Richest People
Top 20 Richest Musicians in the World (2024)
From Jay Z to Rihanna to Dolly Parton, discover the top 20 richest musicians in the world 2023, their net worth, and source of income.
The global music industry is a multi-billion-dollar industry, contributing significantly to the global economy. The music profession is one of the highest paying professions in the world. The music industry is vast and has seen countless successful artists, but only a select few have made it to the top tier of financial success. These talented individuals have amassed incredible fortunes, and their journeys to the top are just as intriguing as their music. Here is a list of the top 20 richest musicians in the world.
While some of their wealth comes from their music, most of the artists on this list have diversified income streams that make up a large chunk of their net worth. For instance, a large part of Rihanna’s wealth comes from her beauty company, Fenty. This underscores the immense possibilities and diversification potential to grow wealth as a music artist.
1. Jay Z
Shawn Corey Carter (Jay Z)
Jay Z is the richest musician in the world with a whooping net worth of $2.5 billion.
The American rapper, songwriter, and entrepreneur amassed his wealth through various ventures. He is the first rapper to be inducted into the Songwriters Hall of Fame and Rock & Roll Hall of Fame, the first black male artist to own 10 multi-platinum albums, the artist with the most Grammy nominations and the first rapper to hit the billion-dollar mark, to name a few.
Jay Z is also a very successful businessman with a diversified investment portfolio, across fashion, beverages, real estate, sport, and entertainment industries. As Forbes rightfully noted, he realized the necessity of “building his own brands rather than promoting someone else’s“. Evidently, Jay Z has been able to build a multi-billion dollar business empire.
Jay-Z’s incredible success is a testament to his skillfulness in both the music industry and business. His influence on hip-hop culture and his ability to leverage his fame to build a business empire have made him a colossus in both worlds. He is an inspiration to aspiring musicians and entrepreneurs alike, and his legacy is sure to endure for years to come.
2. Rihanna
The Richest Female Musician in the World
Robyn Rihanna Fenty, widely known as Rihanna takes the second spot among the richest musicians in the world with a net worth of $1.7 billion, per Forbes real-time billionaire index. She is the richest female musician and second only to Madonna as the best-selling female musician of all time, with over 250 million records sold worldwide.
Rihanna’s illustrious musical career started in 2003 when she was 15 years old. It didn’t take long before she gained fame in 2005 with her debut single, “Pon de Replay.” She has since then release seven additional albums and several international hit singles. Even though she barely releases music lately, Rihanna is still very much relevant in the music world.
In 2017, she launched her beauty brand, Fenty Beauty and her Lingerie brand, Savage X Fenty in 2018. According to an Investopedia report, Fenty Beauty brought in more than $550 million in revenue in 2020, and doubled the same revenue in 2022 Savage x Fenty, is presently valued at $3 billion. Aside from these Rihanna is also a part owner of the music-streaming service, Tidal.
3. Paul McCartney
UK’s Richest Musician, Paul McCartney
Paul McCartney is a talented multi-instrumentalist, songwriter and one of the richest musicians in the world, with an estimated net worth of $1.2 billion. He gained recognition and fame as a member of the iconic band The Beatles, and played a pivotal role in shaping the landscape of popular music. He is considered one of the greatest composers and performers of all time.
With the Beatles, Paul experienced immense success, including record-breaking albums, and global tours, that contributed to his early financial prosperity. Following The Beatles’ breakup, McCartney embarked on a successful solo career, releasing numerous hit songs and critically acclaimed albums.
Paul has written or co-written a total of 32 songs which got to the number 1 peak on the Billboard Hot 100 and has had sales of over 25.5 million RIAA-certified units in the US. His honours include two inductions into the Rock and Roll Hall of Fame, an Academy Award, a Primetime Emmy Award, and 18 Grammy Awards.
Aside from his music, Paul also has several business that contributed to his fortune. He is the head of Apple Corps and MPL Communications, an umbrella company for his business interests, he owns a significant music publishing catalogue, with access to over 25,000 copyrights, including the publishing rights to the musicals Guys and Dolls, A Chorus Line, Annie and Grease.
4. Andrew Lloyd Webber
Andrew Lloyd Webber has a net worth of $1.2 billion and he is also one of the richest musicians in the world. He is a renowned english composer and musical theatre impresario.
His contributions to the music industry and immense success in the realm of musical theatre have led to substantial wealth. Lloyd Webber is best known for creating some of the most iconic and beloved musicals of all time, including “The Phantom of the Opera,” “Cats,” and “Jesus Christ Superstar,” among others.
These musicals have enjoyed tremendous commercial success, with long-running productions on Broadway, the West End, and international stages. Lloyd Webber’s ability to craft memorable melodies and captivating narratives has earned him numerous awards and accolades.
More so, his involvement in theatre ownership and licensing rights has further contributed to his financial prosperity. Andrew Lloyd Webber’s influence in musical theatre and his financial accomplishments remain noteworthy.
5. Taylor Swift
Taylor Swift is an American singer-songwriter who has sold over 200 million records worldwide. She is one of the best-selling music artists of all time, and also one of the richest musicians in the world, with a net worth of $1.1 billion. She is presently the only musician who generated her billion-dollar fortune primarily through music.
Swift was born in West Reading, Pennsylvania, in 1989. She began her career as a country music artist, and she released her debut album, Taylor Swift, in 2006. The album was a commercial success, and it launched her career as a global superstar.
Swift has released 10 studio albums, all of which have been successful. She has also won numerous awards, including 12 Grammy Awards. Swift is known for her catchy melodies, her relatable lyrics, and her powerful vocals. She is a true icon of popular culture, and she has been praised for her talent, her work ethic, and her commitment to social justice.
She has also ventured into acting and has shown her entrepreneurial skills through business ventures and endorsements. Her talent, influence, and ability to connect with audiences have solidified her status as one of the most successful musicians in the world.
6. Madonna
Madonna, often referred to as the “Queen of Pop,” is an iconic figure in the music industry. She is one of the best-selling music artists of all time, with over 300 million records sold. She is also one of the richest musicians in the world, with a net worth of $850 million.
Madonna was born in Bay City, Michigan, in 1958. She began her career as a dancer in New York City in the early 1980s. She released her debut album, Madonna, in 1983. The album was a commercial success, and it launched her career as a global superstar.
With a career spanning several decades, Madonna has sold millions of albums worldwide, with numerous chart-topping hits. Her innovative and provocative approach to music, fashion, and performance has made her a cultural icon.
Beyond her music career, Madonna has diversified her ventures to include acting, directing, and business endeavours. She has launched successful concert tours, starred in films, and founded Maverick Records, a music label.
Madonna is a true icon of popular culture, known for her innovative music, her provocative lyrics, and her flamboyant style.
7. Herb Alpert
Herb Alpert is an American musician, record producer, and artist. He is one of the richest musicians in the world, with a net worth of $800 million. He is considered by many an American Cultural icon and has sold over 72 million records worldwide.
He is widely recognized as a talented trumpet player and co-founder of the instrumental group Herb Alpert & the Tijuana Brass. The group achieved immense popularity in the 1960s, with their unique blend of Latin-infused jazz and easy-listening music. Their albums consistently topped the charts, and their signature hit, “A Taste of Honey,” became a classic.
His success as a musician led to him co-founding A&M Records in 1962. The label quickly became one of the most successful record labels in the world, and it helped launch the careers of many other successful artists, including The Carpenters, The Police, and Janet Jackson. Alpert’s solo work also garnered critical acclaim and commercial success under the label.
Alpert is a true icon of American music. He has had a long and successful career, and he has influenced countless musicians. He is a role model for many people, and he is an inspiration to anyone who wants to achieve success in the music industry.
8. P Diddy
P. Diddy, also known as Sean Combs, is an American rapper, record producer, and entrepreneur. He is also of the richest musicians in the world, with a net worth of $800 billion. He is one of the most successful rapper and producer of the last century.
Diddy was born in Harlem, New York City, in 1969. He began his career as a talent director at Uptown Records in the early 1990s. In 1993, he founded his record label, Bad Boy Records. Bad Boy Records quickly became one of the most successful record labels in the world, and Diddy became one of the most successful music moguls in the industry.
Diddy has released seven solo albums, all of which have been successful. He has also produced albums for several other artists, including The Notorious B.I.G., Mary J. Blige, and Usher. In addition to his music career, Diddy has also been successful in business. He owns several clothing lines, a vodka brand, and a record label. He has also appeared in several films and television shows.
9. Celine Dion
Celine Dion is a Canadian singer and songwriter, who has enjoyed immense success and recognition throughout her career. Celine Dion has sold over 200 million records worldwide. She is one of the best-selling music artists of all time, and she is also one of the richest musicians in the world, with a net worth of $800 million.
Dion was born in Charlemagne, Quebec, Canada, in 1968. She began her career as a child performer, and she released her debut album, La Voix du Bon Dieu, in 1981. The album was a commercial success in Quebec, and it launched her career as a star in her home country.
She moved to the United States in 1988, and she released her English-language debut album, Unison, in 1990. The album was a commercial success, and it launched her career as a global superstar.
Dion rose to prominence with her powerful vocals and emotional ballads, captivating audiences worldwide. Her album “Falling into You” and the iconic song “My Heart Will Go On” from the movie “Titanic” propelled her to international stardom. Celine Dion’s extraordinary talent, global appeal, and enduring popularity have made her an iconic figure in the music industry.
10. Beyoncé
Beyoncé Giselle Knowles-Carter is an American singer, songwriter, actress, and businesswoman. She is one of the best-selling music artists of all time, with over 118 million records sold worldwide. Beyoncé has a net worth of $800 million, making her one of the richest musicians in the world.
Her impact and achievements in the music industry are unparalleled. With her powerhouse vocals, electrifying performances, and empowering anthems, she has captivated audiences worldwide. From her early days as a member of Destiny’s Child to her solo career, Beyoncé has released a string of critically acclaimed albums, including “Lemonade”, “Beyoncé”, “Renaissance”, and “Cowboy Carter” which have topped the charts and earned her numerous awards.
Beyoncé is known for her powerful vocals, her catchy melodies, and her elaborate stage shows. She has won 28 Grammy Awards, making her one of the most decorated musicians in history. Beyoncé is also a successful businesswoman, and she owns several businesses, including Parkwood Entertainment, Ivy Park, and her newly launched hair line “Cecred”.
11. Bono
Bono is an Irish singer, songwriter, and activist. He is the lead singer of the rock band U2, and he is one of the richest musicians in the world, with an estimated net worth of $700 million.
His impact on the music industry and his humanitarian efforts are widely recognized. With U2, Bono has achieved tremendous success, releasing critically acclaimed albums and performing sold-out concerts around the globe. The band’s anthemic songs and Bono’s distinctive voice have made them one of the most successful rock acts of all time.
In addition to his music career, Bono is also a successful businessman. He is the co-founder of the ONE Campaign, which is a non-profit organization that works to fight poverty and disease in Africa. He has also been involved in several other charitable organizations.
12. Dolly Parton
Dolly Parton is an iconic country music singer-songwriter and is celebrated for her immense talent and remarkable contributions to the music industry. She is one of the most successful and beloved entertainers in the world, and she has a net worth of $675 million.
She has a career that spans several decades, during which she has achieved numerous chart-topping hits and garnered countless accolades. Her unique voice, heartfelt songwriting, and captivating performances have earned her a dedicated fan base. She has released 46 studio albums, all of which have attained relative Commercial success .
Outside of her contribution to the music industry, she works as an actress and a businesswoman. She co-owns The Dollywood Company, which manages a number of entertainment venues, including the Dollywood theme park, the Splash Country water park, and a number of dinner theatre venues.
Dolly Parton is a true icon of American culture, praised for her talent, her generosity, and her commitment to helping others.
13. Elton John
Sir Elton Hercules John CBE is a British singer, pianist, and composer. He is one of the most successful and wealthy musicians in the world, with an estimated net worth of $650 million.
With his distinctive voice, flamboyant stage presence, and extraordinary songwriting abilities, Elton John has garnered widespread acclaim and a massive fan base. His catalogue boasts an impressive array of hits, including “Rocket Man,” “Your Song,” and “Candle in the Wind.”
His collaborations with lyricist Bernie Taupin have yielded timeless classics. Beyond his music, Elton John has been a prominent philanthropist, particularly in the fight against HIV/AIDS. His establishment of the Elton John AIDS Foundation has provided vital support and resources to organizations worldwide.
John released his debut album, Empty Sky, in 1969. The album was a critical and commercial success, and it launched his career as a solo artist. John went on to release over 30 studio albums, all of which have been successful. He has also won numerous awards, including five Grammy Awards, five Brit Awards, and an Academy Award.
14. Bruce Springsteen
Bruce Springsteen is an American singer, songwriter, and musician. He is one of the most successful and richest musicians in the world, and he has a net worth of $650 million.
Often referred to as “The Boss,” Springsteen is a legendary musician, singer-songwriter, and rock icon. He was born in Freehold, New Jersey, in 1949. He began his music career in the early 1970s, and he released his debut album, Greetings from Asbury Park, N.J., in 1973. The album was a critical and commercial success, and it launched his career as a rock star.
Springsteen has released 20 studio albums, all of which have been successful. He has also won numerous awards, including 20 Grammy Awards. Springsteen is known for his powerful vocals, his poetic lyrics, and his energetic live performances. His artistic prowess, impact, and iconic status in the music industry remain unparalleled.
15. Julio Iglesias
Julio Iglesias is a Spanish singer, songwriter, and former professional footballer. With a net worth around $600 million, he is one of the richest musicians in the world. Iglesias of the best-selling Latin music artists in the world. Iglesias gained international fame in the 1970s and 1980s with his romantic ballads. This portfolio includes ownership of the primary airport in Punta Cana, Dominican Republic, and multiple hotel complexes scattered throughout the country.
16. Sting
Gordon Matthew Thomas Sumner, popularly known as Sting, was the lead, songwriter and bassist for the new wave band The Police from 1977 until their breakup in 1986. In 2022, he sold his songwriting catalogue to Universal Music Publishing Group for $300 million. Sting’s net worth is alleged to be $550 million.
17. Dr Dre
Dr Dre is one of the richest musicians in the world and also an influential figure in the American music industry. Dre who is also a music producer, launched a headphones company called Beats by Dre with Jimmy Lovine. They sold the company for $3 billion. Now, Dre’s net worth has risen to about $500 million.
18. Emilio Estefan
Emilio Estefan is a producer famous for being a member of the Miami Sound Machine. He is the owner of businesses such as Bongos Cuban Café, The Cardozo and Costa d’Este. Emilio Estefan’s net worth is alleged to be $500 million. Music publishing company, a recording studio, restaurants, hotels, and commercial property investments.
19. Mick Jagger
Mick Jagger is a singer, songwriter, dancer, actor and filmmaker. He is the founder members of the rock band the Rolling Stones and co-founder of a production company, Jagged Films. Mick Jagger’s net worth is estimated to be $500 million.
20. Keith Richards
Keith Richards is a recording producer, singer, musician and songwriter. He owns several properties, such as Redlands, a Sussex estate and homes in Weston. Keith Richards’ net worth is $500 million.
Top 20 Richest Musicians in the World and Their Net Worth
| Rank | Musician | Net Worth (USD) | Nationality |
|---|---|---|---|
| 1 | Jay-Z | $2.5 billion | USA |
| 2 | Rihanna | $1.7 billion | USA, Barbados |
| 3 | Paul McCartney | $1.2 billion | UK |
| 4 | Andrew Lloyd Webber | $1.2 billion | UK |
| 5 | Taylor Swift | $1.1 billion | USA |
| 6 | Madonna | $850 billion | USA |
| 7 | Herb Alpert | $850 million | USA |
| 8 | Diddy | $800 million | USA |
| 9 | Celine Dion | $800 million | USA/FRANCE |
| 10 | Beyonce | $800 million | USA |
| 11 | Bono | $700 million | IRELAND |
| 12 | Dolly Parton | $675 million | USA |
| 13 | Elton John | $650 million | UK |
| 14 | Bruce Springsteen | $650 million | USA |
| 15 | Julio Iglesias | $600 million | SPAIN |
| 16 | Sting | $550 million | UK |
| 17 | Dr Dre | $500 million | USA |
| 18 | Emilio Estefan | $500 million | CUBA |
| 19 | Mick Jagger | $500 million | UK |
| 20 | Keith Richards | $500 million | UK |
FAQ
Who is currently the richest musician in the world?
The richest musician in the world is currently Jay-Z, with a net worth of $2.5 billion.
How do these richest musicians accumulate their wealth?
The richest musicians accumulate their wealth through a variety of sources, including:
- Record sales: The richest musicians in the world have sold millions of records, which has earned them a significant amount of money.
- Touring: These musicians earn a lot of money from touring. They charge high ticket prices for their concerts, and they often sell out stadiums and arenas.
- Licensing: They also earn money from licensing their music. Their music is used in movies, TV shows, commercials, and other forms of media.
- Endorsements: The richest musicians in the world also earn money from endorsements. They endorse products such as clothing, perfume, and cars.
Are the richest musicians solely focused on music, or do they have other business ventures?
The richest musicians in the world are not solely focused on music. Many of them have other business ventures, such as clothing lines, record labels, and production companies.
How does the wealth of musicians compare to other celebrities, such as actors or athletes?
The wealth of musicians is comparable to the wealth of other celebrities, such as actors and athletes. Some musicians are even wealthier than actors and athletes.
Are there any self-made musicians among the richest in the world?
Yes, there are many self-made musicians among the richest in the world. Some of the most notable self-made musicians include Jay-Z, Beyoncé, and Rihanna.