18. L.A. Reid
Net Worth: $300 million.
Antonio M. ‘L.A’ Reid, better known as L.A. Reid, is an American songwriter, record executive and record producer. He has a net worth of $300 million. He was born on the 7th of June, 1956. Reid is best known as the co-founder of “LaFace Records”. Presently, he is the CEO and Chairman of “Epic Records’, which is one of the recording companies of “Sony Music Entertainment”.
In 1980, Reid joined an R & B band that went by the name of “The Deele”. He is best known in 1988 for the song “Two Occasions” which was a huge hit. It reached the #10 position on the Billboard Hot 100 list.
However, L.A. Reid is best known for promoting the careers of many musicians, people who have eventually become extremely popular. Some of the musicians he has found and promoted are Justin Bieber, Mariah Carey, Paula Abdul, Pink, Rihanna, Kanye West, Toni Braxton, Usher, Avril Lavigne, Ne-Yo, Rick Ross, Ciara, TLC, OutKast, Dido, Young Jeezy, and Kerli.
Reid has often been honored for his work. He was honored as a “BMI Icon” at the 6th Annual BMI Urban Awards in 2006 with Babyface. He has won a total of 18 BMI awards as of 2006. Reid has produced and co-written several R & B hits with Babyface. Reid has also won three Grammy Awards. On February 9, 2013 at the Grammy Salute to Industry Icons Celebration, he was honored with the National Academy of Recording Arts and Sciences President’s Merit Award.