Source of Wealth:Music, Record Label
Birth Place:Merrick, Long Island, NY
Date of Birth:March 2, 1962
Occupation:Founder, Chairman and Chief Executive Officer of SRC Records
Steve Rifkind is an American music entrepreneur with an estimated net worth of $200 million. He has earned his net worth as the Founder, Chairman and Chief Executive Officer of SRC Records, Vice President of Universal/Motown Records, and his investments in the Coalition Music Group.
Born on March 2, 1962 in Merrick, Long Island, New York, Rifkind is the son of Jules Rifkind of Spring Records, whose clients included James Brown and Millie Jackson. The younger Rifkind had an early affinity to R&B and Rap music. He worked for his father as a promotion man on “King Tim III (Personality Jock)” by the FatBack Band in 1979. It was widely recognized as the first rap song ever recorded, having beaten Sugarhill Gang’s “Rapper’s Delight” into record stores by weeks.
Rifkind left Spring Records and relocated to Los Angeles where he managed the R&B group New Edition between 1986 and 1988. In 1991, he founded Loud Records and became its CEO. He was responsible as a major tastemaker in the new era of hip hop music and culture. The record label focused on “street-themed” hip hop. He has discovered and signed several hip hop stars in the early and mid-90s including Wu Tang Clan, Mobb Deep, Three 6 Mafia, Akon and Big Pun.
The record label led to his launching of SRC Records. With this, he has also launched marketing campaigns for several companies including T-Mobile, Adidas, SanDisk and Chief Executive Air, a charter jet company.