Metro Boomin net worth: Fortune explored as Producer’s yacht reportedly goes up in flames outside Miami strip club

Music producer Metro Boomin's rental yacht reportedly went up in flames in the dock area of Miami, Florida, on January 19, 2025, at 3:30 am. The fire erupted in a dock outside the popular Miami strip club Booby Trap on the River, and it forced the producer to evacuate the 95-foot luxury craft.

Michael Marhefka, Director of Security at Booby Trap on the River, stated in a press release:

"Around 3 o'clock the boat arrived, it was Metro Boomin. The boat pulled up and they were on the boat maybe 30 minutes at the dock and we noticed what sounded like fire alarms going off. When we looked at the boat we did see some smoke inside the boat. We made the determination to evacuate the boat immediately."

No injuries or deaths have been reported in the incident, and Metro Boomin has not responded to the incident as of the writing of this article. While it is unclear where he rented the yacht from, the average cost of a rental luxury yacht like the one that caught fire is around $2,000-3,000 per hour, depending on where the yacht was rented. The price of such a yacht is even higher, at anywhere between $10 million to $15 million or more.

The price is a quarter of the reported net worth of Metro Boomin, which, as of the writing of this article, is around $40 to $45 million, with the record producer's net worth expected to climb further after the sale of a portion of his catalog in 2023 for $70 million.

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Metro Boomin's net worth comes primarily from his music

Metro Boomin's net worth is primarily derived from his music career. Both the producer's solo studio albums, as well as his collaborative albums with Future and 21 Savage, have done well commercially, with platinum, gold, or silver certifications.

Alongside these projects, the producer also has three mixtapes, a collaborative EP, and the soundtrack album Metro Boomin Presents Spider-Man: Across the Spider-Verse (Soundtrack from and Inspired by the Motion Picture)under his belt. All these projects have also been relatively successful.

According to RIAA certification standards, the minimum requirement for platinum certification is 1 million units sold for albums, while gold is set at 500,000 units sold. The US RIAA does not have a silver certification. In Britain, a silver certification requires 60,000 units sold.

Industry reports published on the process behind royalty payments suggest that an average platinum record may net an artist anywhere between $500,000 to $15,000,000, depending on the album's price and the royalty percentage negotiated by an artist or band.

Average royalty rates fall between 10% to 15% of total revenue, the calculation of which is not linear. Calculation of royalties, as per an article by How Stuff Works on May 23, 2023, involves the difference between domestic and foreign prices, the recouping of any advance made by the producer as well as the deduction of any additional costs.

The producer's albums thus constitute his major source of income, but he also has his own music label, Boominati Worldwide, which is an imprint of Republic Records. Boomin also has a $4.9 million home in Bell Canyon, California. Metro Boomin was also on projects like James Blake's fourth studio album, Assume Form, as well as works by Joe Moses, Jay Rose, and Cece, all of which contribute to his net worth.