What is Clarence Avant’s Net Worth?
Clarence Avant, the American music executive and film producer, has a net worth of $50 million dollars. He has helped launch the careers of many musicians, including Janet Jackson, during his multi-decade career.
Clarence is often referred to as “The Black Godfather” or “Godfather of Black Music” due to his extensive business and personal connections. He is known to be a mentor or friend to many, including Barack Obama, Diddy, Jimmy Carter, Bill Clinton, and Quincy Jones.
Clarence has long advocated for artists to own their master recordings and receive fair compensation for their work. In 2019, he was the subject of a Netflix documentary titled “The Black Godfather.”
Early Life of Clarence Avant
Clarence Avant was born on February 25, 1931 in Climax, North Carolina. He was the oldest of eight children.
At the age of sixteen, Avant moved to New Jersey to escape an abusive stepfather. He moved in with an aunt and began working at Macy’s.
Clarence’s Music Career
Clarence’s music career started in the 1950s as the manager of Teddy P’s Lounge in Newark, New Jersey. He later managed several performers, including Little Willie John, Sarah Vaughn, and Tommy Wilson.
Joe Glaser, who managed Louis Armstrong from 1935 until his death in 1969, was one of Clarence’s early music mentors.
Clarence Avant’s Move to California and Career as a Music Executive
In 1967, Clarence Avant moved to California to work for Venture Records, founded by Mickey Stevenson. Initially living in Baldwin Hills, he later moved to Beverly Hills with the help of mentor Joe Glaser’s financial assistance. After Venture Records shut down, Clarence brokered the first deal between an African-American artist and a major record company. He also helped negotiate the sale of Stax records to Gulf & Western, receiving a 10% fee for his work.
Clarence Avant’s Record Label Ventures
After Venture shut down, Clarence launched Sussex Records, Inc. Unfortunately, the label went out of business in 1975 due to Clarence over-extending himself with the purchase of a radio station, among other ventures. The IRS seized and auctioned his assets to cover a $480,000 tax bill, which would be equivalent to around $2.3 million today.
Following Sussex’s failure, Clarence launched a new label called Tabu Records, which went on to have a number of smash hit artists, such as The S.O.S. Band and producers Jimmy Jam and Terry Lewis, who worked with Janet Jackson and helped launch her career to the stratosphere.
Clarence continued to work as an executive and consultant for multiple record labels and production companies. Currently, he serves as the President of multiple music publishing companies.
Avant Garde Broadcasting: The First African American Owned Radio Station
In 1971, Clarence founded Avant Garde Broadcasting. Two years later, Avant Garde made history by launching the first African American owned radio station. The company had paid $321,000 for a radio license from a defunct station. However, the success was short-lived as Avant Garde declared bankruptcy in 1975. The company’s debts exceeded $600,000.
Tragic Death of Jackie Avant
Clarence Avant, the music executive and legendary power broker, was married to Jacqueline Alberta Gray in 1967. Together, they had two children. Their daughter Nicole is a former US Ambassador to the Bahamas and is currently married to Netflix executive Ted Sarandos.
On December 1, 2021, tragedy struck when Jackie Avant was shot and killed during a home invasion. The details of the incident are still under investigation, but the Avant family has released a statement asking for privacy during this difficult time.
