Sofia Richie's Husband Elliot Grainge Is Worth Millions, But Is It All Due To His Nepo Baby Status?

Publish date: 2024-04-20

Highlights

Sofia Richie and Elliot Grainge had a glamorous wedding in the South of France, with Sofia wearing custom outfits by Chanel.
Elliot Grainge comes from a wealthy family, with his father being Universal Music Group chairman-CEO Lucian Grainge, a highly respected figure in the music industry.
Elliot founded his own record label, 10K Projects, and has achieved success with several gold and platinum singles, earning a spot on Forbes' 30 under 30 list in 2020.

Sofia Richie married Elliot Grainge in a glamorous wedding in the South of France in April.

Grainge comes from a wealthy family. His dad is Universal Music Group chairman-CEO Lucian Grainge, one of the most powerful men in the music industry. The British businessman has held the position since 2011 and has worked with major artists like Lady Gaga, Amy Winehouse, Katy Perry, The Rolling Stones, and Rihanna.

Lucian was named Billboard's first-ever Executive of the Decade and received a star on the Hollywood Walk of Fame. He was also knighted by Queen Elizabeth II in 2016 and is one of the most respect named in the business.

Instead of taking a role with his successful father, Elliot started his own record label. He did learn from one of the best in the musical industry. "I was a weird kid who used to read the music trades," he told Variety in a 2019 profile. "What I noticed about my father's negotiating style was how transparent, honest and sensible he was. When you put your cards on the table like that, negotiating is less competitive and more about teamwork."

How Sofia Richie And Elliot Grainge Met

Although the news of their 2022 engagement came as a shock to many, Sofia Richie and Elliot Grainge had known each other for years.

Sofia's father, the iconic singer Lionel Richie, was a frequent collaborator and friend of Grainge's father, Sir Lucian Grainge. The couple kept their relationship secret until April 2021, when they went official on Instagram.

"I love Elliot," Lionel Richie told Access Hollywood, shortly after his daughter's announcement. "I've known him since he was 12 … It was one of those things where I don't have to go back and check out the kid. I know who it is."

Before they started dating, Grainge and Richie knew each other as kids due to their parents. "They have been friends for years, and Elliot is also close with Sofia's brother, Miles," a source close to the couple told Entertainment Tonight, "It's very nice for Sofia to date someone her family approves of and likes."

During an interview with Who What Wear in July 2023, Richie remembered the moment she knew she had feelings for her future husband. "I would always tell him, 'Whoever you end up with is the luckiest girl,'" she explained. "I thought that person is going to be really loved, appreciated, and worshiped. And then I realized one day … Why can't that lucky girl be me?"

"They make each other really happy," a source close to the couple told People in 2022. "He's very mature and hard-working. He has his own house, and she moved in with him a while ago. All of her friends are thrilled that she found true love. They're a great match for each other."

How Much Is Sofia Richie's Husband, Elliot Grainge Worth?

The record company founder is reportedly worth $10 million, according to multiple outlets. Sofia Richie is worth nearly as much as she has an $8 million fortune.

Elliot Grainge's father is worth approximately $50 million, but that pales to Sofia's dad, music icon Lionel Richie, who has a $230 million fortune.

How Elliot Grainge Earns His Net Worth

After graduating from college, Elliot Grainge moved to LA and started the 10K Projects record label. Their roster includes artists such as Aitch, Between Friends, Damien Styles, Peach Tree Rascals, Taz Taylor, Lil Boom, and WizTheMC. The label has earned 18 gold and eight platinum/multi-platinum singles, with Grainge earning a spot on Forbes' 30 under 30 list in 2020.

According to the 10K Projects website, their purpose "is to recognize and champion the unique visions of the storytellers and creatives of tomorrow - as they see it, without compromise or regard for convention."

The couple also made a $5 million profit on their Beverly Hills mansion, which was located on the street famously known as “Music Row,” which has neighbors included Sir Paul McCartney, Rihanna and Madonna. The couple made extensive custom touches to the $17 million mansion before flipping it. The couple then purchased a mansion in Brentwood Park for $26.9 million in July 2022

Sofia Richie And Elliot Grainge's No Expensive Spared Wedding

On April 22, 2023, Elliot Grainge and Sofia Richie exchanged vows during a glamorous ceremony at Hotel du Cap-Eden-Roc in Antibes, France.

Richie, was walked down the aisle by her dad, Lionel Richie: "I am so excited. [It's] because I'm marrying Elliot, I know that sounds cheesy — but he is the man of my dreams," the model told Vogue on her wedding day.

It hasn’t been confirmed how much Elliot and Sofia spent on their wedding day, but it looks like the couple didn't hold back when it came to their big day.

One report estimates the famous couple spent $1.5 million to rent out the hotel for the weekend. The cheapest room costs $2,300 per night, while the luxury villa comes with a price tag of $32,000 per night. Some outlets even state they spent up to $10 million on the lavish event.

Richie wore several custom outfits for her wedding, many of which were made by Chanel. "I always had this vision of the big princess dress, and going big, but as I got older, I realized that I wanted something a bit more simple. Maybe 'simple' isn't the right word because my dress definitely is not simple!" Sofia told Vogue about her sartorial choices.

It has also been revealed that Sofia Richie had a $116,000 wedding gift wish list for her A-Lister guests, which included Paris Hilton and Cameron Diaz.