What is L.A. Reid’s Net Worth?
L.A. Reid, the music executive and producer, has a net worth of $300 million and is best known for co-founding LaFace Records with Kenneth “Babyface” Edmonds and founding Hitco Entertainment and Hitco Music Publishing. He served as chairman and CEO of companies like Epic Records and The Island Def Jam Music Group. Reid is one of the few remaining music moguls, known for finding and grooming superstar artists like Usher, Mariah Carey, and Rihanna. He has worked with dozens of the most-famous artists in music history and won three Grammy Awards, including one for writing the Boyz II Men song “End of the Road”.
Early Life and Musical Development
L.A. Reid, born Antonio Marquis Reid in Cincinnati, Ohio in 1956, grew up listening to James Brown, Sly Stone, and Led Zeppelin. He was known for turning anything into a drum set, playing in a band by his teens. His taste in expensive clothes earned him the nickname “L.A.”.
L.A. Reid’s Early Career
In the mid-1970s, L.A. Reid played drums for the group Pure Essence. He later found mainstream success through the group, The Deele, which produced several hit songs. His band mate in The Deele was Kenneth “Babyface” Edmonds.
LaFace Records: A Successful Joint Venture
After The Deele disbanded, Babyface and Reid founded LaFace Records in a joint venture with Arista Records, using funding from Clive Davis. LaFace Records became one of the most successful labels in the late 1990s and early 2000s, with TLC selling 75 million records worldwide, Outkast selling 25 million records, and Toni Braxton and Usher each selling 65 million records. Usher was even signed to the label at just 16 years old.
L.A. Reid’s Career Highlights
In 1996, Reid formed the Hitco Publishing Group, a joint venture with Windswept Music. He served as president and CEO of Hitco based in Atlanta, Georgia. He and Babyface sold their last 50% stake in LaFace Records to parent company BMG in May 2000. LaFace became an imprint of Arista Records, and Reid became president and CEO of Arista Records.
Reid signed pop rocker Avril Lavigne to Arista Records, which turned out to be a huge success as her debut album sold 6 million copies in the United States. He also signed P!nk and Ciara during this time.
L.A. Reid’s Career Highlights
After the merger of Sony and BMG, Reid became chairman and CEO of The Island Def Jam Music Group, where he launched the careers of artists like Kanye West, Rihanna, and Justin Bieber. He then became chairman and CEO of Epic Records, where he worked on the posthumous Michael Jackson album “Xscape”. Reid published his memoir, “Sing to Me: My Story of Making Music, Finding Magic, and Searching for Who’s Next”, in 2016. In 2018, he founded Hitco Entertainment, LLC, with Charles Goldstuck. Reid has written and produced tracks for numerous artists and has won three Grammy Awards, among many other accolades.
However, Reid’s departure from Epic Records in 2017 followed allegations of sexual harassment made by a female co-worker against Reid, and other allegations that followed.
Artists signed to Hitco Entertainment include Dinah Jane of Fifth Harmony, Big Boi of Outkast, Yella Beezy, and Delacey.
Family and Philanthropy
L.A. Reid has four children from three different relationships. His eldest son, Antonio Reid Jr., was born in 1979 from a previous relationship. He married Perri “Pebbles” Reid in 1989, and they had a son named Aaron Alexander before divorcing in 1996. Reid then married Erica Holton in 2000, and they have two children together.
Reid is known for his philanthropic efforts, including involvement in projects by the City of Hope organization and the Robin Hood Foundation. He also wrote the single “Just Stand Up” for the 2008 television special “Stand Up To Cancer,” featuring a star-studded lineup of artists such as Mariah Carey, Beyonce, and Rihanna. All of the record’s sales were donated to the Stand Up To Cancer organization.
L.A. Reid’s Real Estate Properties
In 2000, L.A. Reid purchased a 5,000 square-foot apartment with six bedrooms, seven bathrooms, and five half bathrooms in Manhattan, New York, for $9.43 million. In 2013, he listed the unit for sale for $18.9 million and sold it for $16.5 million in January 2014. The apartment features high ceilings, floor-to-ceiling windows, state-of-the-art appliances, Cesar stone countertops, and a monthly HOA fee of $14,000.
In 2016, L.A. Reid bought a mansion on a one-acre property in Bel Air, Los Angeles, for $18 million. He listed the home for sale in 2019 for $22.9 million, then again in April 2022 for $22 million, and finally dropped the price to $18 million in October 2022.
In the Hamptons, L.A. Reid previously owned a 3.25-acre property in Sagaponack, which he acquired in 2006 for $10 million. He listed the home for sale in 2013 for $19 million and sold it for $9 million in January 2019.
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