Top 5 Billionaire Musicians
How They Built Their Fortunes
As of 2024, only a select few musicians have achieved billionaire status, a testament to their success both inside and outside the music industry. Here’s a look at the top five and how they accumulated their wealth:
1. Selena Gomez – $1.3 Billion
Selena Gomez, a newly minted billionaire as of September 2024, owes most of her fortune to Rare Beauty, her thriving makeup brand. Rare Beauty's products, like its cult-favorite blush, earned $70 million in 2022 alone.
Beyond her beauty empire, Gomez is an accomplished actor and producer. Her Hulu series Only Murders in the Buildingcontinues to thrive, and she produces projects like Selena + Chef. While she has stepped away from music for now, her multifaceted career has solidified her billionaire status.
2. Jay-Z – $2.5 Billion
Jay-Z’s journey to mogul status spans decades. He founded Roc-A-Fella Records in 1995 and has since diversified into numerous ventures, including sports agency Roc Nation Sports, streaming service Tidal (sold for $149 million), and stakes in Armand de Brignac champagne and D’Ussé cognac. His music catalog and entrepreneurial ventures have made him one of the wealthiest musicians ever.
3. Taylor Swift – $1.3 Billion
Taylor Swift’s billionaire status comes entirely from her music and related endeavors. Her Eras Tour was the first in history to gross $1 billion, and she has made waves with merch sales, real estate investments, and a groundbreaking distribution deal for her concert film with AMC. Swift remains a standout for building her fortune purely through her artistry and smart business decisions.
4. Bruce Springsteen – $1.1 Billion
“The Boss” joined the billionaire ranks in 2023, largely due to his 2021 sale of his music catalog to Sony for $500 million. Additionally, his tireless touring schedule continues to bolster his income, with the 2023 Tour running until mid-2025. Springsteen's relentless dedication to his craft ensures his net worth will only grow.
5. Rihanna – $1.4 Billion
Rihanna’s billionaire status stems from her two business ventures: Fenty Beauty and Savage X Fenty. Co-owned with LVMH, Fenty Beauty has expanded to include skincare, fragrance, and haircare, becoming a major success since its 2017 launch. Additionally, her lingerie brand Savage X Fenty has solidified her place in the fashion industry. While Rihanna hasn’t released an album since 2016, her entrepreneurial endeavors have kept her at the top of the wealth charts.
A Common Theme
For these musicians, success extends beyond their music. From makeup to lingerie and catalog sales, diversifying into business ventures has been a key strategy in building lasting wealth. Their ability to blend artistry with entrepreneurship sets a new standard for financial success in the entertainment world.