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In summer 2021, an artist that got her start performing "songs of the summer" reached a financial status that is frequently unprecedented for a majority of people in the arts. But this feels fitting for Rihanna, a recording artist and dazzler mogul who inspired multiple generations of people to be more than confident every twenty-four hour period. Now that she's a billionaire, information technology'due south heady to see what Rihanna will do next.
In a time where near billionaires in the public centre resemble supervillains from comic books, it's reassuring to see inspiring creatives also reaching that milestone. Rihanna is not the first musician to become a billionaire, but she is in great company.
Today, Shawn Corey Carter — aka Jay-Z — is a businessman first and a rapper second. 10 of Jay-Z's albums have reached #1 on Billboard. His album Vol 2….Hard Knock Life spent 69 weeks on the Hot 100 Chart. A lot of folks compare Carter to his wife, Beyoncé Knowles Carter, whose individual net worth is estimated to be at about $500 one thousand thousand. So, what separates the two in terms of their net worths? Jay-Z'southward broad listing of interests and business ventures.
In terms of music, Carter cultivated the careers of people like Kanye West and Rihanna. He founded Roc-A-Fella Records in 1995 and stayed with the company until 2009. This determination enabled Carter to take command of his music and curate a deep library of music that remains both iconic and relevant today.
It wasn't until 2019 that Jay-Z officially became a billionaire, merely no ane seemed surprised by this news. After all, Carter was a part-possessor of the Brooklyn Nets for 10 years, and he bought the bulk of Tidal, a music streaming service, for $56 million in 2015. Later, he sold the service to Twitter'south Jack Dorsey for $350 million, proving that he's ever thinking in a business-minded mode.
2. Sir Andrew Loyd Weber
While the term "going viral" was not in the colloquial until the internet historic period, that doesn't mean the aforementioned sort of miracle didn't happen prior to then. Andrew Loyd Weber is responsible for leading the way in musical trends, especially in theater, for the latter one-half of the 20th century. The English composer, who was born in 1948 has been knighted by Queen Elizabeth I, won several Tony awards and became a billionaire through his art.
Webber's early pop musicals from the 1960s include Joseph and the Amazing Technicolor Dreamcoatand Jesus Christ Superstar. Other successful productions of his include Evita, Phantom of the Opera (the i from the 1980s that everyone loves), and The Adult female in White. In 2021, Webber premiered his latest musical, a new accommodation of Cinderellathat sticks true to the original Grimm fairytale. Different other artists on this list, Webber is the merely one to take earned the bulk of his fortune through his iconic music, rather than other business organisation ventures.
Of Webber's many productions, Catswas the musical that helped Webber to clinch his billionaire status. Until it was surpassed by The Lion King, Catswas the longest-running play in Broadway history. In that location accept been endless adaptations of Webber's odd, whimsical musical about the secret lives of felines. A feature film of the musical was released in 2019, the same yr that Webber's net worth entered billionaire territory.
three. Sir Paul McCartney
We know that Paul McCartney believes in yesterdays, simply manifestly he believes in being business concern savvy and protecting the work of his and others besides. According to CBS, the Beatles have sold more 1.vi billion singles in the United States lone. Fifty-fifty more impressively, they have sold more than than 600 meg albums across the earth.
There was a controversy in the 1980s when Michael Jackson acquired the rights to a massive portion of the Beatles' song catalogue. Jackson sold some of the songs to Sony in 2008 while experiencing financial difficulties. After Jackson'south passing, Sony caused the rest of the songs. At the time, McCartney did still receive some royalties for the songs — but not all of them.
Fortunately for McCartney, who is worth $1.2 billion, he has enough solo work and other songwriting credits, even for other artists' tunes, that were too massive successes. Recently, the expiry of McCartney's wife, Linda, resulted in a $200 million inheritance for the former Beatle.
McCartney continues to manage his own song catalogue and owns the rights to other artists' music, like the iconic Buddy Holly, who influenced the Beatles early in their career. According to Billboard, McCartney owns the rights to over 25,000 compositions, including "Hard Knock Life," which was sampled by Jay-Z in the late 1990s. Perhaps his squabble in the '80s with the Rex of Pop left a lasting impression on McCartney when it comes to the value of music.
four. Rihanna
In 2018, NPR called Rihanna the most influential musician of the 21st century. And they weren't wrong. Robyn Rihanna Fenty has been named the top-selling artist of the digital era. Across her 8 albums, 14 of Rihanna's singles have reached the pinnacle spot on Billboard's charts. Her Guinness World Records include being the most "liked" person on Facebook in 2014 and being the female artist with about #1 singles in a single year. The only woman in amusement who's wealthier than Rihanna is longtime billionaire Oprah Winfrey.
Despite her musical success, some other venture enabled Rihanna to achieve new financial heights. Fenty Dazzler, a cosmetics company that takes it's name from Rihanna's surname, focused on creating makeup and other products through an inclusive lens. Historically, the makeup industry has catered to people with white skin, merely Fenty'south products are for anybody. As Fenty beauty grew, Rihanna launched a fashion haus of the aforementioned name. Today, Rihanna serves as an ambassador for her domicile country of Barbados.
What Billionaire Musicians Mean for the Future of Money
What'south interesting about these four iconic musicians is that they all became billionaires in recent years. In 2021, the number of billionaires reached two,755. This is a thirty% increase over 2020. However, the number of billionaires is increasing every bit income inequality is also on the rise. Time volition tell whether or not these new billionaires hoard their wealth or apply information technology to empower others. We're hoping for the latter.
This can be discouraging, but if we're looking for lessons to be learned from these four billionaire musicians it might be this: Find what you're expert at and bring passion to your endeavors. Additionally, it's okay to accept varied interests, and, if you lot can make them work, more than power to you. There are a lot of barriers to overcome, systemic and otherwise. But, with the right program, execution, and maybe a lilliputian luck, y'all also tin follow a passion to financial success.
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Source: https://www.askmoney.com/investing/billionaire-musicians?utm_content=params%3Ao%3D1465803%26ad%3DdirN%26qo%3DserpIndex
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