The world of music and film is mourning the death of Clarence Avant, popularly known as the Godfather of Black music, as he was a prominent figure and had a big contribution to the industry.
As many people find out about his death, many online users were also curious about his net worth before his passing and how he earned money through his decades of hard work.
Let's take a look at Clarence Avant's net worth below.
Clarence Avant Net Worth
According to Celebrity Net Worth, the famed music executive had an estimated net worth of $50 million.
Sports Keeda reported that Avant's fortune mainly came from his earnings from the music industry. He started out as a manager for Teddy P's Lounge and later worked with other musicians like Tommy Wilson.
He became an employee of Venture Records, a famed record label, in the late 1960's. At the time, he was the person responsible for signing the first African-American artist to a record company.
The record company later shut down which led to the executive starting his own label called Sussex Records, Inc.
Unfortunately, things weren't easy at the beginning because after he purchased a radio station at the time, he was in a shocking $480,000 debt. The IRS later auctioned some of his properties in order to pay off the money.
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He later opened up another record company called Tabu Records which became the mastermind behind some of the known singles for famous musicians like Terry Lewis.
By the 1970's, he launched yet another company called Avant Garde Broadcasting, but he also had debt at the time that totaled up to $600,000.
Avant was able to thrive and rise again in the music industry which made people name him the godfather of Black music.
Clarence Avant Death
The world of music and film was shocked after the news of Clarence Avant's death circulated online.
The tragic news was confirmed by his family who issued a statement to a news outlet, saying, "It is with a heavy heart that the Avant/Sarandos family announce the passing of Clarence Alexander Avant."
In a separate statement to NPR, it was confirmed that the renowned music executive passed away "gently at home in Los Angeles." He was 92.
As of this writing, his cause of death remains a mystery as none of his family members decided to publicize this information.
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