Louis Farrakhan is an American religious leader who has a net worth of 5 million dollars. He made his fortune through his brief music career. Additionally, he has served as the leader of the Nation of Islam movement for many years, gaining not only national fame but also financial success as well. He joined the movement in 1955 and has witnessed a change in ranks over the years.
Early Life
Louis Farrakhan was born Louis Eugene Walcott in The Bronx, New York City. His family later moved to Boston, where he lived for most of his life. As a young boy, Louis was interested in music, receiving his first violin at 5. At the age of 12, he had already gone on a tour with the Boston College Orchestra.
He participated in various competitions, most of which he won. Additionally, he appeared in Ted Mack’s Original Amateur Hour, becoming the first black performer to achieve that feat.
Music Career
After college, Farrakhan decided to pursue a music career; he went on several tours, touring the midwestern and northeastern United States. At this time, he was earning about 500 dollars a week, and he used the stage name Calypso Gene. In the early 1950s, Farrakhan released several funny tunes; some of these tunes had sexist lyrics and overtones. In 1955, after joining NOI, he put aside his music career. However, he returned to the music industry in 1993 as he made various performances.
Relationship With Muammar Gaddafi
Farrakhan had a close relationship with the late Muammar Gaddafi; the late president did several financial favors, and this had an influence on his financial standing. He took a loan of 5 million from the Lybian president; the money would be used to create a firm for black employees.
Over a decade later, Gaddafi offered to transfer 1 billion dollars to Farrakhan to do various economic activities for the betterment of the lives of Blacks in America. Gaddafi has also offered to give Farrakhan a personal token of 250, 000 dollars. Both these transfers were blocked due to animosity between Lybia and the USA. The United States claimed that Lybia was linked to terrorism, and as such, the transfer did not happen.
NOI
Farrakhan joined NOI in 1955; he went through the process of registering as a Muslim, and by July 1955, he had been approved as a Muslim. After nine months, Farrakhan became an assistant minister, and he went on with his ministering up to 1980, a year before he became the leader of the Nation of Islam movement.
Real Estate
Farrakhan has not made many real estate investments. However, he owns a mansion that has 21 rooms in Woodlawn, Chicago. The house was a gift from Elijah Muhammad. This house contributed to his net worth, and currently, it is worth millions.
In general, Louis Farrakhan has made his fortune mainly through his role as the leader of the Nation of Islam movement. Additionally, he made some money through his early music career, and this contributed to his overall net worth.
