What is Troy Carter's Net Worth?
Troy Carter is an American music manager and CEO with a net worth of $50 million. Currently, he is the CEO and co-founder of Q&A. Previously, Carter was the chairman and CEO of Atom Factory, a talent management and production company known for managing artists like Lady Gaga, Meghan Trainor, John Legend, Charlie Puth, and Priyanka Chopra. He has also been an early venture investor in companies such as Uber, Dropbox, Lyft, and Warby Parker.
Early Life and Education
Troy Carter was born on November 14, 1972, in Philadelphia, Pennsylvania. After his parents divorced when he was two, his father eventually remarried. A family tragedy struck when his father, in an argument, shot his new wife's brother and was sentenced to 12 years in prison. Carter went on to attend Huey Elementary, Sayre Middle School, and West Philadelphia High School before dropping out at 17 to pursue a music career.
Career Beginnings
In high school, Carter formed the rap group 2 Too Many and signed to WilJam Records, owned by Will Smith and James Lassiter. After the group disbanded, he worked in the studio for DJ Jazzy Jeff and served as Lassiter's personal assistant. At age 23, Carter promoted rap concerts in Philadelphia, met record producer and rapper Sean Combs, and interned at Bad Boy Records for a year and a half. Eventually, he moved to Los Angeles to work again with Lassiter but faced setbacks and struggled upon his return to Philadelphia.
Professional Breakthroughs
In 1999, Carter met fledgling rapper Eve and became her manager. He further expanded his roster by managing rap artists like Floetry and Nelly. In partnership with Jay Erving, the son of basketball legend Julius Erving, Carter co-founded the talent management company Erving Wonder. By 2003, he helped Eve land her own television sitcom.
Declining Fortunes
In 2004, Carter and Erving sold their company to Sanctuary, but the deal fell apart, leading to Carter's dismissal by his top client, Eve. Facing financial ruin, he lost all his money, had his car repossessed, and his home foreclosed.
Talent Management Comeback
At rock bottom, Carter was introduced to Lady Gaga by producer Vincent Herbert. In 2007, Carter, Herbert, and Gaga toured California. That year, Carter founded Coalition Media Group and later, Atom Factory, managing rising stars like John Legend and Meghan Trainor. In 2011, he earned an Emmy nomination for the HBO concert special "Lady Gaga Presents the Monster Ball Tour: At Madison Square Garden." Carter's management ended with Gaga in 2014.
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Other Projects and Appearances
In 2011, Carter co-founded the Silicon Valley startup Backplane to foster social media connections between celebrities and fans. Named a Henry Crown Fellow by the Aspen Institute in 2012, he also serves on the advisory board of State, a semantic web platform. Carter was the global head of creator services at Spotify until 2018, after which he took an advisory role. He later co-founded Q&A and developed digital applications StreamRate and Venice For Labels.
In 2015, Carter appeared as a guest Shark on ABC's "Shark Tank" alongside Ashton Kutcher and Chris Sacca.
Personal Life
Troy Carter lives in Los Angeles with his wife Rebecca, who works in finance, and their five children.
