Showing posts with label Berry Gordy. Show all posts
Showing posts with label Berry Gordy. Show all posts

Berry Gordy


Born: November 28, 1929, Detroit, Michigan,

Company: Motown Record Corporation,

Industry: Media,

Position: Founder,

Country: United States




Berry Gordy, Jr.is the founder of the Motown Records, one of the most successful black owned companies in the United States.

In 1960 at the suggestion of friend, William "Smokey" Robinson, Gordy borrowed ~ $800 from his father and formed his own company to manufacture and market records.

Motown Records was headquartered in a row house on Detroit's West Grand Boulevard, where Gordy slept on the second floor and made records on the first.

In time the company expanded, with nine buildings on the same street housing its branches: Jobete, music publishers; Hitsville USA, a recording studio; musical accompanists; International Talent Management Inc; the Motown Artist's Development Department (the embodiment of Gordy's personal interest in his performers, where they were taught to eat, dress, and act like polished professionals); and the Motown Record Corporation, an umbrella for several labels of Motown, including Gordy, Tamla, VIP, and Soul (the last being reserved for the hit song-writing machine of Brian Holland, Lamont Dozier, and Eddie Holland).

His gift for identifying and bringing together musical talent, along with the careful management of his artists' public image, made Motown initially a major international success. Over the next decade, he signed such artists as Mary Wells, The Supremes, Marvin Gaye, Jimmy Ruffin, The Temptations, The Four Tops, Gladys Knight & the Pips, The Commodores, The Velvelettes, Martha and the Vandellas, Stevie Wonder, Rick James, and The Jackson 5.

Gordy sold his interests in Motown Records to MCA and Boston Ventures on June 28, 1988 for $61 million. He also later sold most of his interests in the Jobete publishing concern to EMI Publishing.
Tags: Entrepreneur Hall of Fame, Entrepreneur Male, Film & Television, Music, United States

Berry Gordy

Net worth: $325 million
Source of wealth: Motown, Jobete
Residence: Los Angeles
Age: 79




Music pioneer put away his boxing gloves for songwriting at age 20. Borrowed $800 from parents to build his own record label. Created Motown Records in Detroit. Wrote hit songs ("Lonely Teardrops," "I'll be Satisfied"), managed talent (Jackson 5, The Supremes, Smokey Robinson, Lionel Richie, Stevie Wonder). Known for running Motown's record production like an assembly line, emulating Detroit's Big Three car companies; fought numerous lawsuits brought by recording artists and songwriters alleging unpaid royalties throughout career. Sold Motown Records in 1988 for $61 million; later sold Jobete Music Corp. in installments to EMI Music Publishing for more than $300 million combined. Hit movie Dreamgirls said to be loosely based on Motown; Paramount Pictures and Dreamworks issued an apology to Gordy in 2007 for any confusion the fictional story might have caused regarding Motown's legacy.