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Jimmy Iovine Net Worth: Early Years, Career & More!
Jimmy Iovine is an American businessman, record executive, and media mogul. He is well recognized for being one of the co-founders of Interscope Records. Beats Electronics, which sells audio equipment and operated a now-defunct music streaming service, was launched in 2006 by Iovine and rapper-producer Dr. Dre. In May 2014. Prior to Apple’s acquisition of Beats in 2014, Iovine was chairman of Interscope-Geffen-A&M, an umbrella organization amalgamated in 1999 by the then-reborn Universal Music Group.
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Jimmy Iovine Early Years
James Iovine was born on March 11, 1953 (at the age of 68) in Brooklyn, New York, USA. He is the son of a working-class Italian family. His mother worked as a secretary, and his father, Vincent “Jimmy” Iovine, was a longshoreman. In 1985, Jimmy was moved by his father’s death and his love of Christmas to record A Very Special Christmas.
Iovine attended Catholic schools in Brooklyn, graduating from the now-defunct Bishop Ford Central Catholic High School and going on to the John Jay College of Criminal Justice in New York. He was a college dropout at the age of 19.
After meeting a composer who got him a job cleaning a recording studio, he was introduced to music production and soon began working as an engineer. Iovine has been engaged in the production of almost 250 albums since the beginning of his career.
Jimmy Iovine Career
In the early 1970s, Jimmy Iovine worked as a recording engineer with John Lennon and Bruce Springsteen, among others. By 1973, Iovine was working at the Record Plant in New York, where he worked on Bruce Springsteen’s Born to Run and Meat Loaf’s Bat Out of Hell records. He rose to popularity through his work on Patti Smith’s 1978 album Easter, which produced her Top 40 song “Because of the Night.”
On Damn the Torpedoes, Iovine collaborated with Tom Petty and the Heartbreakers, and on Rattle and Hum, he collaborated with U2. Iovine also produced Stevie Nicks’ first solo album, Bella Donna, Dire Straits’ Making Movies, and The Pretenders’ Get Close.
He worked as a sound engineer for the Voyager Golden Records, a pair of phonograph records released in 1977 aboard the Voyager space probes. Iovine was also in charge of the music in the 1984 romance picture Sixteen Candles and the 1988 comedy film Scrooged.
Iovine co-founded Interscope Records in 1990, which later became Interscope Geffen A&M after a merger in 1999. In 1991, Iovine signed Tupac Shakur to the Interscope label as one of the first hip-hop acts. In the 1990s, Jimmy Iovine was also in charge of providing distribution, initial money, and financial management for the hugely successful Death Row Records hip-hop company.
Death Row functioned as a subsidiary of his firm Interscope and was significantly responsible for Interscope’s initial platinum-selling chart hits throughout the 1990s, propelling the label to greater success in the 2000s with platinum performers such as Eminem and 50 Cent.
Iovine co-produced the Academy Award-winning Eminem film 8 Mile in 2002, which debuted at number one at the box office and went on to gross more than $240 million worldwide. Iovine also executive produced the 2009 LeBron James documentary More Than a Game, as well as 50 Cent’s Get Rich or Die Tryin’.
Jimmy Iovine and Dr. Dre co-founded Beats By Dre, a headphones business, in 2008. By 2012, the company had a 20% market share in the headphones sector. Iovine announced in January 2013 the expansion of the Beats brand into the internet digital music sector with Daisy, a new service set to launch in late 2013. Former Topspin Media CEO Ian Rogers and Trent Reznor of Nine Inch Nails were said to be involved.
Apple Inc. announced the acquisition of Beats Electronics on May 28, 2014. Iovine was hired for an unspecified position at Apple, where he assisted in the development of Apple Music. In 2005, Jimmy Iovine appeared as himself in “Don’t Make Me Over,” an episode of Seth MacFarlane’s Family Guy.
Iovine was a mentor on Fox’s American Idol from 2011 to 2013. Interscope Records represents Scotty McCreery, Phillip Phillips, Jessica Sanchez, and Candice Glover, Iovine’s protégés. Iovine left the show in the middle of 2013. The Defiant Ones, a four-part documentary on Jimmy Iovine’s relationship with Dr. Dre and other musicians, premiered on HBO in July 2017.
Jimmy Iovine’s Personal Life
Jimmy Iovine’s second wife, Liberty Ross, is his second wife; they began dating in 2014. On Valentine’s Day 2016, the pair married in front of their Malibu beach property, surrounded by friends and family. Sean Combs described the wedding as “the blackest wedding he has ever witnessed with a Rabbi!”
Jimmy Iovine’s Net Worth
Jimmy Iovine’s net worth is believed to be approximately $1.2 billion. His primary source of revenue comes from his work as an entrepreneur, record executive, and media owner. Iovine’s lucrative career has afforded him some opulent lifestyles and exotic automobile excursions. He is one of the wealthiest and most powerful businessmen in the United States.