- 1 What country is OVO Energy
- 2 Is there a problem with ovo
- 3 Who are the Big Six energy suppliers in the UK
- 4 Who is better than OVO
- 5 Why is it called OVO
- 6 Is Drake a billionaire
- 7 Is OVO owned by Warner Bros
- 8 Is OVO Energy owned by SSE
What country is OVO Energy
OVO Energy is an independent energy technology company and supplier, headquartered in Bristol, United Kingdom and has 4 office locations across 2 countries; United Kingdom and Australia.
Is Ovo the same as octopus?
Octopus Energy OVO Energy: Verdict – Both Octopus Energy and OVO make an excellent choice of energy supplier. Each of them score very high in terms of customer service and have a great range of energy tariffs available. They’re also clearly dedicated to helping to create a cleaner future by providing and investing in renewable energy.
One area where these suppliers do differ quite a bit however is in the additional services that they offer. If you’re looking to take out extras like boiler cover along with switching your energy, OVO may sway it for you. Their prices are affordable, with some cover starting from just £13 a month, and the convenience of getting multiple services from one source is very attractive.
Looking for other supplier comparisons before you make your energy switch? Why not check out our SSE vs EDF guide to help you.
How much of OVO does Drake own?
LONDON, United Kingdom — Walking by OVO’s Poland Street boutique in London’s Soho is deceiving at first. From a distance, the high-gloss interiors — light plywood floors, marble dressing rooms, gold-plated clothing racks and a plethora of mirrors — of the label, which is backed by Canadian rapper Drake, resemble that of a luxury boutique.
But instead of $2,000 leather handbags, customers can find $35 acrylic-knit beanies, $50 cotton and jersey T-shirts and $160 hoodies displaying the OVO (October’s Very Own) golden owl logo. Brightly lit glass displays contain branded OVO keychains, beach towels, ash trays, notebooks, water bottles, phone covers and sneaker wipes.
On a regular weekday, the store is packed with young streetwear aficionados who have come not just to purchase products from the label’s latest drop, but also to hang out with staff and other like-minded members of the OVO tribe, which is rooted in appreciation for rap music, streetwear and contemporary art.
The opening of OVO’s London boutique in November 2017 drew a line of 400 people. Plenty of musicians and actors lend their names and famous faces to lines of apparel and trinkets. But the sense of community found at OVO shops is the secret sauce that Drake and business partner Oliver El-Khatib are using to build a streetwear empire that’s likely to clear $50 million in sales this year, according to a person familiar with the brand’s finances.
It’s a similar element that has helped to transform once-niche streetwear labels like Supreme into global brands. OVO Yorkdale store | Source: Courtesy OVO Yorkdale store | Source: Courtesy OVO Yorkdale store | Source: Courtesy “Our shops are the most authentic way to experience the brand and our products,” says El-Khatib. “Many of our staff are friends and have become crew members, which all makes for a unique, family-like atmosphere which consumers pick up on.” El-Khatib and a company representative declined to discuss Drake’s financial interest in the brand.
- Drake registered OVO as a business in California in 2015, naming himself as general partner before signing over that role to El-Khatib in a second filing later that year.
- In a May 2018 regulatory filing in the UK, Drake disclosed a 60 percent interest in the brand’s British subsidiary through a company he controls.
Although a company representative has confirmed that the global business is owned by El-Khatib, Noah “40” Shebib and Drake. El-Khatib met Aubrey “Drake” Graham in 2008 while working on the shop floor at Lounge — a popular Toronto boutique — which was frequented by the Degrassi actor-turned musician.
- And I formed a friendship right away and that snowballed,” says El-Khatib.
- At the time he wanted to transition into a music career, so he started doing photoshoots and experimented with a brand for himself outside of acting.
- I was there alongside him in its early stages.” They founded OVO as a MySpace page and later a blog where the two and their crew posted music, art, photography and fashion inspirations as well as their own work.
“It was an intimate platform to communicate directly with an audience, much like Instagram does today,” says El-Khatib. Drake released his first studio album, “Thank Me Later,” in 2010, which went platinum and debuted at number one on the US Billboard 200, catapulting the rap artist into global stardom.
- A year later the collective put out theirs first physical good, an OVO-branded tour jacket made in collaboration with Canadian outfitter Roots.
- We started creating product out of necessity,” says El-Khatib.
- There was a lot of travelling in different climates, so we needed practical, versatile garments that looked stylish while also being recognisable to security as well as at business meetings.” Owl-branded T-shirts, hoodies and hats quickly followed as did long-term collaborations with Nike’s Jordan brand, Canada Goose, Clarks, Timberland and artist Takashi Murakami.
https://www.instagram.com/p/BbmbgIWhbiL For Canada Goose, the collaboration is a means to reach OVO’s strong following — the brand currently has over 1.2 million followers on Instagram, El-Khatib has 150,000 and Drake has 47.8 million. The brand is also using the partnership to experiment with new fabrics and materials, including a $5,000 black leather, down-filled Chilliwack parka with 24-karat gold hardware.
- Canada Goose has released nine collections with OVO, more than any other brand.
- Not all celebrity clothing lines work out, but we agreed that if done right it was possible for OVO,” says Dani Reiss, chief executive at Canada Goose.
- Every collaboration we’ve done with OVO has been a strong success, and it often sell out in hours, if not minutes, across all of our channels.” While fashion is OVO’s biggest source of revenue, the company’s music and arts projects play an important role as well.
OVO Fest, an annual music festival started in 2010 hosted by Drake in Toronto, has featured performers including Kanye West, Eminem, Jay Z, A$AP Rocky and Kendrick Lamar. Drake, El-Khatib and producer Noah “40” Shebib, founded record label OVO Sound in 2012, which represents popular acts such as Majid Jordan and PartyNextDoor.
- A partnership with basketball team Toronto Raptors on the team’s alternate jerseys followed in 2013, as did its inaugural OVO basketball tournament.
- Then in 2015, it debuted OVO Sound Radio, a bi-monthly radio programme made together with Apple’s internet radio station Beats 1, which is hosted, curated and edited by El-Khatib and premieres at least one single in each broadcast including hit singles, “Hotline Bling,” “One Dance” and “Back to Back.” (Testament to OVO’s vertical integration strategy was Drake’s recent single “Nonstop,” in which he pays homage to the origins of the OVO business in the line: “Future took the business and ran it for me, I let Ollie take the owl, told him brand it for me.”) It really resonates in a fashion moment where standing out is way more important than fitting in.
“We’re still on a calendar like every brand but we have more flexibility to create our own moments and capitalise on them much faster,” says El-Khatib. “That’s the beauty of how we structure our business and ecosystem. I think a lot of conventional brands strive to have these types of moments but they’re going after third party events.” By mostly being a direct-to-consumer business that isn’t reliant on wholesalers, OVO has a competitive advantage over traditional fashion brands.
- Sales are evenly split between its stores and its website.
- When the company wants to launch a product, release a new track by one of its artists or announce a collaboration, its global reach and direct line to its loyal consumers allow it to do so themselves — comparable to Kanye West’s Yeezy line and A$AP Rocky’s AWGE.
“The most impressive part of OVO’s growth is how steady it’s been,” says newly appointed American GQ editor-in-chief Will Welch, who has followed OVO’s ascent since its early days. “The models in the lookbooks, campaigns and social media blasts are Toronto kids who work for the brand or are affiliated with the crew. OVO | Source: Courtesy of OVO OVO | Source: Courtesy of OVO OVO | Source: Courtesy of OVO Welch also names the consistency of OVO’s product offering and its communications, as well as not relying too heavily on the Drake affiliation, as other success factors.
- Most brands wouldn’t have been able to pass up the opportunity to quickly move a bunch of products by plugging into the celebrity complex, but OVO has stayed focused on its founding vision.
- I think that’s incredibly smart and patient — and it’s only just beginning to pay off.” With a foundation in place, OVO is now ready to expand its retail network.
In recent years, the brand has tested pop-up collaborations with Colette, Nordstrom and Browns, Its first permanent brick-and-mortar shop in Toronto followed in 2014. Two more Toronto outposts were opened, as well as stores in Los Angeles, New York and London.
- El-Khatib says he plans to open stores in Vancouver and one in Mississauga, a Toronto suburb, and the first to carry OVO childrenswear, by the end of the year.
- The investments in retail expansion are absolutely necessary for our long-term strategy, it’s a big focus for us right now,” he says.
- On luxury fashion’s increasing integration with streetwear, El-Khatib offers a word of advice.
“It’s exchanging strategies between luxury and and contemporary brands like ours. In 2018, a hybrid-approach is undeniably needed,” he says, explaining the powerful marriage between year-round “essential products” and seasonal product drops. “Traditional luxury brands are now building smaller product drops to energy moments into their calendar.” Related Articles:
How is OVO funded?
OVO Energy is funded by 3 investors. Morgan Stanley Investment Management and Mayfair Equity Partners are the most recent investors.
Is there a problem with ovo
Ofgem orders Ovo to improve customer service after ‘serious concerns’ raised
- Ofgem has ordered Ovo Energy to improve its customer service after it received “serious concerns” over the gas and electricity supplier’s handling of complaints.
- The energy regulator for Britain said it had told the UK’s third largest gas and electricity supplier to take action after it was alerted to the fact that problems remained unresolved and households faced lengthy waiting times to contact the company.
- The concerns were raised by Citizens Advice Scotland and the Energy Ombudsman, which works to resolve disputes between suppliers and brokers and their customers.
- Ofgem said the ombudsman had concerns that Ovo had not implemented remedies the dispute resolution service had suggested in order to improve the company’s complaints handling and that this situation had become “progressively worse over time”.
- The energy supplier has now been ordered to address all outstanding complaints and cut the amount of time it takes for problems to be tackled and could be fined if the issues are not addressed.
An Ofgem spokesperson said: “There are no excuses for poor customer service and Ofgem has made this clear to all suppliers. Where concerns are raised with us, we will follow up and take appropriate steps. “We will monitor the situation and expect to see things improve.
However, if they do not we will consider further steps, including the possibility of enforcement action and fines.” A spokesperson for the supplier said: “Ofgem did not identify any non-compliance from Ovo on this matter. We continue to place serious emphasis on the support we provide to our customers and have assured Ofgem of this.” Ovo has grown significantly over the last decade, including through, and now serves 4.5 million customers.
This summer, Ovo and rival supplier Good Energy to pay £4m for overcharging thousands of households on their bills by breaching the government’s energy price cap. Sign up to Business Today Get set for the working day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties.
- Ovo has also who were wrongly billed and in dealing with a customer’s meter readings before her death.
- Last month, the Ovo shareholders Mayfair Equity Partners and Morgan Stanley Investment Management invested an extra £200m, reducing the stake of the energy firm’s billionaire founder, Stephen Fitzpatrick, in the process.
- A of Fitzpatrick’s ventures by the Guardian in May revealed he had quietly transferred control of Ovo during the energy crisis; had taken a significant hit to his wealth from his flying taxis venture, Vertical Aerospace, and had shut down a project designed to share his business acumen with other companies.
: Ofgem orders Ovo to improve customer service after ‘serious concerns’ raised
Is OVO 100% renewable?
By switching to electric cars and e-bikes, we’re all making moves to reduce the impact of our journeys on the environment around us. But, to truly counter the increasingly concerning effects of climate change, it’s becoming clear that we might need to go one step further and start putting something back.
- That’s why, since 2015, OVO Energy has been planting at least one tree a year for each and every one of its UK home energy customers.
- By working closely with respected organisations such as the Woodland Trust and The Conservation Volunteers, they’ve been busy planting trees all over our towns and cities, turning the grey green, with nearly three million trees planted to date.
So why is an energy company placing such a focus on trees, and what difference can it actually make? We caught up with the key figures behind the initiative to find out. Find out more about OVO Energy’s Planting Promise From cutting carbon to planting trees Since 2009, OVO Energy has been wholly focused on making home energy cheaper, greener, and simpler for all, with an overarching goal of being a net zero carbon emissions business by 2035. According to OVO Energy, 26% of our carbon footprint comes from the energy we use at home.
So, by offering 100% renewable electricity to customers with a smart meter* and tools to track your energy usage OVO can help customers create a greener energy system. By thinking bigger, though – by treating its customers as an engaged community with a shared invested passion for sustainable living and by following the philosophy that the best way to encourage climate action is through education – OVO Energy has come up with ways for its customers to be even more proactive in reducing their carbon footprint.
Introducing OVO Energy’s Planting Promise: a project managed in partnership with The Conservation Volunteers which sees one million trees planted each year (500,000 with the TCV directly), and which has run since the start of OVO’s tree planting journey, growing in scale and impact with each year.
The programme engages customers at ground level – quite literally – in a way that provides something tangible that symbolises how OVO Energy is actively making a difference. And for every customer who signs up to OVO Beyond (more on that later), OVO Energy will level up their package with five trees planted on their behalf, helping them make an even greater contribution to cutting their carbon footprint.
What began as a one-year project with the goal of planting 150,000 trees quickly became an eight-year partnership and a massive three million+ trees planted to date. What have trees got to do with it? There’s no question that OVO Energy is serious about the issue of tree planting: even approaching the government directly to enshrine a tree planting target in law.
But why trees? Well, the answer is refreshingly simple. We can’t live without them. “Trees are a tangible thing that people can relate to that adds value to everything we do” says OVO Energy Partnership Manager Alex Moczarski. “There’s a myriad of benefits to trees. They’re a great way of storing carbon dioxide and combating the effects of climate change, and a great way of creating more space for biodiversity.
In light of the UK’s recent heatwave, they also provide shade which is as good for us as it is for every other living thing.” Trees don’t merely benefit the natural world. They also benefit our mental and physical health too. According to the European Environment Agency, for every 10% increase in green spaces around us we get an equivalent increase of five years of life expectancy, thanks to the associated reduction in illnesses and disease. Power in the partnerships The idea of an energy company and conservation companies working together seems like an anathema. But, for The Conservation Volunteers, OVO Energy’s uniquely focused and unwavering commitment to green energy and eco-awareness was key.
- We liked the way that OVO Energy thought: how they wanted to be different, more honest and more open in how they were going to promote their green tariffs,” says Douglas Palarm, Director of Partnerships and Fundraising at The Conservation Volunteers.
- We also liked the way they were engaging the public.” “When OVO Energy came to us, they didn’t really have an agenda.
It was very much a case of: ‘What can we do with you? How would we plant these trees? What might be the benefit?’. We said we’d rather plant trees in an urban setting – that’s really important to engage people to get involved themselves – and they were super supportive of that.” “It was that combination of connecting people in green spaces – this ability to bring people together, to galvanize them to do this.
It was just a fantastic win, win for both sides.” Helping customers get actively involved OVO Energy’s Planting Promise encourages customers to get actively involved – creating opportunities for tens of thousands of people to get out and plant trees themselves, reconnect with nature and raise awareness on a scale never before seen in the energy space.
“Planting a tree on behalf of a customer is a great way to start the conversation around green energy”, says Alex. “But, when you provide the means for them to plant trees themselves, the customer owns that space, they buy into it more, they nurture it, and it does the same for them in return.
They understand the benefits they get from green spaces because they’ll feel it first-hand.” That positive feedback loop in terms of energy and climate education – building to something that’s far greater than the sum of its parts – has been a key outcome of the Planting Promise for both OVO Energy and The Conservation Volunteers.
“It’s all about bringing people together to care for green spaces for the benefit of both individuals and the environment” says Douglas. “We call it stealth health: you’re physical, you’re active, you’re engaging with one another and you’re making a difference.” “The negativity around climate change can often be quite overwhelming.
- It’s the ‘What the heck can I do to change this?’ mentality.
- If you’ve got half an acre of back garden, you might be able to plant some trees.
- But if you’re living in a flat in a big city, you may think: ‘What difference can I really make to this global challenge? To come out with The Conservation Volunteers, to actually plant a tree – or 10 trees – it’s something that anybody can get involved in and say: ‘You know what, I can make a difference to this’.” And while the three million trees that OVO Energy and its partners have planted to date may only be a fraction added to the UK’s estimated three billion trees (around 45 per person), it amplifies the fact that every positive action starts a journey that only grows in scale.
“Planting trees isn’t the only answer to mitigating climate change, but it’s a big one,” says Douglas. “The trees we plant today, tomorrow, and next year will provide a carbon store for the next 70 to 100 years. So, they will absolutely make a difference in the long run” OVO Beyond: a bigger step beyond tree planting OVO Energy was founded on the idea that customers will want a supplier that helps them cut the impact of their home energy – hence the concept of supplying every customer with electricity from renewable sources.** But, OVO Energy can also offer options for customers who want to go one step further to increase their carbon cutting commitments.
Meet OVO Beyond. By offsetting the emissions of transmitting electricity and gas to and from your home, OVO Beyond provides truly 100% carbon-neutral electricity**** from renewable sources (including wind and solar), and 100% carbon-neutral gas (including 15% green bio gas). And don’t forget the five additional trees planted on your behalf as part of the expanded OVO Beyond package.
“A customer opting for OVO Beyond is supporting the fantastic work our partners are doing to plant trees and receive carbon neutral electricity and gas for their home”, Alex explains. With Plan Zero, OVO Energy’s sustainability strategy in direct response to the climate crisis, OVO wants to mobilise its customers to create a ‘zero carbon community’ – helping them eliminate their household emissions completely and significantly reduce their carbon footprint by 2035.
And that’s why OVO Energy’s Planting Promise is so important. By making us more aware and more responsible for the energy we consume, and by creating a negative feedback loop within its customer base, it proves that you can stimulate fundamental change within society. No wonder this impressive eco-initiative continues to grow year on year.
*From 1 October 2022, 100% renewable electricity is only available to members who currently have an electricity smart meter or who have a smart meter installed. To book a smart meter installation or for more information, head here. Not all members may be able to have a smart meter installed.
Terms and eligibility criteria apply, please see here for details. If you are on a fixed contract you will still receive 100% renewable energy until the end of your contract. The renewable electricity we sell is backed by renewable certificates (Renewable Energy Guarantee of Origin certificates, also known as REGOs).
Get more details on REGOs and how these work here. A proportion of the electricity we sell is also purchased directly from renewable power generators in the UK. **Renewable electricity is cleaner than traditional electricity sources because it produces less carbon emissions and pollution.
- The renewable electricity OVO Energy sells is backed by renewable certificates (Renewable Energy Guarantee of Origin certificates (REGOs)).
- The renewable electricity OVO Energy sells is backed by renewable certificates (Renewable Energy Guarantee of Origin certificates (REGOs)).
- See here for details on Renewable Energy Guarantee of Origin certificates and how these work.
The green gas we sell is backed via renewable certificates (Renewable Gas Guarantees of Origin (RGGOs))
Does Drake own OVO?
7. Does Drake have his own label? – Yes. The record label Ovo Sound was founded by the ‘Duppy Freestyle’ star in 2012 and is a collaborative project with friend Noah ’40’ Shebib and Oliver El-Khatib. Drake himself is still signed to Lil Wayne’s label, Young Money.
Who is the best energy supplier?
Scores for January to March 2023
|1||Octopus Energy||3.65 ★★★★★|
|2||Shell Energy||3.5 ★★★★★|
|3||Outfox The Market||3.35 ★★★★★|
|4||Affect Energy||3.25 ★★★★★|
Who are the Big Six energy suppliers in the UK
Overview Editor’s Picks Statistics
The Big Six is the nickname given to the six largest energy suppliers in the United Kingdom: British Gas, EDF Energy, E.ON, Npower, Scottish Power, and SSE. With the acquisition of Npower by E.ON in November 2019, the Big Six has since effectively become a big five.
Who is better than OVO
Customer service – Winner: Octopus have lower complaint figures and perform well in other research too. Ofgem keeps track of the number of complaints each energy supplier receives per 100,000 customers. As we can see from the table below, OVO’s complaint levels are four or five times those of Octopus’s:
|OVO Energy||Octopus Energy|
The differences in complaint levels alone are stark, but we also have other data putting Octopus ahead of OVO in terms of customer satisfaction. Citizens Advice use complaint figures combined with other metrics to compile their quarterly customer service tables.
|OVO Energy||Octopus Energy|
|Overall rating (out of 5)||3.1||4.15|
|Complaints to third parties||25.6 per 10,000 customers||12.7 per 10,000 customers|
|Customers who had an accurate bill at least once a year||91.5%||99%|
|Emails responded to within 2 days||50.3%||61.2%|
|Average call centre wait time||2 minutes 46 seconds||2 minutes 3 seconds|
Customers looking to get their calls answered within a few minutes will be happy with either provider, but Octopus pull ahead on other points, most notably their rate of complaints to third parties which is half that of OVO’s. It seems to be a combination of small factors leading to Octopus being rated more highly in the Citizens Advice data, but their ability to answer more emails within two days and provide accurate bills more regularly are undoubtably big ticks for customers.
There are other things to consider when looking at the customer experience. As both OVO and Octopus are relatively young companies, they don’t have as many historical fines the likes of British Gas and nPower do, but they have both been criticised by the regulator in recent years. Both suppliers were rebuked by Ofgem in March 2021 for breaching price protection rules while customers were switching to another energy supplier,
In January 2020, OVO agreed to pay £8.9m in refunds and redress following prolonged communications and billing issues dating back five years. One final point in Octopus’s favour: social media sentiment research from wordnerds put them top of the table, although there wasn’t much distance between them and OVO in 4th place.
Which is better Octopus or OVO?
Comparison Update for July: Octopus Intelligent offering peak energy at 30.5p and OVO at 30.22p (regional variations will exist) there is currently no significant difference between the two on daytime energy in your home, Octopus night rates are at 7.5p per kWh against OVO’s charging anytime rate of 10p per kWh.
- Our recommendation is OVO works if you can only charge during the day, otherwise it looks like Octopus Intelligent will bring more households greater savings.
- Background: Last year, Octopus Energy launched Intelligent Octopus, a tariff with a minimum six-hour off-peak window.
- You pay 7.5p/kWh for off-peak electricity in exchange for handing over the micro-management of your overnight charging.
This is lower than the 9.5p/kWh off-peak on the basic ‘time-of-use’ Octopus Go EV tariff. Plus, if Octopus starts your charging outside of the off-peak hours, you’ll get some bonus cheap home energy. Meanwhile, OVO’s electric car tariff, Charge Anytime, is a ‘type-of-use’ tariff just for your EV, with a charging rate of 10p/kWh.
- You’ll get this rate no matter when your car charges if you use their scheduling app and allow them to manage charging around your life.
- OVO Energy’s EV tariff Charge Anytime works with any of their available tariffs, even the basic SVT (the default Standard Variable Tariff).
- The downside of OVO’s new electric car only tariff is that you’ll only get your EV charging at the cheaper rate.
All your home electricity use is charged at your standard unit price.
Why is it called OVO
Meaning and history – In addition to the explanation given above, there could have been other reasons for choosing an owl. Similar to Drake, owls are nocturnal creatures (Drake mentioned that it is at night that he “comes alive”). The owl symbolizes wisdom, which may imply that Drake’s music has a deeper meaning to it.
Is Drake a billionaire
Is Drake a billionaire? Rapper’s astonishing net worth revealed 11 August 2022, 11:53 Nicki Minaj and Drake chill out on the couch for IG live
- Drake is known for his smash hits, but how much money has he made?
- is one of the most recognisable rappers in the industry and in wider pop culture, thanks to his hits like ‘God’s Plan’ and ‘Massive’.
- He is one of the richest rappers in the world, and his lavish lifestyle seems to confirm this.
- Drizzy’s friend and fellow rapper might have accidentally slipped that he is indeed a billionaire.
The pair have been friends for over a decade. Picture: Getty Images In Nicki’s recent Instagram stories, Minaj was onboard Drake’s private jet and had a lot to say about Drake’s wealth status. “This is what happens when you got a rich – I’m sorry, a very rich, rich, rich, rich – Canadian friend. Nicki shared her thoughts on Drake in her IG stories. Picture: Instagram
- The ‘Anaconda’ rapper is rumoured to be worth $100 million in her music and other pursuits.
- She is one of the most influential female artists in Hip-Hop, and has been nominated for a Grammy ten times.
- Nicki catapulted her career in 2009 when Lil Wayne discovered her and signed her to Young Money.
- Nicki Minaj seemed to further confirm Drake’s wealthy status, after she liked a tweet which said “Shoutout to @drake for being a billionaire too, even though you ain’t want no one to know”, accompanied with multiple laughing face emojis.
- According to Celebrity Net Worth, Drizzy is only estimated to be worth $250 million in 2022, however with Nicki’s confirmation and recent album sales, it is likely to be a lot higher.
- Nicki is set to release her new single ‘Super Freaky Girl’ this Friday (12 August), and will also be honoured at this year’s VMA with the Video Vanguard award.
: Is Drake a billionaire? Rapper’s astonishing net worth revealed
Is Drake the richest?
The God’s Plan singer has been one of the most loved pop stars of all time. But, is he actually a Billionaire? Scroll on to know all about Drake net worth 2023. Written by Ayushi Balani Updated on Sep 13, 2023 | 12:02 PM IST | 1.6M Drake Net Worth 2023 With iconic pop songs like One Dance, God’s Plan, Nice For What, and the viral In My Feelings, Drake has been one of the most loved figures in the pop music industry. In fact, when it comes to contemporary pop playlists, they are pretty much incomplete without songs by Drake.
- The Canadian rapper has primarily been one the biggest stars in the music industry for decades now.
- Apart from being an incredibly beloved fan-favorite pop star of all time, he has even managed to earn a number of awards and accolades including more than one Grammy award.
- However, recently the star has been in the limelight for hinting at a possible retirement in a recent video interview on Twitter with rapper Lil Yachty.
The star has had one of the most lucrative pop careers of all time. In fact, when it comes to Drake net worth, he has been one of the highest-earning singers. Ahead, find everything you need to know about Drake, his net worth, his luxury lifestyle, expenses, career highlights, and a bonus list of the top most streamed songs by Drake.
Name : Drake or Aubrey Drake Graham Net Worth : $250 Million (Celebrity Net Worth) Date of birth : 24 October 1986 Place of birth : Toronto, Canada Gender : Male Height : 6 feet (approx.1.83m) Profession : Rapper, Singer, Songwriter, Actor Nationality : Canadian Salary : $40 Million + (Per Project) Monthly Income : $4 Million +
Aubrey Drake Graham, popularly known as Drake is one of the most well-known Canadian singers who is also a beloved rapper, pop star, and actor. Currently signed to Lil Wayne’s company called Young Money Entertainment, the man has been in the industry for years which has not only managed to fetch him hefty stardom and fandom but a huge net worth as well.
Is OVO profitable?
Friday 21 July 2023 11:33 am Ovo has posted a slump in profits and has raised funds from shareholders Two of Ovo Group’s (Ovo) largest shareholders have raised their stakes in the company with transactions worth £200m, which has been announced the same day the company revealed a hefty downturn in profits amid higher hedging costs for buying gas.
Long-standing backers Mayfair Equity Partners and Morgan Stanley Investment Management have both increased their holdings in the owner of the UK’s fourth-largest energy supplier by an undisclosed amount – buying shares from existing investors. Both groups have invested in Ovo Group since 2015, and are among a handful of shareholders including Mitsubishi Corporation, which took a 20 per cent stake four years ago.
Following the announcement, Stephen Fitzpatrick, the billionaire founder of Ovo, now has a reduced stake in the business – although its exact size has not been shared publicly. However, Raman Bhatia, chief executive of Ovo’s retail division, argued the investment highlighted the company’s “potential for growth” as it grows and innovates, despite challenging market conditions as the sector recovers from the energy crisis which saw 30 suppliers collapse.
He said: “We are in a solid position to create further value for customers, with a focus on continuing to invest in the technology and services that customers really need to decarbonise their homes.” The latest investment news was unveiled alongside a slump in profits, with Ovo confirming that earnings before tax nosedived 90 per cent to £20m for the full-year ending December 2022 – a sharp decline from £159m in 2021.
Its unadjusted results painted a starker picture, exposing a swing from a £335m profit in 2021 to a £1.3bn loss in 2022. But the company expected this to have “no cash impact” and “will reverse in future periods when customers use this energy”.
What company has OVO taken over?
‘What’s happened?’ In 2020, OVO Energy bought SSE Energy Services from SSE plc. So OVO Energy now supply energy and related services to all SSE Energy Services customers. So you can enjoy the benefits of this, we’re gradually moving all customers with household energy or boiler and heating cover to OVO Energy.
Which company did OVO take over?
Today (15 January), OVO Energy has completed its acquisition of supplier SSE’s GB household energy business. The acquisition was first announced in September, and approved by the Competition and Markets Authority (CMA) in December. The move will see OVO become the second largest supplier in the UK, with five million customers.
- It said that gaining SSE’s smart technology and exceptional talent in the form of its 8000 staff will help to accelerate OVO’s strategy to bring clean affordable energy to more households.
- OVO bought SSE Energy Services for £500 million, which comprises of £400 million in cash and £100 million loan notes.
These loan notes will be issued by a member of the OVO group, have an annual interest rate of 13.25% payable in kind and will be due in 2029 if they have not been repaid earlier. The transaction will be subject to a deduction of £59m reflecting debt-like items, SSE announced, including SSE Energy Services’ accruals in respect of the Capacity Market Mechanism.
- Stephen Fitzpatrick, CEO and founder of OVO said that this marks the end of one chapter for OVO but “more importantly, the beginning of the next one together with SSE Energy Services”.
- We have an integration plan that leaders from both companies have collaborated on since September.
- There is a lot of work to do to bring the two businesses together, but we have a really strong combination of great talent, technology and customer centricity that will enable us to succeed.
“SSE’s history of excellence at scale combined with OVO’s innovative technology and our Plan Zero commitments mean that together, as one team, we can bring millions more people with us on our journey towards zero carbon living.” OVO was formed in 2009, and has since grown to become the largest independent supplier in the UK.
- It has committed to eliminating its customer’s household emissions and fit five million homes with flexible, clean energy technologies as part of a wide-ranging carbon-cutting initiative dubbed ‘Plan Zero’ it announced in 2019.
- It has continued to grow over the last year, investing in clean energy marketplace Renewable Exchange and energy technology start-up firm Electron.
It also announced a partnership with automotive giant Mitsubishi motors last December. OVO also claims that it installed the world’s first domestic vehicle-to-grid charger in a customer’s home. The CMA launched an investigation into the company’s acquisition of SSE Energy Services in October, to ensure that it would not lessen competition in the UK.
Alistair Phillips-Davies, CEO of SSE said: “We are very pleased to have completed this transaction, which we firmly believe is the best outcome for the business, its customers and its employees. “The sale is in line with our clear strategy, centred on developing, operating and owning renewable energy and electricity network assets, along with growing businesses complementary to this core.
“SSE enters the new decade as a more focused group, even better positioned to lead the low carbon transformation required to achieve the UK’s vital net zero commitment in the years to come.” In a blog post today, Philips-Davies said that SSE’s strategic focus had shifted to developing, building and maintaining low carbon assets.
Is OVO a green company?
Energy that’s fit for the future – We use something called Power Purchase Agreements (PPAs) to buy green electricity from our community of renewable generators. Tell me more We know we need more green energy, and we want to help make that a reality. Our subsidy-free PPAs support independent renewable generators – like small businesses and community groups – to get their power on the UK grid. Tell me more If you’re an eco-pioneer and generate electricity from home, we want to pay you! Tell me more
Is OVO owned by Warner Bros
OVO Sound Canadian record label OVO Sound Founded2012FounderOliver El-KhatibStatusActiveDistributor(s)
- Foundation Media, LLC
Country of originLocation,, CanadaOfficial website OVO Sound (also known simply as OVO ) is a Canadian, founded in 2012 by rapper, producer, and manager Oliver El-Khatib. Between 2012 and 2022, it operated as a subsidiary of, The label represents acts including,,,,,,,,,, In-house producers include 40,,,, and DJ Prince.
Is OVO Energy owned by SSE
In 2020, OVO Energy bought SSE Energy Services from SSE plc. So OVO Energy now supply energy and related services to all SSE Energy Services customers.
Is OVO Energy a UK company?
OVO Energy is the largest independent energy supplier in Britain. Founded in 2009 by entrepreneur Stephen Fitzpatrick, OVO Energy redesigned the energy experience to be fair, effortless, green and simple for all customers.
Who is the biggest energy supplier in the UK?
Aiming to be net zero greenhouse gas emissions by 2045 British Gas is the UK’s largest energy provider. It supplied gas and electricity to more than 7.5 million customers in 2021, with a wide range of tariffs available.