What is Net Worth? Uses of Net Worth
Net Worth is the combination of two words (Net Worth) that carry equally meaning. It is mostly referred to as financial assets. Nut Net Worth is about financial or Non-Financial assets that are owned by an individual or by a company or firm. Mostly this word is used for most famous persons like singers, politicians, businessmen and many more.
But the main purpose of this statement is to collecting, analyzing and summarizing assets that are owned by one person or company. It is also for annual balance sheets and income statement preparation. So it plays an important role in legal documents. Additionally, it is also shown that how much a person is rich? It includes all assets like houses, cars and bank balances.
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It is also used to show the assets and liabilities of a person. It also helps the government to record data about national wealth. It also controls the illegal activities of wealth in the country. Every famous person is responsible to submit it every year to the government for his records monitoring. It also helps to make the tax ratio according to people’s wealth power. It shows the nation’s wealth correctly. So it can be said that Net Worth is an important document or statement which helps the peoples and government institution to maintain wealth in the country.
Smokey Net Worth 2021: $150 Million
Smokey is a well-known American singer, record producer and songwriter. He was of poor background and his father was African American and his mother had French ancestors. He was born north of Detroit. In 2021, the total estimated net worth is almost $150 Million.
He was nicknamed “Smokey Joe” by his uncle Claude. He was very interested in academics and was an athlete and in his high school. His love of music began in high school where he founded a doo-wop group called Five Chimes. While living in Belmont, he was a neighbour of the famous singer Diana Ross.
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His passion for music was inspired by Nolan Strong and Diablos. He compiled the Five Chimes line in 1955 where he included his childhood friend Ronald White and Pete Moore. Two years after its inception, the trio renamed it Madeors after adding three more members Bobby Rogers, Emerson Rogers and Marv Tarplin.
The group later renamed the group the Miracle. Smokey Robinson’s value is estimated at $150 million for his contribution to the music industry.
Smokey Robinson and his band scrutinized many record labels but failed to find anyone who sponsored their songs. He met famous songwriter Berry Gordy who impressed Smokey’s voice and writing skills.
He then went to college to study electrical engineering in 1959. After the release of their first song, he left college to study music professionally. Smokey Robinson’s value gained momentum after the launch of the first track. Gordy established Tamla’s records which were later renamed Motown records. The band’s first song “Shop around” became the first official label of the label and became a quick hit.
Smokey made a name for himself as a famous vocalist in the 1960s and 1970s. He became vice president of records in Motown in the 1960s but in 1969 he wanted to leave his party to raise his two children. He stayed with the group until 1972.
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He stayed away from the media for a year after which he announced his return as a solo artist by releasing his 1973 album “Smokey”. Hi, the second album “Purely Smokey” was released in 1974 but failed to catch the attention of the audience and opened up some negative reviews.
The Beatles were very inspired by Smokey’s work and even paid tribute to him by singing his famous song “Purely Smokey” on their album. He then released another album in 1975 entitled “A Quiet Storm”. The album has taken Smokey Robinson’s net to a whole new level. He has given many hit songs such as “Cruisin ‘”, “Being with you” and “Just seeing him”.
Smokey married fellow member Claudette Rogers in 1959 when she had a son named Berry and a daughter named Tamla. He named his son after Motown founder Berry Gordy and named his daughter Tamer Berry’s first records.
Her illegitimate son Trey was born in 1989 to another woman out of wedlock. She was with him when he married Claudette. She filed for divorce after disclosing additional marital status to Claudette in 1986. He sang the song “The Agony & the Ecstacy” during his breakup with his wife.
He is a believer in Transcendental Meditation. He has green eyes that he found on his mother’s side. Smokey Robinson’s price includes his famous album and the money he earned while being vice president of Motown Records.