Tommy Mottola born Thomas Daniel Mottola is a multifaceted businessman. He is currently serving as Chairman of Mottola Media Group. Moreover, he is the founding partner of Range Media Partners, and co-founder of Ntertain Studios. Besides that he also served as the chairman and CEO of Sony Music Entertainment for almost 15 years. Mottola has amassed a huge fortune through his career as a prolific businessman. Here we will know about Tommy Mottola’s net worth in 2024.
Becoming a Giant in the Music Industry
Born in Bronx, New York, United States, Mottola grew up in a middle-class Italian American family. He finished studying at Iona Grammar School in 1962 and Iona Prep in 1966. Before attending high school he spent some time in military school. He went to Hofstra University but dropped out. He pursued his dream to become a musician. Soon he joined The Exotics as a guitarist and singer.
In the 1960s he worked as a recording artist in CBS Records. Later he worked for publishing company Chappell Publishing. Eventually he took a foray into the world of business. He established Champion Entertainment Organization. While working at Chappell he was in contact with many artists. His first management clients were Daryl & John Oates. Soon he helped them get record deals and high level endorsements. He also successfully managed Xavion, a black rock group.
In 1988 Walter Yetnikoff hired Mottola to run Sony Music in the US. Later in the 1990s he took the position of Yetnikoff and changed the name to Sony Music. During his time in Sony Music became a global standard in music. The company expanded its business in more than 60 countries. It was Sony that made commercial digital downloads available. Over his 15 years of tenure in Sony, he made improvements in revenue. He took it from $800 million to $6 billion a year by 2000.
During his tenure, he signed lots of big-shot names. Mariah Carey, Celine Dion, Jennifer Lopez, and Shakira are to name a few. In 2001 he also worked with Michael Jackson for his album Dangerous. Jackson later accused Mottola of being racist and severed ties.
Mottola left Sony Music Entertainment in 2003. Soon he started building his own venture. He successfully managed to re-launch various artists’ careers. Among them were Lindsay Lohan and Marc Anthony. Mottola revived Casablanca Records. In 2013 Mottola published his book Hitmaker. Mottola founded Mottola Media Group in 2003. The company signed a multi-year deal with eOne in 2018.
Mottola received a star on the Hollywood Walk of Fame in 2019. During 2021 along with Lex Borrero, Range Media Partners formed Ntertain Studios. The company runs out of Miami. Mottola and Borrero are joint heads of the company.
Age
Tommy Mottola was born on July 14, 1948. So, he is 75 years of age.
Tommy Mottola Net Worth in 2024
Mottola has made his fortune through his lucrative career in the entertainment business. He served as the CEO and chairman of Sony Music for 15 years. So, he earned a huge salary annually. Currently, he serves as the CEO and chairman of Mottola Media Group. Moreover, he heads the Ntertain Studios.
As of 2024, Tommy Mottola has a net worth of $550 million. He earns from various stakes he has in different businesses.
Tommy Mottola Wife
Mottola is currently married to Thalia who is a Mexican singer and actress. The couple married in 2000. They have a daughter and a son together.
Previously Mottola married Lisa Clark, his first wife in 1971. She was the daughter of ABC Records head. He converted to Judaism for his marriage to his first wife. The couple had two children together and divorced in 1990. In 1993 Mottola took Mariah Carey as his second wife. The couple divorced in 1998.
Assets
Mottola bought a 6-acre land in Greenwich, Connecticut in 2010. He and his wife built a 12,300-square-foot home. The house features 9 bedrooms and a small island. The property was sold for $14.875 million in 2019.
