Clarence Avant Net Worth
Clarence Avant Net Worth: Clarence Avant is an American music executive and film producer who has a net worth of $50 million dollars. Born in Climax, North Carolina, Clarence Avant moved to New Jersey when he was sixteen years old to escape an abusive step father. He moved in with an aunt and began working at Macy's. He subsequently became manager of Teddy P's Lounge in Newark, New Jersey, and then went on to manage multiple performers, including Little Willie John, Sarah Vaughn, and Tommy Wilson. He relocated to California to work for Venture Records, Inc. in 1967. When he first moved to LA, he lived in a mostly-black area called Baldwin Hills. When Venture Records founder visited Clarence in Los Angeles, he forced him to move to Beverly Hills to be more in the center of the entertainment world. Clarence could not afford a house in Beverly Hills at the time, so Glaser lent him the down payment. When Glaser died in 1969, Clarence learned that the debt was forgiven. He still lives in the house to this day and it is likely worth $7-10 million on its own.
As a music executive, he became nationally recognized after he brokered the first venture between an African-American artist and a major record company. The label shut down in 1969. He launched his own record label in 1969, Sussex Records, Inc. The label went out of business in 1975 after Clarence over-extended himself with the purchase of a radio station, among other ventures. The IRS seized and auctioned his assets to cover a $480,000 tax bill. That's the same as around $2.3 million today. In the wake of Sussex's failure, Clarence launched a new label called Tabu Records which went on to have a number of smash hit artists such as The S.O.S. Band and producers Jimmy Jam and Terry Lewis, also known as Jam and Lewis. Jam and Lewis, via Tabu, worked with Janet Jackson and helped launch her career to the stratosphere.
He went on to work as an executive and consultant for multiple record labels and production companies, and is currently the President of multiple music publishing companies.
Clarence is widely called the "Godfather of Black Music" or "The Black Godfather" due to his many wide-ranging business and personal connections. He is considered either a mentor of friend to people from Barack Obama, to Diddy, to Jimmy Carter, to Bill Clinton, to Quincy Jones. Clarence has long been a proponent of artists owning their master recordings and demanding to earn their true value.
In June 2019, Netflix released a documentary about Avant that was appropriately titled "The Black Godfather".
Clarence Avant married Jacqueline Alberta Gray in 1967. They have two children together.
|Net Worth:||$50 Million|
|Date of Birth:||Feb 25, 1931 (90 years old)|
|Profession:||Film Producer, Entrepreneur, Music executive|
|Nationality:||United States of America|