What Was Ray Charles' Net Worth?
Ray Charles is a legendary singer, songwriter, pianist, and philanthropist. He is one of the most revered musicians of the 20th century, with a net worth of $75 million at the time of his death. Born from incredibly humble and impoverished beginnings, Charles found astounding success in the music industry.
Estate Battle
Ray Charles was survived by 12 children from 10 different women. Each child was allocated $500,000 according to the terms of his will, totalling $6 million. He hinted to them in person that they might receive more money in the future, presumably from his royalties and intellectual property. The bulk of his remaining assets were left to the Ray Charles Foundation, which supports children with hearing and vision impairments. At its peak in 2011, the foundation had $60 million in assets and generated $5 million annually. Today, it generates around $3 million per year and holds $41 million in assets.
Ray's children subsequently sued for the rights to their father's song rights and master recordings, valuing these assets between $25 million to $50 million. The foundation counter-sued, arguing the lawsuit violated the trust agreements. The legal battle extended until 2015 when a California court ruled in favor of the foundation.
Early Life
Ray Charles was born Ray Charles Robinson on September 23, 1930, in Albany, Georgia. His interest in music began at the age of three as he watched Pitman play the piano at Pitman's Red Wing Cafe. Pitman taught him to play. Tragically, his younger brother George drowned when Ray was five, and he started losing his sight, becoming completely blind before his 8th birthday due to glaucoma. His mother, Aretha, found a school that accepted blind Black pupils, enrolling him at the Florida School for the Deaf and the Blind in St. Augustine from 1937 to 1945. There, he learned to read braille music and play classical piano. After his mother’s death when he was 14, he moved to Jacksonville, Florida, to live with a family friend, Charles Wayne Powell.
Early Career
In Jacksonville, Charles played piano for bands at the Ritz Theatre, earning $4 per night, gaining a reputation as a talented musician. To build a fanbase, Charles moved to Orlando, where he lived in poverty. In 1947, he moved to Tampa and joined Charles Brantley's Honey Dippers as a pianist. Eager to form his own band, he moved to Seattle and formed the McSon Trio. Their song "Confession Blues" became his first national hit in April 1949. He also arranged songs for other artists like Dizzy Gillespie. With his initial success, Charles moved to Los Angeles in 1950, spending several years touring as Lowell Fulson’s musical director, and recorded hits "Baby Let Me Hold Your Hand" and "Kiss Me Baby".
Success
Charles’ first big hit came in 1953 with Atlantic Records' "Mess Around." He followed up with "I've Got a Woman" in 1954 and several other R&B hits before headlining prestigious venues like the Apollo Theater and Carnegie Hall by 1958. In 1959, "What'd I Say" reached #1 on the "Billboard" R&B Chart. His distinctive sound blended gospel, jazz, blues, and Latin music, making him a significant crossover success in pop music.
(Photo by David Redfern/Redferns/Getty Images)
After his contract with Atlantic expired in 1959, he signed with ABC-Paramount with a $50,000 annual advance. His first hit with ABC-Paramount, "Georgia on My Mind," earned him worldwide acclaim and four Grammy Awards. "Hit the Road Jack" followed, earning another Grammy. Despite facing a near-fatal plane incident in the early '60s and a 1964 heroin arrest, Charles regained chart success in 1966 after rehab and parole.
Throughout the '70s, Ray's music saw less radio play due to the rise of psychedelic rock and harder forms of R&B. He left ABC in 1974, recording several albums on his own label, Crossover Records. In 1979, "Georgia on My Mind" became Georgia's state song. He recorded multiple country albums with Columbia Records in the '80s, including duets with country legend Willie Nelson.
Charles' iconic status extended beyond music to television with appearances on "Saturday Night Live" and "The Blues Brothers." Despite personal struggles, his musical legacy endures. His final public appearance was on April 30, 2004, at the dedication of his music studio in Los Angeles.
Personal Life
Ray Charles was married twice: to Eileen Williams from 1951-1952, and to Della Beatrice Howard Robinson from 1955-1977, with whom he had three sons. His marriage to Della ended due to his heroin addiction and infidelity. Charles fathered 12 children with 10 different women. His partner at the time of his death was Norma Pinella. He passed away on June 10, 2004, in Beverly Hills due to liver failure at age 73. His funeral was attended by music industry luminaries, with tributes from B.B. King and Stevie Wonder.
