Major Icons Who Attend Fashion Week
In summer 2021, an artist that got her get-go performing "songs of the summer" reached a financial condition that is frequently unprecedented for a bulk of people in the arts. Simply this feels fitting for Rihanna, a recording artist and beauty mogul who inspired multiple generations of people to be more confident every 24-hour interval. Now that she's a billionaire, it's heady to see what Rihanna will exercise side by side.
In a fourth dimension where well-nigh billionaires in the public centre resemble supervillains from comic books, information technology'southward reassuring to meet inspiring creatives also reaching that milestone. Rihanna is not the first musician to become a billionaire, but she is in keen company.
Today, Shawn Corey Carter — aka Jay-Z — is a businessman first and a rapper second. Ten of Jay-Z'south albums have reached #1 on Billboard. His anthology Vol two….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 cyberspace worth is estimated to be at nearly $500 meg. Then, what separates the two in terms of their net worths? Jay-Z's wide listing of interests and business ventures.
In terms of music, Carter cultivated the careers of people similar Kanye Due west and Rihanna. He founded Roc-A-Fella Records in 1995 and stayed with the company until 2009. This conclusion enabled Carter to have control 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, but no 1 seemed surprised by this news. After all, Carter was a part-owner of the Brooklyn Nets for 10 years, and he bought the majority of Tidal, a music streaming service, for $56 million in 2015. Afterwards, he sold the service to Twitter's Jack Dorsey for $350 million, proving that he'southward always thinking in a concern-minded way.
ii. Sir Andrew Loyd Weber
While the term "going viral" was not in the colloquial until the internet age, that doesn't mean the aforementioned sort of phenomenon didn't happen prior to then. Andrew Loyd Weber is responsible for leading the way in musical trends, peculiarly in theater, for the latter one-half of the 20th century. The English composer, who was born in 1948 has been knighted past Queen Elizabeth I, won several Tony awards and became a billionaire through his fine art.
Webber's early popular musicals from the 1960s include Joseph and the Astonishing 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 Woman in White. In 2021, Webber premiered his latest musical, a new adaptation of Cinderellathat sticks true to the original Grimm fairytale. Dissimilar other artists on this list, Webber is the just one to have earned the bulk of his fortune through his iconic music, rather than other concern ventures.
Of Webber's many productions, Catswas the musical that helped Webber to clinch his billionaire status. Until it was surpassed past The Lion King, Catswas the longest-running play in Broadway history. There have been countless adaptations of Webber'southward odd, whimsical musical almost the secret lives of felines. A characteristic flick of the musical was released in 2019, the same twelvemonth that Webber'due south net worth entered billionaire territory.
3. Sir Paul McCartney
Nosotros know that Paul McCartney believes in yesterdays, but apparently he believes in being business savvy and protecting the work of his and others too. According to CBS, the Beatles have sold more than 1.6 billion singles in the United States alone. Even more than impressively, they have sold more than 600 million albums across the world.
There was a controversy in the 1980s when Michael Jackson caused 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. Afterward Jackson'southward passing, Sony caused the rest of the songs. At the time, McCartney did nonetheless receive some royalties for the songs — only non all of them.
Fortunately for McCartney, who is worth $1.2 billion, he has plenty solo piece of work and other songwriting credits, even for other artists' tunes, that were also massive successes. Recently, the expiry of McCartney's married woman, Linda, resulted in a $200 million inheritance for the erstwhile Beatle.
McCartney continues to manage his own vocal catalogue and owns the rights to other artists' music, like the iconic Buddy Holly, who influenced the Beatles early on in their career. Co-ordinate 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 Male monarch of Pop left a lasting impression on McCartney when it comes to the value of music.
4. 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 creative person of the digital era. Across her eight albums, 14 of Rihanna'southward singles have reached the height spot on Billboard'south charts. Her Guinness World Records include being the well-nigh "liked" person on Facebook in 2014 and being the female person artist with most #1 singles in a single year. The only woman in entertainment who's wealthier than Rihanna is longtime billionaire Oprah Winfrey.
Despite her musical success, another venture enabled Rihanna to achieve new financial heights. Fenty Beauty, a cosmetics company that takes it'southward proper name from Rihanna'due south surname, focused on creating makeup and other products through an inclusive lens. Historically, the makeup industry has catered to people with white skin, just Fenty'southward products are for everyone. As Fenty beauty grew, Rihanna launched a fashion haus of the same proper noun. Today, Rihanna serves as an ambassador for her home state of Barbados.
What Billionaire Musicians Mean for the Futurity of Money
What's interesting about these four iconic musicians is that they all became billionaires in recent years. In 2021, the number of billionaires reached ii,755. This is a thirty% increase over 2020. However, the number of billionaires is increasing as income inequality is also on the ascension. 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 exist learned from these four billionaire musicians it might be this: Find what you're good at and bring passion to your endeavors. Additionally, it'south okay to take varied interests, and, if you can make them work, more power to you. At that place are a lot of barriers to overcome, systemic and otherwise. But, with the right program, execution, and mayhap a little luck, you besides can follow a passion to financial success.
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