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How Nick Cannon Achieved a Net Worth of $50 Million

Nick Cannon

Nick Cannon, who is a television presenter, rapper, comedian, and actor, was born on October 8, 1980 in San Diego, California. Cannon grew up in a housing project in San Diego and became involved with a gang. However, following the loss of a close friend due to gang violence, Cannon turned his life around and got out of the gang.

He discovered a love for entertaining others while still in high school, and he performed his first stand-up skit on his dad's local cable access show. As a result of Nick's continued ambition, which has enabled him to appear in various roles throughout TV, Nick Cannon net worth is $20 million. Here is an overview of how he attained his fame, which has allowed him to become the millionaire that he is today.

How Did Nick Cannon's Career Get Started?

Cannon's music career began in 1999, when he started a rap group with two other teens, called Da G4 Dope Bomb Squad. In 2001, Cannon signed with Jive Records and worked with another performer to create the soundtrack for the children's TV show, "Jimmy Neutron: Boy Genius." Cannon formed his own record label in 2005, called "Can-I-Ball Records," with plans to release his second studio album. However, while the second album was recorded, it was never released due to Cannon's acting career.

Nick Cannon's Continued Music Career

Despite NIcke Cannon's acting career, he continued to pursue his career in music, as well. In 2009, Cannon formed a new record label, "N'Credible Entertainment," doing away with the first one, "Can-I-Ball Records," that he started. After starting his second record label, Cannon released a parody album based on famed rapper, Slick Rick, called "Slick Nick." Cannon also released a second album under "N'Credible Entertainment," titled "Child of Corn," which was a mixtape.

Nick Cannon continues to release new music while acting, hosting, and performing in other business ventures. In 2013, he released a single, "Me So Sexy," and "Looking for a Dream" was released in early 2014. Additional singles were released in subsequent years, as well.

What Was the Racial Controversy That Possibly Impacted Nick Cannon Net Worth?

After making anti-semitic and racist statements during a podcast, Nick Cannon was fired by ViacomCBS in July of 2020. Cannon made various statements regarding conspiracy theories regarding Jewish individuals and their supposed control of finance.

Cannon also made "black supremist" statements, claiming that while people are savage and closer to animals than the Black race, insinuating that the Black race is superior. Nick made a public apology for his vile and offensive statements two days later, and ViacomCBS accepted his apology. However, Cannon donated his entire first paycheck for his work on "Masked Singer" to the "Simon Wiesenthal Center," a Jewish human rights organization, as his way of apologizing for making such statements.

Nick's Time Hosting Shows

Hosting has been another way in which Nick Cannon has contributed to his net worth, since 2005. Not only did Nick Cannon host the TV show "Wild 'N Out in 2005," which he created and produced, but he also hosted the Nickelodeon's "Kid's Choice Awards" the same year.

In 2010, Cannon created another show, "Nightlife," a TeenNick TV show that was canceled nearly as soon as it was released.

Health Issues That Likely Impede Nick Cannon's Net Worth

Cannon was diagnosed with an autoimmune kidney disease (lupus kidney disease) that has caused him to be hospitalized several times, including once for a pulmonary embolism. Despite the health scares that Cannon has experienced, he assures his fans that his condition is stable, even though lupus is an unpredictable disease that can sometimes lead to death.

It doesn't appear as if his health has impacted his net worth yet, but if his condition worsens, then it certainly could prevent him from following through with certain commitments and end up costing him money. Nick follows his doctors' recommendations, so he can remain as healthy as he possibly can.

What Were Some of Cannon's Additional Hosting Gigs?

In July of 2011, Cannon hosted a Nathan's Hotdog Eating Contest, which is an annual competitive eating contest that many fans look forward to. "Wild 'N Out" was revived in 2012, and it went on to be one of the most popular TV shows on MTV2.

There were often popular celebrities featured on "Wild 'N Out," which is one reason for its popularity. Nick Cannon also hosted numerous other shows and programs, including the "Ebony Magazine Power 100 Awards," "NBC's "Caught on Camera," among others. He has had more success with hosting shows than not.

What Happened to Cannon Hosting America's Got Talent?

After hosting "America's Got Talent" for seven years, Nick Cannon decided that he was going to resign due to his difference of opinion on which the show was run. His decision to resign was around the same time NBC considered firing Cannon for some derogatory comments he made on a "ShowTime" TV show. However, Cannon was not fired, and his resignation was eventually accepted, after being denied initially. Cannon was allowed to resign, and he was replaced by Tyra Banks.

What are Some of Nick Cannon's Business Ventures?

Cannon enjoys dabbling in business, and he became Chairman of the TeenNick Channel in 2009, and he was also the channel's creative and development consultant. Nick Cannon also has other business deals that he is proud of, including becoming chief controlling officer of "Radio Shack" in 2015. Nick and Radio Shack created a line of NCredible electronics, which were developed to be geared toward younger people.

Nick's Hosting Gigs on Radio

In addition to hosting TV shows, Cannon has also hosted or guest hosted various radio shows. He has hosted his own radio shows, including "Cannon's Countdown," and "Nick Cannon's Mornings," but he has also hosted radio programs like FM 92.3 in New York City with two other hosts.

How Many Children Does Nick Cannon Pay Child Support For?

Cannon has a total of 12 children, all of whom he pays child support for. He pays a total of $3 million in child support each year, which includes all his children except for one child that has yet to be born.This has undoubtedly had a significant impact on his net worth, especially due to the fact that he continues to father children with different women. He has children with a total of six women. First, Cannon has 11-year-old twins with Mariah Carey, who were conceived during their marriage that officially ended in 2016.

Do the Child Support Payments Impact His Net Worth?

Nick has three children with Brittany Bell, ages five, two and five months old. Three of his 12 children are with Amber De La Rosa, who are ages 17 months (twins), and a newborn who was born in November 2022. He has one child who passed away at the age of five months old in 2021 with Alyssa Scott, and Alyssa is pregnant by Cannon again and due any day. Cannon has a five-month-old son with Bre Tiesi, and a newborn with LaNisha Cole. With as many children as Nick Cannon has, it's safe to say that he will be paying child support for many, many years, which will likely affect his net worth.

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Garrett Parker

Written by Garrett Parker

Garrett by trade is a personal finance freelance writer and journalist. With over 10 years experience he's covered businesses, CEOs, and investments. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world.

Read more posts by Garrett Parker

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