If you're a fan of American music, you probably know Ray Charles. The late soul legend was responsible for developing the genre of soul music, which blends gospel and rhythm and blues. He is regarded as one of the greatest artists in history.

His net worth was estimated to be $75 million at the time of his death. This amount included $25 million from his original master recordings and another $50 million in securities, real estate, and other assets.

He also made a significant amount of money from performing on stage. He earned income from albums sold, tickets purchased from his performances, and royalties from songs he wrote.

Aside from his music, he also served as a philanthropist. He established the Ray Charles Foundation, which helps children with hearing and vision problems.

When he died in 2004, the foundation received most of his remaining assets. The charity currently has $41 million in assets and generates around $3 million in investment income each year.

The Ray Charles Foundation was founded in 1970. Its current director is Quincy Jones, who met Charles when he was a teenager.

His children inherited most of their father’s assets, including his master recordings and songwriting rights. However, a lawsuit filed by their manager prevented them from honoring their father’s life.

The lawsuit was settled in 2015 when a California court ruled that the children had violated their trust fund agreements. Consequently, their claim to Ray Charles’s intellectual property was denied.