What is Tommy Mottola’s net worth and salary?
Tommy Mottola, an American music executive, has a net worth of $540 million, according to recent reports. He currently holds the position of Chairman at Mottola Media Group, after co-owning Casablanca Records, a joint division of the Universal Music Group, in the past.
Early Life and Career
Tommy Mottola was born in the Bronx, New York on July 14, 1949. He graduated from Iona Grammar School in 1962 and Iona Prep in 1966. Afterwards, he went to military school and then graduated from high school.
Mottola dropped out of Hofstra University on Long Island to pursue a music career as a guitarist and singer for an R&B cover band called The Exotics. (Mottola is the cousin of famed jazz guitarist Tony Mottola.)
Tommy Mottola’s Early Career in the Music Industry
Tommy Mottola began his career in the music industry in the mid-60s as a recording artist under the name of T.D. Valentine at CBS. However, his attempt to become a recording star himself failed. He then began working for publishing powerhouse Chappell Publishing and started his own management company called Champion Entertainment Organization.
At Chappell, Mottola was put in touch with many artists, and he soon signed his first successful clients, Daryl Hall and John Oates. Mottola helped Hall & Oates land a record deal along with many high-profile endorsements.
During this time, Mottola was recognized for managing the rock group Xavion successfully, using media for promotion, specifically through the use of music videos and corporate sponsorship for music tours.
Tommy Mottola’s Success as Chairman and CEO of Sony Music Entertainment
Tommy Mottola became the Chairman and CEO of Sony Music Entertainment in 1988, replacing Walter Yetnikoff. During his 15-year tenure at Sony, Mottola transformed the reputation of Sony Music, expanding the business into 60 countries and signing and developing the careers of some of the biggest artists in the world. He helped to revitalize Sony’s publishing division by acquiring rights to the Beatles’ catalog and enabled Sony to become the first major music company to make commercial digital downloads available.
Mottola launched the careers of Mariah Carey, Celine Dion, Destiny’s Child/Beyonce, Jennifer Lopez, Shakira, Gloria Estefan, the Dixie Chicks, Marc Anthony, Barbra Streisand, Bruce Springsteen, Jessica Simpson, Ricky Martin, and Billy Joel. He also worked with Michael Jackson on his albums “Dangerous” and “Invincible.” After 15 years at the helm of Sony, Mottola had increased the company’s annual revenue from $800 million per year to over $6 billion in 2000.
Tommy Mottola’s Career Highlights
After leaving Sony Music Entertainment in 2003, Tommy Mottola founded Mottola Media Group, which encompassed various entertainment industries. He helped revive the careers of Usher, Marc Anthony, and Lindsay Lohan, and resurrected Casablanca Records. Mottola also signed Cassie Ventura and Mika, with the latter achieving a No. 1 single in the UK.
In 2013, Mottola published a book called “Hitmaker,” which delves into his successes and struggles in the music industry. He produced the musical version of “A Bronx Tale” in 2016 and has served as executive producer for several TV shows, including “The Latin Explosion: A New America” and “Born to Diva.”
In 2018, Mottola Media signed a deal with eOne to develop scripted and unscripted television shows for multiple years.
Tommy Mottola’s Marriages and Children
Tommy Mottola converted to Judaism to marry his first wife, Lisa Clark, in 1971. They divorced in 1990, after having two children, Michael and Sarah.
In June of 1993, Tommy Mottola married Mariah Carey in a lavish multi-million dollar ceremony. The marriage was short-lived, with the couple divorcing in early 1998.
After his divorce from Carey, Tommy Mottola began dating Latin singer Thalia. They married in December 2000 at New York City’s St. Patrick’s Cathedral and have two children together: Sabrina Sakae, born in October 2007, and Matthew Alejandro Mottola, born in June 2011.
Tommy Mottola’s Greenwich Estate Sells for $14.875 Million
In 2010, Tommy Mottola and his wife Thalia bought a 6-acre parcel of land in Greenwich, Connecticut for $2.85 million. They spent three years building their dream home on the property, featuring a footbridge to a private island on the lake. The 9-bedroom, 12,300 square foot home was listed for sale in April 2017 and sold in April 2019 for $14.875 million.
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