American-born Steve Stoute is an entrepreneur and former executive of a record label. Stoute is the founder and CEO of the marketing agency he named the Translation, and the author of The Tanning of America: How Hip-Hop Created a Culture That Rewrote the Rules of the New Economy. He has prior experience working for American record companies in managerial and executive capacities.
What is the Net Worth of Steve Stoute?
Steve Stoute has built a net worth of $55 million, making him a shining example of the success that the American dream can bring to fruition. He has a diverse professional background that includes stints in advertising, business, and, most famously, the executive ranks of the American recording industry. He spent about 9 years as an executive for various big record labels including Interscope, Geffen, A&M, and Sony. While employed at Interscope, he contributed to the release of records by U2, Eve, Limp Bizkit, and Eminem.
Having cut his teeth in the music industry, he then moved on to the advertising world. Many people believe he was instrumental in shaping the way today’s most popular companies and artists communicate with their audiences. His company, Translation, has connected McDonald’s, HP, and other brands with superstars like Beyoncé and Justin Timberlake. In 2009, the American Advertising Federation recognized Steve Stoute’s great contributions to the industry by inducting him into the Advertising Hall of Achievement.
In 2005, he also became CEO of Carol’s Daughter company, whose products include skin, hair, and nail care goods. Through his many connections, he was able to draw in high-profile investors like Will and Jada Pinkett Smith, Jay-Z, and Mary J. Blige. The list of events where Stoute has been a featured speaker includes the International Consumer Electronics Show, the Sundance Film Festival, South by Southwest (SXSW), Fast Company Innovation Uncensored, the American Advertising Federation’s ADMERICA, and the Cannes Lions International Festival of Creativity, to name a few. He seems to be in no hurry to slow down, and generally enjoys a very great life. Anyway, I think it’s great that he succeeded.
Steve Stoute Biography
Steve Stoute, a businessman and record label executive in the United States, was born on June 26th, 1970. Stoute is the founder and CEO of the marketing agency he named the Translation, and the author of The Tanning of America: How Hip-Hop Created a Culture That Rewrote the Rules of the New Economy. He has previous experience working as a record executive and artist manager in the American music industry.
Stoute raised $70 million from companies like Alphabet Inc. and Andreessen Horowitz to fund his 2017 music business, United Masters. Stoute co-founded the Foundation for the Advancement of Women Now (FFAWN) in 2008 with Mary J. Blige (FFAWN).
Steve Stoute: Career
Stoute worked as a music business executive for multiple labels between the years 1990 and 1999. Stoute held the positions of President of the Urban Music division and Executive Vice President of Interscope Geffen A&M Records. Stoute was head of Urban Music at Sony Music Entertainment, where he helped build Will Smith’s music career, before joining Interscope. Stoute has managed artists like Nas and Trackmasters, as well as Mary J. Blige.
Stoute was hit over the head with a champagne bottle by Sean Combs, then known as Puff Daddy, in April 1999. Combs was accompanied by three security. Stoute filed a lawsuit against Combs in June 1999, and the two eventually settled out of court for $500,000. Combs had asked that a certain cut of a Nas video in which he appeared not be shown, and Nas had refused.
Stoute received the American Advertising Federation’s Advertising Hall of Achievement Award in 2009, the industry’s highest honor for young advertising professionals under the age of 40. At the inaugural ADCOLOR awards ceremony in 2010, Stoute was honored as “Innovator of the Year,” an award created by the ADCOLOR Industry Coalition to celebrate and encourage diversity in the advertising, marketing, and media industries. Ad Age, the most prominent newspaper in the advertising and marketing industries, honored Stoute with the “Executive of the Year” award in 2013.
Carol’s Daughter is a brand of all-natural hair and body care products developed by Lisa Price in Brooklyn, New York. In 2005, Stoute was named the company’s Managing Director and Chief Executive Officer. The board of investors he assembled included Will and Jada Pinkett Smith, Jay-Z, Mary J. Blige, Jimmy Iovine, Tommy Mottola, and Thala. Mary J. Blige, Solange Knowles, Cassie Ventura, Selita Ebanks, Kim Fields, and Jada Pinkett Smith are all spokeswomen for the collection.
As it expanded, the company looked for opportunities to collaborate with other brands, such as Disney’s “The Princess and the Frog” for a line of children’s hair and body products and HSN for the debut of a fragrance co-created by Mary J. Blige. Among the many notable African Americans who have been interviewed and portrayed in the HBO series and book The Black List Project, he is a prominent character in the discussion of what it means to be Black in America.
In 2011, Gotham Books published Stoute’s debut book, The Tanning of America: How Hip-Hop Created a Culture That Rewrote the Rules of the New Economy. Using his extensive experience in the music business and brand marketing, Stoute tells the story of how street poetry set to beats became the new face of urban cool in this book.
The four-part VH1 Rock Doc “The Tanning of America: One Nation Under Hip-Hop” based on the book premiered in February 2014. The audiobook, read by Kerry Washington, was released in April 2014.
Stoute has spoken as a keynote or featured speakers at numerous prestigious events, such as the CES (Consumer Electronics Show), the Sundance Film Festival, South by Southwest (SXSW), Fast Company Innovation Uncensored, and the AAF’s ADMERICA.
He shared the main stage with Sean Combs in 2013 and Kanye West and venture capitalist Ben Horowitz in 2014 at the Cannes Lions International Festival of Creativity.
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