Yahoo Finance Ranked: the 20 richest musicians in 2024
The musicians rocking huge fortunes in 2024
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The music business is one of the most lucrative industries in the world – and for those who hit the big time, it provides fame and fortune beyond their wildest dreams.
From rock legends who rake in millions to modern-day music stars-turned-business moguls, read on to discover the music world's richest stars today. Some of the entries may even surprise you!
All dollar amounts are in US dollars
20th: Jon Bon Jovi, $410 million (£321m)
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Jon Bon Jovi has been a staple of classic rock music for decades, forming his eponymous band in 1983. Their first two albums achieved minor success, but their third release, 1986’s Slippery When Wet, catapulted the band to global stardom. Selling over 30 million copies worldwide, it contains legendary crowd-pleasers such as Livin’ on a Prayer and You Give Love a Bad Name.
In addition to his work with the band, Bon Jovi has released two critically acclaimed solo albums. He's also penned hits for the likes of Cher, and in 2009 he was inducted into the Songwriters Hall of Fame. Bon Jovi even dabbled in acting in the 1990s, enjoying guest roles in shows including Sex and the City and Ally McBeal. His songwriting royalties and touring income have earned him an estimated fortune of around $410 million (£321m).
19th: Dolly Parton, $450 million (£351m)
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Dolly Parton has enjoyed an illustrious music career spanning five decades. With over 100 million albums sold worldwide, she was the best-selling female country artist until 2022, when Taylor Swift surpassed her. At 78 years old, with 49 studio albums under her belt, Parton shows no signs of slowing down. Her latest album Rockstar, released in 2023, marked her debut in the rock genre.
A talented songwriter, Parton's music catalogue of more than 3,000 songs, including hits like I Will Always Love You and 9 to 5, is valued at $150 million (£117m). However, the bulk of her wealth comes from her stake in the Dollywood theme park in Tennessee. Forbes estimates her net worth today at $450 million (£351m). Her fortune could have been significantly higher, but Parton is renowned for donating substantial sums to charitable causes. In 2022, she became the first female entertainer to receive the prestigious Carnegie Medal of Philanthropy.
18th: Barbra Streisand, $460 million (£360m)
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Barbra Streisand was named by Forbes as one of America’s richest self-made women in 2024, which is no surprise given her awe-inspiring career. She’s the only artist in history to have had a number-one album in six consecutive decades, and her albums and tours have grossed hundreds of millions worldwide.
The actress, singer, and comedienne is also a member of the exclusive EGOT Club, meaning she's won a Grammy, an Emmy, an Oscar, and a Tony Award. Since 1969’s Funny Girl launched her film career, earning her a Best Actress Oscar in the process, Streisand has enjoyed success in both the music and movie industries. However, most of her wealth has been amassed through her musical talents, earning her a fortune of $460 million (£360m), according to Forbes.
17th: Gloria Estefan, $500 million (£390m)
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Cuban-American singer-songwriter and music producer Gloria Estefan rose to fame in the 1970s as the lead singer of the Miami Sound Machine before launching a wildly successful solo career in the 1990s. With over 130 million records sold globally, she's widely regarded as the most successful Latin crossover artist of all time, with Get on Your Feet and Don't Wanna Lose You among her biggest hits.
Estefan has bolstered her fortune with various other entertainment ventures. She's dipped her toes into acting, appearing in films like Marley & Me and guest-starring on hit TV shows such as Glee. In 2015, she co-wrote the Broadway musical On Your Feet! based on her life and career, which became an instant hit. Her estimated total fortune stands at a juicy $500 million (£390m).
16th: Mick Jagger, $530 million (£415m)
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Mick Jagger might have the means to retire to one of his many mansions, but the veteran rock star shows no signs of slowing down. His band, The Rolling Stones, continues to release new music and tour, although the show must go on without drummer Charlie Watts, who sadly passed away in August 2021.
Throughout his decades-spanning career, Jagger has ventured into various pursuits, including acting and solo music projects. However, the majority of his wealth stems from The Rolling Stones, his songwriting, and extensive touring. According to The Sunday Times Rich List 2024, his net worth is an impressive $530 million (£415m).
15th: Celine Dion, $550 million (£430m)
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Powerhouse vocalist Celine Dion has sold more than 220 million albums worldwide since skyrocketing to success in the 1990s, cementing her status as one of the best-selling music artists of all time. The Canadian songstress has a true rags-to-riches tale, and as the youngest of 14 children, she slept in a drawer as a child. Today she boasts a mammoth fortune of $550 million (£430m), according to Forbes.
Most of Dion's wealth has been accumulated through tours and Las Vegas residencies. However, the star has stepped away from the spotlight in recent years after being diagnosed with a rare neurological disorder called Stiff Person Syndrome, which affects her ability to sing. Her struggle with the illness was the focus of a recent Amazon Prime Video documentary titled I Am: Celine Dion.
14th: Julio Iglesias, $600 million (£469m)
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Born in Madrid in 1943, the young Julio Iglesias originally set out to be a professional footballer. In a cruel twist of fate, he was involved in a car crash at the age of 20 that left him unable to walk for two years. While he was recovering in hospital, a nurse gave him a guitar to help him regain mobility in his hands. Iglesias uncovered his musical talent and is now one of the best-selling Latin music artists of all time, having sold over 100 million records worldwide.
Iglesias has an estimated fortune today of $600 million (£469m). However, the star faced scrutiny due to the Pandora Papers leak in 2021, which revealed he used shell companies to amass a real estate portfolio in Florida. He's also previously come under fire for allegedly not paying taxes in his home country of Spain.
13th: Elton John, $602 million (£470m)
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Since his breakthrough with Your Song in 1970, Elton John has become a music icon. He's sold over 300 million albums globally and was the subject of a 2019 biopic chronicling his life and career. The 77-year-old star recently retired from touring after his Farewell Yellow Brick Road tour concluded last year, grossing over $939 million (£733m) and becoming one of the highest-earning tours in history.
His net worth stands at $602 million (£470m), according to The Sunday Times Rich List 2024. Although the star likes to splash his cash on the likes of Porsches and private jets, he’s also a famed philanthropist. In April 2020, for example, the Elton John AIDS Foundation announced a $1 million emergency fund to help those living with HIV maintain their treatment during the COVID-19 pandemic.
12th: Bruce Springsteen, $650 million (£508m)
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Singer-songwriter Bruce Springsteen has captured the hearts of fans for decades with his heartland rock songs, which vividly depict the lives of ordinary working-class Americans. Known affectionately as "The Boss", he's sold more than 150 million records worldwide since the 1970s. His 1984 album, Born in the U.S.A., has shifted upwards of 30 million copies, cementing its place among the best-selling records of all time.
According to Forbes, he earned a jaw-dropping $435 million (£340m) in 2022 alone from touring and ventures such as the hugely successful stage show Springsteen on Broadway, which earned him a Tony Award. In total, his estimated net worth stands at a substantial $650 million (£508m).
11th: Andrew Lloyd Webber, $657 million (£513m)
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Andrew Lloyd Webber’s bank account haemorrhaged funds during the pandemic. The English composer and theatre impresario reportedly lost $379 million (£296m) when COVID-19 shut down his seven venues in London's West End; he stated at the time that the closures were costing him $1.4 million (£1.1m) monthly.
Despite this, Lloyd Webber still has a fortune of $657 million (£513m), according to The Sunday Times Rich List 2024. He’s the force behind some of the world’s most famed and longest-running Broadway and West End musicals, including Cats and The Phantom of the Opera, with The New York Times once referring to him as "the most commercially successful composer in history."
10th: Bono, $700 million (£547m)
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U2 frontman Bono rose to prominence with his band in the early 1980s and has enjoyed success for over four decades. Musical success aside, Bono has also made a series of shrewd business investments to help expand his wealth. He financed the refurbishment of the Clarence Hotel in Dublin, for example, transforming the run-down building into a chic boutique resort in the 1990s, and has also invested in companies including Forbes Media Group and Facebook through the now-closed investment fund Elevation Partners.
A famed philanthropist, Bono also sits on the board of Zipline, a drone delivery company focused on delivering medical supplies to developing nations in Africa. Thanks to his various ventures, the Irish singer-songwriter has an estimated fortune of $700 million (£547m).
9th: Beyoncé, $760 million (£594m)
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Beyoncé was the breakout star of the 90s girl group Destiny's Child, and her career has soared since the release of her debut solo album Dangerously in Love in 2003. Today, "Queen Bey" has sold over 200 million records worldwide, and in 2023, she broke the record for the most Grammy wins ever with 32.
Beyond her music achievements, Beyoncé has displayed shrewd business acumen, boosting her fortune with money-spinners like her Ivy Park clothing line and Cécred hair brand. She's also ventured into acting, taking on diverse roles from musical drama Dreamgirls (2006) to voicing a character in the reboot of The Lion King (2019). Forbes estimates her net worth at $760 million (£594m).
Joint 7th: Selena Gomez, $800 million (£625m)
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Former child star Selena Gomez began her career on the Disney Channel, acting in popular shows like Barney & Friends and Wizards of Waverly Place. In 2009, she ventured into music as the frontwoman of Selena Gomez & the Scene, releasing three studio albums with the band. Gomez then launched her solo career in 2013 and has released three more records. Her most recent solo album, Rare, dropped in 2020.
While Gomez continues to act and make music – she currently stars in TV series Only Murders in the Building and released the song Love On earlier this year – the bulk of her wealth stems from her business ventures. In 2020, she founded the makeup company Rare Beauty, which the Business of Fashion website values at $2 billion (£1.6bn). According to Business Insider, Gomez is considering selling her stake in the company, a move that could elevate her to billionaire status. Currently, sources estimate her net worth is around $800 million (£625m).
Joint 7th: Dr. Dre, $800 million (£625m)
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Dr. Dre might well have been a high school dropout, but he's gone on to amass a fortune in the region of $800 million (£625m), according to Forbes. His music career began in the 1980s when he began performing as a DJ in nightclubs. He achieved fame in the same decade when he co-founded the hip-hop group N.W.A. However, it wasn't until he became a record producer that his career really took off.
While he's been instrumental in the success of artists including 2Pac, Snoop Dogg, and Eminem, most of Dre's riches have come from Beats, the headphone company he founded in 2006. In 2014, he sold Beats to Apple for more than $3 billion, the equivalent of $4 billion (£3.1bn) in today's money.
Joint 5th: Herb Alpert, $850 million (£664m)
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While jazz musician and trumpeter Herb Alpert may not have the same level of name recognition as others on our list, his career is equally impressive. His journey began in the 1960s as the band leader of Herb Alpert and the Tijuana Brass. He's since achieved the significant milestones of five number-one albums, nine Grammy awards, and worldwide record sales surpassing 72 million.
In addition to his musical success, Alpert co-founded the record label A&M Records in 1962 with his friend Jerry Moss. A&M Records grew into one of the world's largest labels, signing iconic artists such as The Police, Supertramp, Bryan Adams, The Carpenters, and Janet Jackson. In 1989, Alpert and Moss sold A&M Records to PolyGram for $500 million in cash, equivalent to an incredible $1.3 billion (£1bn) today. It's believed that the majority of Alpert's estimated $850 million (£664m) fortune stems from this sale.
Joint 5th: Madonna, $850 million (£664m)
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Madonna has been revolutionising the music industry since her self-titled debut album was released in 1983, earning her the title "Queen of Pop". Her audacious theatrical stage presence and bold personal style have helped her sell more than 300 million albums, as well as influence musicians of all generations, including Britney Spears, Lady Gaga, and, more recently, Dua Lipa, to name just a few.
According to Forbes, the megastar has grossed an estimated $1.2 billion (£940m) over the course of her decades-spanning touring career. Her current net worth stands at a staggering $850 million (£664m), making Madonna one of the richest self-made women in America.
Joint 3rd: Taylor Swift, $1.3 billion (£1bn)
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The Taylor Swift story reads like a movie script: a small-town girl moves to Tennessee to pursue her dream as a country musician, gets discovered, and rises to become the world's biggest pop star. And now, at just 34, Swift has achieved the remarkable feat of becoming the first musician to attain billionaire status solely through her songs and performances.
She's accumulated around $600 million (£469m) from royalties and touring and has a music catalogue valued at another $600 million. Her ongoing The Eras Tour holds the record of being the highest-grossing concert tour in history, having surpassed the $1 billion (£780m) mark in earnings last year. Forbes estimates Swift's net worth is $1.3 billion (£1bn).
Joint 3rd: Sir Paul McCartney, $1.3 billion (£1bn)
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Sir Paul McCartney recently made history as Britain's first-ever billionaire musician. A key songwriter for The Beatles alongside John Lennon, he continues to earn a fortune in royalties each year. Additionally, he owns a treasure trove of music publishing rights, including works by Buddy Holly and Carl Perkins.
The 82-year-old music legend also enjoys a thriving solo career, and his concerts grossed over $100 million in 2019 alone, the equivalent of $123 million (£96m) in today's money. His net worth is a dizzying $1.3 billion (£1bn), according to The Sunday Times Rich List 2024.
2nd: Rihanna, $1.4 billion (£1.1bn)
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Rihanna stepped onto the music scene in 2005 after signing with Def Jam. While her first two albums achieved moderate success, it was her third studio album, Good Girl Gone Bad, that catapulted her to global stardom. Since then, the Barbadian singer has sold over 250 million records worldwide and is currently working on her highly anticipated ninth studio album.
Beyond her musical achievements, Rihanna owes much of her wealth to her sharp business acumen. In 2017, she partnered with LVMH to launch Fenty Beauty, a cosmetics line that generated over $550 million in revenues in 2020 alone, or $667 million (£521m) in 2024 money. In 2018, she expanded her business interests with Savage x Fenty, a lingerie line in which she holds a 28% stake. By February 2021, Savage x Fenty was valued at $1 billion (£780m). Rihanna's overall net worth now stands at $1.4 billion (£1.1bn), according to Forbes.
1st: Jay-Z, $2.5 billion (£2bn)
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Rapper-turned-mogul Jay-Z was declared hip-hop's first billionaire in 2019 thanks to his sprawling business empire. His music career began in 1996 when he launched his Roc-A-Fella label, releasing his first studio album, Reasonable Doubt, later that year. He's since gone on to sell over 125 million records worldwide and has won 24 Grammy awards.
Jay-Z's music career earnings are just the tip of the iceberg. His business interests range from his Roc Nation entertainment company, a fashion line, and two luxe drink brands. He's also a man who knows how to spot a good investment. His portfolio includes stakes in some of the world's biggest companies, including Uber and SpaceX. According to Forbes, his net worth is an astonishing $2.5 billion (£2bn).
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