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Tommy Mottola Fortune 2022

Tommy Mottola Net Worth and Salary: Tommy Mottola is a powerful American music executive who has a net worth of $540 million. He is currently the Chairman of Mottola Media Group. He previously co-owned Casablanca Records, a joint division of Universal Music Group.

 

Early Life: Tommy Mottola was born on July 14, 1949 in the Bronx, New York. He graduated from Iona Grammar School in 1962 and Iona Prep in 1966. He then attended 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 vocalist for an R&B cover band called The Exotics. (Mottola is the cousin of famous jazz guitarist Tony Mottola.)

Career

Career:Mottola began his career in the music industry in the mid ’60s as a recording artist under the moniker TD Valentine on CBS. After failing to become a record star himself, he began working for Chappell Publishing and founded his own management company, Champion Entertainment Organization. Through his work at Chappell he came into contact with many artists and soon signed his first successful clients, Daryl Hall and John Oates. Mottola helped Hall & Oates land a record deal and many high-profile promotional appearances. It was around this time that he was known for helping the rock group Xavion successfully use the media to promote,

At the age of 37, Mottola was managing television network CBS when he struck a deal for Sony Corporation to buy the company. In 1988, Mottola was appointed chairman and CEO of Sony Music Entertainment, replacing Walter Yetnikoff, who had worked for the company from 1975 to 1990.

 

During his 15-year tenure at Sony, Mottola transformed Sony Music’s reputation, expanding the company to 60 countries and signing and developing the careers of some of the world’s biggest artists. He built Sony into one of the most successful global music companies and created one of the strongest management teams in the industry. He helped revitalize Sony’s publishing division by acquiring the rights to the Beatles’ catalog and enabled Sony to become the first major music company to make commercial digital downloads available.

Some of the megastars that Mottola has launched include 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. Mottola also worked with Michael Jackson on his albums Dangerous and Invincible. After 15 years at the helm of Sony, Mottola had grown the company’s annual sales from $800 million a year to over $6 billion in 2000.

Mottola left Sony Music Entertainment in 2003 to create a new entertainment company, Mottola Media Group, spanning music recording, television production, theater and fashion. He helped revitalize Usher’s career with his album Confessions, which sold over 20 million copies worldwide. He also revived the careers of March Anthony and Lindsay Lohan. Mottola then bought the rights to Casablanca Records and revived it with singer/actress Lohan. He later signed Cassie Ventura in 2006 and Mika in 2007 who had a successful UK #1 single.

 

In January 2013, Mottola released a book he co-wrote with Cal Fussman entitled Hitmaker. In it he describes his success and the drive that catapulted him to the top of the industry, but also goes into detail about the dry spells during his time in the record industry. In early 2016, Mottola produced the musical adaptation of Chazz Palminteri’s A Bronx Tale. The show opened on February 14, 2016 and closed on March 6, 2016. In December 2016, the show officially opened on Broadway. After 700 performances, the show closed on August 5, 2018. A national tour began in October, beginning in Los Angeles at the Pantages Theatre. Mottola has worked as an executive producer on many shows on cable and network television, including The Latin Explosion: A New America, “A Model Life”, “Born to Diva” and many others. In 2018, Mottola Media signed a multi-year deal with eOne to develop scripted and unscripted television series.

Personal Life: Mottola converted to Judaism and married his first wife, Lisa Clark, in 1971. She was the daughter of ABC Records boss Sam Clark. They divorced in 1990 after having two children, Michael and Sarah.

In June 1993, Tommy Mottola married Mariah Carey in a lavish, multi-million dollar ceremony. The marriage was short-lived, and the couple divorced in early 1998. In 2000, Carey left Columbia and signed to an $80 million deal with competitor Virgin Records. That same year, Tommy Mottola began dating Latino singer Thalia, whom he married at St. Patrick’s Cathedral in New York City in December. The two have two children: Sabrina Sakae, born October 2007, and Matthew Alejandro Mottola, born June 2011.

Tommy Mottola Net Worth from Real Estate : In 2010, Tommy and his wife Thalia spent $2.85 million to purchase a 6-acre vacant lot in Greenwich, Connecticut. They spent three years planning and building their 9 bedroom, 12,300 square foot dream home, which leads via a walkway to a small private island in the property’s lake. They put the property up for sale in April 2017 and finally found a buyer in April 2019 for $14.875 million.

Assets: $540 million
Birth date: Jul 14, 1949 (72 years old)
Gender: Masculine
Job: Music manager, record producer, television producer
Nationality: United States of America
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