Music has become a lucrative business making musicians part of the richest people in the world.
Having moved from the era of DVDs and CDs to an era of online streaming, musicians have been able to generate lots of revenue based on the number of streams and downloads they had worldwide.
Here is a list of the 15 richest musicians in the world according to Forbes and their net worth.
1. Kanye West $1.3 Billion
Kanye West who doubles as a footwear mogul has over the years amassed wealth worth fortune. Forbes 2022 estimates his net worth at $1.3 billion, making him the musician in the world.
West generates the bulk of his income from Yeezy, and also possesses about $200 million in other assets, including real estate properties and his music catalog.
According to Bloomberg, Ye’s music catalog, which includes everything from albums, The College Dropout to Jesus is King, is worth about $110.5 million.
2. Paul McCartney $1.3 billion
The English singer, songwriter, musician, composer, and record and film producer born on 18th June 1942 gained worldwide fame as co-lead vocalist and bassist for the Beatles.
McCartney has written or co-written 32 number-one singles on the Billboard H*t 100.
He has over 15.5 million RIAA certified units in the United States as a solo artist plus another 10 million with Wings.
He doubles with Kanye West as the top richest with a $1.3 billion net worth
3. Andrew Llyod Webber $1.2 billion
Sir Andrew was born on 22nd March 1948. He is an English composer and impresario of musical theatre. He is one of fifteen people to have won an Oscar, an Emmy, a Grammy, and a Tony.
He has a star on the Hollywood Walk of Fame, is an inductee into the Songwriter’s Hall of Fame, and is a fellow of the British Academy of Songwriters, Composers, and Authors.
His company, the Really Useful Group, is one of the largest theatre operators in London, with producers in several parts of the UK trouping in for staged production or national tours.
4. Jay Z $1 billion
Jay-Z is one of the world’s best-selling music artists, with over 50 million albums and 75 million singles sold worldwide.
He has won a total of 22 Grammy Awards, the most by any rapper, and holds the record for the most number-one albums by a solo artist on the Billboard 200, with 14.
He has been ranked by Billboard and fellow music publication Rolling Stone as one of the 100 Greatest Artists of All Time.
In June 2019, Jay-Z officially became the first hip hop billionaire, making him the fifth wealthiest African-American, the wealthiest American musician and the fourth richest musician in the world
5. Herb Alpert $870 million
Herb Alpert is an American trumpeter who led Herb Alpert & the Tijuana Brass in the 1960s.
He is a co-founder of A&M Records with Jerry Moss. He was a successful musician making five No.1 albums, chartered 28 albums; 15 albums being gold and 14 being platinum, he won nine Grammys and sold 72 million records worldwide
6. Puff Diddy $855 million
Sean John Combs, popularly known by the stage names Puff Diddy, P. Diddy, Puffy, or Diddy was born in New York City but was raised in Mount Vernon, New York.
He is an American rapper, singer, songwriter, record producer, entrepreneur, record executive, and actor having worked as a talent director at Uptown Records before founding his own record label, Bad Boy Entertainment, in 1993.
7. Madonna $850 million
Madonna Louise Ciccone is an American singer, songwriter, and actress. Referred to as the “Queen of Pop” since the 1980s.
She has been known for reinventing her music and image, taking charge of every aspect of her career.
Her diverse works, which incorporated social, political, s****l, and religious themes, have generated both critical acclaim and controversy.
8. Dr Dre $820million
Born in the United States of America in 1965, Dr Dre is an American rapper, producer and entrepreneur.
He started out as a producer for the rap group N.W.A in the 80 eventually going solo and later venturing into entrepreneurship.
He worked with some best hip hop artists of all time and sold his brand Beats By Dr Dre’ to Apple several years ago for $3 billion.
9. Bono $700 million
Paul David Hewson KBEOL known by his stage name Bono is an Irish singer-songwriter, philanthropist, activist, venture capitalist, businessman, and actor.
He is best known as the lead vocalist and primary lyricist of the rock band U2.
10. Rihanna $600 million
She broke the record as the world’s richest female musician.
From 2018 to 2019, she grew her estimated net worth from $210 million to $600 million. She was also the third highest-paid female singer in 2019.
Rihanna is also known to be involved in lots of charity work.
She doesn’t care about spending her money on family or those in need. Due to this, she was named Harvard’s humanitarian of the year in 2017.
11. Jimmy Buffett $600 million
Best known for the “island escapism” style of music, Jimmy Buffett born on Dec 25 1946 is an American singer-songwriter, guitarist, author, actor and businessman.
He currently has 27 album releases and around 40live tours.
Some of his songs are, “Big 8”, “Volcano”, and “Why Don’t We Get Drunk”
12. Emilio Estefan $500 million
Born on 4 March 1953, the Cuban-American musician, producer, Actor, and entrepreneur has a combined net worth with a highly-successful musician wife, Gloria Estefan of $500million.
He is a recipient of 19 Grammy Awards, the Presidential Medal of Freedom and the Gershwin Prize for his contributions to the Arts.
13. Elton John $500 million
Elton John is an extremely popular and successful British singer, composer, pianist and songwriter.
He was born on March 25 1947 and is one of the most commercially successful artists.
He has sold more than 300 million albums worldwide and is frequently among the highest paid celebrities in the world
14. Beyonce $500 million
Beyonce Giselle Knowles Carter is an American dancer, singer, songwriter and actress from Houston.
She gained recognition when she became a lead singer of the R&B girl group ‘Destiny’s Child’ and went on to release lots of music albums and singles making her one of the most successful female musicians.
She is married to Jay Z and they have a combined net worth of $1.5 million
15. Coldplay $475 million
Coldplay is a British alternative rock band made up of vocalist Chris Martin, guitarist Johnny Buckland, bassist Guy Berryman and drummer Will Champion,
They achieved worldwide fame in 2000 upon the release of the song, “Yellow”. Its single “Clocks” won the Grammy Awards for the 2003 best record and earned three other Grammy Awards after they released their fourth studio albums, Viva la Vida or Death and All His Friends in 2008 album.