 2012 Psy delivered a lecture on the subject in England in the Oxford Union and discussed the motivation behind the song. He described his life post Gangnam Style to be both an adventure and a nightmare in the sense that Psy knew that it was impossible for his next single to be as successful as the prior one.
The following the same month Psy made history as only the 2nd South Korean music artist to be a part of the MTV Europe Music Awards. Following the popularity that followed Gangnam Style, in 2012, Psy signed on with the manager of Justin Bieber, Scooter Braun as well as his Schoolboy Records. The artist released two more albums, with different levels of success. He also formed his own business in the year 2019, P Nation. The company is signed P Nation Hyuna, P Nation, Dawn, and other artists since the beginning of his business.
Personal Life
Psy was married to Yoo Hye Yeon on October 2006, and the couple is blessed with twins. In the latter part of 2001, Psy had been arrested on suspicion of possessing of marijuana. He was punished with a fine and sentenced to 25 days in prison. In the end, Psy was not able to attend the funeral of his grandfather or say goodbye to his grandfather.
How much did Psy earn through Gangnam Style?
Due to the phenomenal popularity that was “Gangnam Style,” Psy made a tiny fortune off his single in the initial year following the release. Psy’s 7 billion YouTube views have generated millions in revenue sharing. With the four million iTunes downloads, Psy has earned around $4 million. The stream revenue is tiny, just $500,000. Psy also has received an estimated amount of $8 million in endorsements with companies like Samsung. In all, the colossal growth in the film “Gangnam Style” has put over $20 million into Psy’s pocket, prior to taxes, management fees and other fees.
The family of Psy has earned millions as well.
Another intriguing thing that has occurred in the life of Psy as well as his entire family throughout their time of “Gangnam Style” insanity. Somehow, the shares of his father’s publicly traded business has risen dramatically at the same as the single of Psy was going off the rails. For more information about this peculiarity, check out our piece on how Gangnam Style Rapper’s Family made $30 million.