Fans have been wondering what the net worth of Clarence Avant is. Famously called “The Black Godfather,” He is an American music executive and film producer. He was born on February 25, 1931, in Climax, North Carolina. The man is responsible for launching the careers of many musicians. In 2019, Netflix launched a documentary on him titled, ‘The Black Godfather.’ Clarence has been speaking in favor of the true value of the musicians for several years. There are various big music labels, such as Venture Records Inc., Sussex Records, Motown Records, and Tabu records, that he has worked with. He has many businesses under his name, and his connection list with influential people is very long.
Clarence’s journey is the inspiration for many. He was only 16 years old when he decided to leave his home and go to New Jersey. He wanted to get away from his abusive father. The decision was very mature as compared to his age at that time. Clarence Avant married Jackie Avant and has two children from the marriage. Unfortunately, he was struck with a tragedy when his wife was killed by a bullet shot in a home invasion on December 01, 2021. He was also injured in the attack.
Clarence Avant’s Musical Career
He began his career in the 1950s by becoming a manager of Teddy P’s Lounge in New Jersey. He started managing many artists like Little Willie John, Sarah Vaughn, and Tommy Wilson in the initial days of his career. In 1967, he started working for Venture records and shifted to California. Clarence could not afford a house then, so he asked for help from his old mentor Joe Glaser. Joe lent him the money for the down payment, and Clarence bought a house in Beverly Hills. He got recognition on the national level by negotiating a deal between African and American artists.
When Venture recordings were shut down, Clarence did not give up and continued his hustle. He opened his recordings called Sussex records. Unfortunately, the label shut down, and then he went on to open another label with the name ‘Tabu Records.’ That record launched multiple hit artists like The S.O.S. Band and producers like Jimmy Jam and Terry Lewis. Further, he founded another music recording company named ‘Avant-Garde Broadcasting’ in 1973. He worked with many recording companies as a Consultant and Executive. At present, Clarence is the president of multiple music publishing companies.
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Clarence Avant’s Net Worth
The approximate net worth of Clarence Avant is $50 million. He majorly earns by being a music executive and film producer. The house in which Clarence lives has an approximate value of $13 Million. Once in 1969, Clarence’s colleague asked his help to negotiate a deal selling Stax records to Gulf and Western.
The deal was finalized at $4.3 million, and Clarence got 10% of the earnings. Sussex Records, a label founded by Clarence, got shut down in 1975 as he used the profits to purchase multiple items that were not needed. As a result, the IRS auctioned his assets and covered a $480,000 tax bill. He was the first-ever music executive to launch the African American-owned radio by paying $321, 000 to buy a radio license. However, The company shut down just after two years of the foundation and had debts over $500,000.