AUTHENTIC BRANDS GROUP NOW OWNS MOST OF OVO

Drake does not own most of what carries his name. Universal Music Group holds the bulk of his master recordings. Nike owns NOCTA outright and has never disclosed what cut he takes from it. Stake pays him to stream, not to hold equity in the company. And on August 27, 2026, Authentic Brands Group bought 51 percent of October's Very Own, the fashion label Drake co-founded in 2008, leaving him with a minority 44 percent stake in the trademark and none of the day to day retail business. The empire spans music, fashion, gambling and sneakers. Full ownership inside it is scarce, and Drake controls almost none of it outright.

August 27, 2026. OVO Changes Hands.

OVO's fashion side had been losing money for two years before Authentic Brands Group stepped in. The Toronto label, which Drake started in 2008 with manager Oliver El-Khatib and producer Noah "40" Shebib, pulled in 72 million dollars in revenue in 2024 but lost 8 million in EBITDA that same year, part of roughly 12 million in cumulative EBITDA losses across 2022 through 2024. Management had reportedly been warning staff since 2022 that growth was slowing, and Drake's 2024 feud with Kendrick Lamar made it worse: sales slowed further, and a dozen OVO stores were vandalized.

In 2025, lender A.R.I. extended OVO a senior secured credit facility plus five convertible promissory notes worth roughly 5.2 million dollars. OVO made a partial repayment and secured a forbearance agreement, then missed payments again. A.R.I. filed a formal notice of default in February 2026 and sued that June for about 4.6 million dollars in unpaid principal, interest and fees.

The sale that followed put a hard number on what the label is worth on paper: 117.65 million dollars for 51 percent of OVO's intellectual property, paid by Authentic Brands Group, the licensing company that also holds pieces of Reebok and Vince. Drake kept 44 percent of the trademark. Vince Holding Corp, a separate publicly traded apparel company, took the remaining 5 percent and bought the entire operating business outright: every OVO store in Canada, the US and the UK, the website, design, merchandising, the wholesale accounts. Vince plans three more US stores in 2027 and is taking OVO into major wholesale accounts for the first time that year.

The NOCTA Cut Was Never Disclosed, and Still Isn't

NOCTA launched in December 2020 as an ongoing partnership, not a one-off collaboration, and nothing about that structure has changed through six years of drops. Nike manufactures, distributes and sells every NOCTA piece. What percentage Drake takes from it was never made public at launch and still hasn't been, unlike the OVO numbers a debt lawsuit just forced into the open.

NOCTA has kept expanding regardless. Drake personally invested in Italian club Venezia FC in 2024 through a group that included the APEX investment firm, helping raise roughly 40 million euros to keep the newly promoted Serie A side out of bankruptcy, and NOCTA replaced Kappa as the club's kit supplier that same year. Drake's own NOCTA Manor retreat drew Kevin Durant, Devin Booker and Sexyy Red to a private New Jersey estate days after the 2026 World Cup final, and weeks later Nike Sportswear was selling a 75 dollar fleece crew built to evoke that same weekend, carrying none of NOCTA's branding or its higher price tag. A cultural moment Drake fronts, a mainline product Nike sells off the back of it: that gap is the NOCTA business model in miniature.

Universal Music Group Already Settled the Masters Question

Universal Music Group owns the bulk of Drake's master recordings, a fact Finally Offline has already reported in full. Universal bought them through Lil Wayne's 2020 sale of the Young Money catalog, and a separate 2022 deal reported near 400 million dollars covers everything Drake has released since. UMG chairman Lucian Grainge settled the question under oath in 2025, stating in a sworn declaration that Universal had financed "the purchase and ownership of the bulk of his recording catalogue," during the defamation suit Drake filed against the label and lost at trial; his appeal is still open at the Second Circuit. None of that slowed his output. 43 tracks landed in a single May 2026 push, routed partly through a YouTube redirect strategy built around the one platform Universal does not fully control.

Stake Pays Him to Play, Not to Own

Drake signed a promotional deal with the crypto casino Stake in 2022 reportedly worth at least 100 million dollars a year, according to the Financial Times, built around streaming his own gambling sessions and not on any equity stake in the company. He introduced a gambling persona, Anita Max Wynn, in December 2023, and posted his first documented max win on a Stake owned slot title this July, four years into the arrangement. Bloomberg separately tracked his Stake wallet being credited with roughly 45 to 50 million dollars in crypto most weeks, spiking to 190 million dollars in one week in early 2026. The same investigation, run across 15,000 spins, found Drake hit jackpots on Stake owned game titles about four times more often than on third party titles the company does not own, a gap that disappeared entirely once those third party games were checked. Stake disputed the framing. The underlying spin data was never retracted. Either way, the deal pays Drake to be a face on camera, not a shareholder, and it has never given him a piece of the company he promotes.

Forget the Merch Table. The Stage Is His.

Touring is the one line in Drake's business portfolio that does not run through a corporate partner's balance sheet. The It's All a Blur Tour grossed 320.5 million dollars across 80 sold out shows and 1.3 million tickets between July 2023 and April 2024, becoming the highest grossing hip hop tour on record, a mark Kendrick Lamar and SZA's stadium run later passed in 2026 at 369.6 million. On two nights in Washington, DC that July, Drake became the first rapper reported to clear 5 million dollars from a single show, twice in a row. No trademark got split three ways to make that happen. No lender filed a notice of default. No chairman had to explain an ownership split under oath. Finally Offline priced out what a single Drake rollout costs to stage: the ICEMAN campaign ran an estimated 760,000 to 2.3 million dollars, and even that spending moved through Drake's own operation rather than a joint venture. OVO answers to Authentic Brands Group and Vince Holding now. NOCTA answers to Nike. The masters answer to Universal. The tour answers to Drake, full stop, the one line on this list that carries the word "own" without a partner attached to it.