The entertainment sector, particularly the Music Industry, is no doubt a money-spinner. From music concerts to royalties, endorsements, streaming/downloading earnings, social media earnings and so many ways musicians are cashing out money, one cannot ignore that it is indeed very big and generates lots of revenue for the individual(s) and government. It is against this background that we take a look into the top 5 riches musicians in the world.
5. Dr Dre ($820 Million)
The big man needs no introduction when it comes to making music. He sits at number 5 on the list.
Aside making money from music, Dr Dre has other sources of income, one of which is the popular Beats by Dre electronics brand which he sold to apple in 2014 in a deal worth about $3 billion racking up his earnings to $700 million as at then.
He is presently worth $820 million. He owns mansions in Los Angeles, California, both worth $4.7 million and 2.5 million respectively, and last year he put up for sale a mansion worth $40 million. Some of his whips are a 1964 Chevrolet Impala, Hummer H2, Bentley Continental GT, and a Chrysler 300, collectively worth a total of 368,500 thousand USD.
From the proceeds of selling Beats franchise to apple, he purchased a private jet worth $36 million and owns a yacht which he cruises with.
He is married to Nicole Threatt since 1996 and they have two children together.
Dr Dre once boasted he was going to be the first Hip Hop artist to reach the 1 billion mark, but as you read on, you will know the only musician who has achieved this so far.
4. Madonna ($850 Millions)
Born ‘Madonna Louise Ciccone’, the American singer called the Queen of pop is the only female among the top 5 musicians listed here.
She is the all time highest gross earner by concert tours by a female artist generating approximately $4.9 million.
The 61-year old diva, mother of 6 and two times divorcee who has been in the music scenes since 1979 is said to be worth $850 million. Until recently, she was just above the $500 million mark.
This however changed last year, almost doubling that figure. Some of her assets are a $40 million worth mansion in Manhattan, New York, other properties in Beverly Hills, Georgia, and more in London, England. She drives a Maybach 57 worth about $3,58,000, a Cooper S and an Audi 8.
The major source of her income is music but she also earns fairly well from other avenues like clothing lines for H&M, Macy’s skin care and a fitness outfit. In 2017, she was in the news for adopting twins from Malawi in addition to the ones she had.
3. Herb Alpert ($850 Million)
The name Herb Alpert may not ring a bell to people who don’t know him.
Born in 1935, he is a jazz musician, hence may not seem very popular with those born after 1970.
In 1962, he together with Jerry Moss founded A & M records, growing to become the world’s largest independent record company around that era.
They sold the company for $500 million in 1989 to PolyGram records, and then won another $200 Million later on when they sued the record company. He has continued to grow his income from then till now and still performs in shows. That’s some real energy from the 84-year old trumpeter.
He seems to keep a low profile when it comes to his assets as nothing much is really known regarding this aspect. He is the owner of Vibrato Jazz Grill in Los Angeles.
2. P. Diddy ($855 Million)
Self acclaimed ‘King of New York’ and CEO Bad boy Entertainment, Sean Combs is a Hip Hop artist holding sway in the 1990’s.
The fact that he hasn’t had a major hit for years now does not take anything away from the mogul, having so many business empires.
He has steadily achieved economic growth over the years by diversifying into other spheres aside music, owning Sean John Clothing line worth $70 million, restaurants, film production, and stakes in Ciroc Vodka, a TV network and Deleon.
He owns a $40 Million property in Beverly Hills, a six bedroom mansion in New Jersey, a similar one in Atlanta, another in New York, all running into millions of USD. His numerous supercars and vintage collections are a Lamborghini, Maybach 57, Phantom Drophead Coupe, 1958 Corvette amongst others.
He also owns a private jet and was once forced to ground it due to rising cost of aviation oil.
Nevertheless, he has a yacht valued at $72 million needs no aviation oil to ‘pilot’.
He has 6 children and once dated Jennifer Lopez.
1. Jay Z ($1 Billion)
Undisputed numero uno, the only Hip Hop artist to reach a billion mark thereby becoming Hip Hop’s first billionaire, hail Shawn Carter (aka Jigga, aka Hova), a rapper, songwriter, producer and an entrepreneur extraordinaire, he sure deserves some accolades.
Achieving all these is no cheap feat, bravo, kudos.
He is CEO, Rocawear clothing line, 40/40 club, Roc Nation,(worth $150 million), Aspiro AB, a tech company(with a $100 million stake in streaming service, Tidal).
Jay Z is one of the best-selling music artists in the world with over 100 million records sold worldwide.
Jigga also has stakes in the following;
$70 million stake in Uber and $150 million in other investments; $410 million in Armand de Brignac champagne and D’Usse cognac; An art collection worth $70 million; Several properties including in New York and Los Angeles and not forgetting the estate co-owned with his wife, Beyonce.
The property, bought in 2017 at the price of $88 million has a casino, a night club, two swimming pools and a host of other eye popping features.
He has more than 14 exotic car collections including a Maybach Exelero – $8 Million; Armored Dartz Prombron valued at $1.25 million; Bugatti Veyron Grand Sport Vitesse ($2.4 Million); Pagani Zonda F – $1.4 million; Rolls-Royce Phantom VIII; Ferrari F430 Spider; Maybach 62S, and a legion of many others.
He also owns a private jet, a bombardier challenger 850 gifted to him by his wife on Father’s Day worth $40 million. He, like many other rich artists also has a yacht estimated costing about $70 million.
Note this list is based on recent earnings and rankings over the last few years as some musicians like Paul McCartney and Andrew Lloyd Webber had already crossed 1 billion net worth.