Highlights
- Elliot Grainge’s 10K Projects has achieved significant success in the music industry, releasing over 30 platinum-certified singles and emphasizing artist creativity.
- Grainge’s strategic joint venture with Warner Music Group solidifies 10K Projects as a standalone label, integrating its roster and team into the broader WMG framework.
- In addition to his music ventures, Grainge has invested in various industries, including male accessories, digital marketing, venture capital, and sunglasses manufacturing.
Elliot Grainge‘s lavish wedding with Sofia Richie was not driven by her celebrity status. Grainge, a music executive hailing from a family of considerable wealth, boasts an impressive net worth.
Reports suggest that Grainge is valued between $10 to $18 million. His financial trajectory shows no signs of deceleration, thanks to a diverse range of investments continually contributing to his expanding financial portfolio.
8 How Does Elliot Grainge’s 10K Projects Make Money?
Industry – Independent Record Label
In 2016, Elliot Grainge established 10K Projects based in Los Angeles. The company’s mission explicitly emphasizes the recognition and advocacy of unique visions from emerging creatives.
Artists Under 10K Projects:
- Aitch
- Between Friends
- Ceo Trayle
- Coin
- Dro Kenji
- Iann Dior
- Ice Spice
- Internet Money
- Jeleel!
- Kenzo Balla
- Natalie Jane
- Noah Guy
- Rich Amiri
- Ricky Hil
- Rot Ken
- Sxmpra
- Salem Ilese
- Summrs
- Trippie Redd
- Westside Jhitt
According to Grainge, 10K Projects operates without external investors, and in just seven years, his label released over 30 singles, each achieving platinum certification. Grainge’s associates attribute 10K’s success to his adept use of data, belief in the influence of social media influencers, an innate ability to identify hits ahead of the curve, and Grainge’s emphasis on granting artists complete creative control of their music.
7 Elliot Grainge’s Company Inked A Joint Business Venture With Warner Music Group
Industry – Entertainment And Record Label Company
In September 2023, Warner Music Group (WMG) and Elliot Grainge’s 10K Projects officially announced a strategic joint venture in a press release. The collaboration positions 10K Projects as a standalone label within the WMG ecosystem, integrating its star-studded roster and dynamic next-generation team into the broader WMG framework.
Grainge expressed his enthusiasm for the partnership during the press release via Bloomberg:
“Joining Warner Music Group provides us with the backing, the collective expertise, and vision to empower our artists and our employees on the next phase of our journey…”
While the terms of the deal were not disclosed, it was clarified that Ice Spice’s future recordings are not part of the agreement, and she will continue to record for Capitol Music Group.
6 Elliot Grainge Invested In Male Accessory Business
Industry – Modern Grooming Company For Self-Expression
In 2021, Elliot Grainge’s 10K Projects invested in the innovative Faculty World as part of the company’s scope initiative.
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FACULTY WORLD Inc. Investment Details |
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|---|---|
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Location |
San Francisco, California US |
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Founders |
Fenton Jagdeo |
|
Umar ElBably |
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Date Founded |
June 2019 |
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No. of Lead Investors |
2 |
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Total No. of Investors |
11 |
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Total Funding Acquired |
$3 Million |
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Name of Investors |
Este Lauder |
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Maisie Williams |
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Iann Dior |
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According to Forbes, through its venture arm, Grainge’s company intended to allocate funds ranging from $100,000 to $1 million per round, aiming to support 15–20 companies in its inaugural year.
5 Elliot Grainge Invested In A Management And Marketing Company
Industry – Digital Marketing Company
Elliot Grainge’s 10K Projects and Create Music Group invested in the management and marketing firm, Homemade Projects. This partnership established a joint venture, Homemade Records, but the details of their transaction were not disclosed.
Clients of Homemade Projects via @homemadeprojx:
- Surfaces
- COIN
- Salem Ilese
- Jake Shane
- Larray
- Crime Junkie
- Ali Wong
- Emergency Intercom
- Lala Kent
- 100 gecs
- Young the Giant
In 2022, 10K Projects acquired Homemade Projects, with Zach Friedman and Tony Talamo named as Co-Presidents. The specific terms of the transaction remain undisclosed. Friedman and Talamo take charge of the label’s day-to-day operations, overseeing A&R, marketing, publicity, and creative aspects, and direct reporting to Grainge.
4 Elliot Grainge’s 10K Projects Invested In PlayWRK
Industry – Venture Capital Firm
In November 2021, Elliot Grainge teamed up with PlayWRK, under the banner of “10K Ventures powered by PlayWRK.” Its initiative aims to support early-stage founders seamlessly integrated into the music ecosystem.
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Name |
Investment Backgrounds |
Brands/Projects |
|---|---|---|
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Justin Germaine |
4+ Years Leading Finance and Strategy Raised $120M+ |
Dosist, Broadhaven, Pure Beauty, and Gossamer |
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4+ Years of Investment Banking and M&A Advisory |
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2+ Years Early-Stage Advisor |
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Maggie Sellers |
8+ Years Brand Builder |
NudeStix, Freshii, 10K, Faculty, Hi!, Ohza |
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3+ Years Artist MGMT and Record Label Executive |
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2+ Years Early-Stage Advisor |
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Alex Sarkissian |
Founder $30M Real Estate Investment Firm |
Sixpine, The Pacific Companies, AMG, Inland, and Golden State Bank |
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2+ Years on Investment Teams |
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5 Completed Real Estate Projects |
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With plans to inject initial capital ranging from $100,000 to $1,000,000 into each supported company, 10K Ventures envisions a growing portfolio of companies at the intersection of music and technology.
3 Elliot Grainge Expanded His Investment In The Liquor Company, Ohza
Industry – Low Calorie, Less Sugar Beverage Company
Ohza particularly specializes in sparkling wine cocktails such as ready-to-drink mimosas, bellinis, and sangrias. In 2022, Ohza expanded its availability to 600 Target locations and prominent outlets like Whole Foods, BevMo, Total Wine, Wegmans, and Hannaford.
Ohza’s Other Investors:
- Austin Rosen
- Branch Venture
- CircleUp Growth Partners
- Riverside No. 2 Ventures
- Ruttenberg Gordon Investments
This expansion was thanks to the $4 million funding and partnerships with major distributors, including Southern Glazers and Breakthru Beverage. The funding round was led by CircleUp Growth Partners, which includes Elliot Grainge’s 10K Projects.
2 Elliot Grainge Invested In Wonder Works Studio
Industry – Video Games Developer In Metaverse
After finalizing his business deal with PlayWRK, Elliot Grainge collaborated with PlayWRK to invest in Wonder Works Studios. Wonder Works creates immersive experiences within the $39 billion Roblox metaverse and pioneers custom interactive experiences tailored for top-tier brands and talent.
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Location |
Arlington, Texas US |
|---|---|
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Year Established |
2019 |
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Number of Employees |
51-100 |
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CEO and Founder |
Zachary Letter |
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Co-Founder |
Megan Letter |
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Chief Operating Officer |
Kevin Perry |
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Chief Business Officer |
Joe Jurbala |
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Chief Content Officer |
Tyson Letter |
This strategic investment is anticipated to open up avenues for 10K artists to curate distinctive fan experiences within the Roblox environment. Grainge acknowledged the commendable understanding of the PlayWRK team in identifying innovative business concepts.
According to Music Business Worldwide, Zachary Letter emphasized the growing significance of virtual experiences as a premium means of enjoying various forms of entertainment. Letter also expressed gratitude for the support and guidance provided by 10K Ventures and PlayWRK.
1 Elliot Grainge Invested In Futuremood
Industry – Sunglasses Manufacturer And Retailer
Futuremood is on a mission to establish itself as the most innovative sunglasses company globally which uses Halochrome lenses that are proven to elevate your mood.
6 Investors of Futuremood via CrunchBase:
- Slick Wood
- Elliot Grainge
- Adam Kleger
- Caleb Williams
- Lil Yachty
- Reed Duchscher
According to CrunchBase, Elliot Grainge invested an undisclosed amount in Futuremood during its first funding round in July 2022. Austin Soldner, co-founder and CEO of Futuremood, emphasized that when selecting collaborators, they seek individuals who embody the spirit of the future.