A world’s richest musicians list makes for an interesting read. The artists that will likely come immediately to your mind will be wealthy beyond your dreams. But that wealth isn’t always as impressive when compared to the many other billionaires around the world.
A calculated estimate suggests there are over 2,500 billionaires worldwide. You’d expect that would include plenty of musicians. In fact, several more billionaires are making their money from cheese than music! According to one source, there were only two musicians with a net worth of $1 billion or more in 2023. That's looking likely to change though in 2024 with a few more joining that exclusive list.
There are lots of wild claims flying around, all seemingly in the know, on what musicians and others are truly worth. It's not easy to get all the information needed to calculate someone's net worth. And then just when you think you might have all the data, something changes. A new contract or deal, a plummeting business, reputational damage and market values rising or falling are all factors.
Ranking musicians net worth above and below $1billion
So let's split this list into two parts. The first covering musicians with a net worth is believed to be under $1 billion. It'll be based on looser figures, from a variety of less forensic sources, but still a decent indication of their current ranking and wealth.
Then a second section with all the musicians worth $1B and above. Taken from the Forbes Billionaires list, it has a lot more thought, data, and clever calculation behind the figures.
Rich musicians heading towards $1 billion net worth
Bubbling under this ranking list are several musicians with a wealth of around $400 to $500m. For example, Bruce Springsteen, Dolly Parton, Dr Dre, Julio Iglesias, Garth Brooks and Kanye West. Immediately above them are the seven artists below.
Elton John - $650m. A conservative figure likely to rise. The flamboyant singer and pianist will have banked even more in 2023 as his farewell tour continued until mid-year. Look out for an increase this year as that kicks in.
Bono - $700m. The U2 frontman is back in the public eye and earning well after their recent residency at the Las Vegas Sphere. Some estimates of his wealth are far higher. They tend to be wrongly based on an early investment made in Facebook, but that being shared with several others is often overlooked.
Celine Dion - $800m. Unfortunately, Dion has had to cancel stage appearances in recent years due to her stiff-person syndrome diagnosis. Recent public appearances showed her in a positive mood though. She is reportedly still hopeful of being able to perform again.
Selena Gomez - $800m. Gomez has combined acting, singing, producing, and developing her make-up business Rare Beauty. That's tipped to take off soon. We should expect Gomez to feature much higher in the future too.
Herb Albert - $850m. Albert is well known for his Tijuana brass band and many hit songs. What's often overlooked is that he is the A in A&M Records, which he founded in 1962 with Jerry Moss. Aged 88 he should have more than enough wealth for a comfortable retirement.
Madonna - $850m. Still influential and indeed busy. Madonna is currently on the North American leg of her Celebration Tour. It marks her amazing 4 decades of great music. The tour will no doubt be adding more to her wealth and she's another tipped to see her total rise further in 2024.
Paul McCartney - $950m. McCartney is yet another legend who has been touring recently. His Get Back tour closed in Rio De Janeiro in mid-December. Estimates are that a touring year brings him in around $50-$70m. His wealth is highly likely to exceed $1B in 2024.
Musicians with net worth above $1 billion
Forbes published their Billionaires list in 2023 and included just two musicians. One was the late Jimmy Buffett, ranked at 2,540 with a $1B wealth. That will now be shared as his estate settles. Forbes runs an online real-time view of their billionaires list showing the up-to-date position. That now reveals three musicians worth more than $1 billion today.
3 - Taylor Swift
What an amazing couple of years she has had. Swift is estimated to be worth $1.1B and ranks at 2370. But she's heading far higher. Her The Era’s World Tour runs to late 2024. She’s also releasing a new album in April. Both should boost the coffers even further.
2 - Rhianna
In second place among the rich musicians. Rhianna has $1.4B to her name and now places at 2,146 on the list. It's no surprise that she has soared higher. The 2023 list was likely to be too early to take into account her halftime show at that year's Super Bowl. Reports suggest that boosted song sales by almost 400 percent and streaming her music by 140 percent.
1 - Jay-Z
The US rapper was the highest-placed musician in the 2023 list. He’s still top with a wealth of $2.5B ranking at 1,302. Jay-Z has some pretty savvy investments in Uber, streaming service Tidal, and champagne and cognac producers. He also has Roc Nation, his entertainment venture. Putting those high-end drinks to one side, it’d be interesting to see who buys the coffee from their loose change when he's out and about with superstar and high-earning wife Beyonce.