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In summer 2021, an creative person that got her start performing “songs of the summer” reached a financial condition that is often unprecedented for a bulk of people in the arts. Merely this feels plumbing fixtures for Rihanna, a recording artist and beauty mogul who inspired multiple generations of people to exist more confident every 24-hour interval. At present that she’due south a billionaire, information technology’s heady to see what Rihanna will practice next.

In a time where virtually billionaires in the public eye resemble supervillains from comic books, it’s reassuring to see inspiring creatives too reaching that milestone. Rihanna is not the commencement musician to get a billionaire, only she is in cracking company.

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Today, Shawn Corey Carter — aka Jay-Z — is a man of affairs first and a rapper 2d. X of Jay-Z’due south albums have reached #i 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 million. So, what separates the two in terms of their net worths? Jay-Z’south broad list of interests and business organisation ventures.

In terms of music, Carter cultivated the careers of people like 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 take 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, only no one seemed surprised by this news. After all, Carter was a function-owner of the Brooklyn Nets for 10 years, and he bought the majority of Tidal, a music streaming service, for $56 million in 2015. Later, he sold the service to Twitter’s Jack Dorsey for $350 million, proving that he’due south always thinking in a business concern-minded way.

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2. Sir Andrew Loyd Weber

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While the term “going viral” was not in the vernacular until the cyberspace age, that doesn’t mean the same sort of phenomenon didn’t happen prior to then. Andrew Loyd Weber is responsible for leading the way in musical trends, particularly in theater, for the latter 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 art.

Webber’s early on 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 one from the 1980s that everyone loves), and
The Adult female in White. In 2021, Webber premiered his latest musical, a new adaptation of
Cinderellathat sticks truthful to the original Grimm fairytale. Unlike other artists on this list, Webber is the only one to have earned the bulk of his fortune through his iconic music, rather than other business organisation ventures.

Of Webber’south many productions,
Catswas the musical that helped Webber to clinch his billionaire condition. Until it was surpassed past
The King of beasts King,
Catswas the longest-running play in Broadway history. There accept been countless adaptations of Webber’s odd, whimsical musical well-nigh the surreptitious lives of felines. A feature film of the musical was released in 2019, the same year that Webber’s net worth entered billionaire territory.

3. Sir Paul McCartney

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Nosotros know that Paul McCartney believes in yesterdays, simply plainly he believes in being business concern savvy and protecting the work of his and others likewise. Co-ordinate to CBS, the Beatles have sold more than 1.six billion singles in the United States alone. Fifty-fifty more impressively, they accept sold more than 600 one thousand thousand albums beyond the earth.

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At that place was a controversy in the 1980s when Michael Jackson caused the rights to a massive portion of the Beatles’ vocal catalogue. Jackson sold some of the songs to Sony in 2008 while experiencing fiscal difficulties. After Jackson’s passing, Sony caused the residuum 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 $i.two billion, he has enough solo work and other songwriting credits, even  for other artists’ tunes, that were also massive successes. Recently, the death of McCartney’southward wife, Linda, resulted in a $200 one thousand thousand 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 past Jay-Z in the late 1990s. Maybe his squabble in the ’80s with the King of Pop left a lasting impression on McCartney when information technology comes to the value of music.

4. Rihanna

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In 2018, NPR called Rihanna the most influential musician of the 21st century. And they weren’t incorrect. Robyn Rihanna Fenty has been named the tiptop-selling artist of the digital era. Across her eight albums, 14 of Rihanna’s singles take reached the top spot on Billboard’s charts. Her Guinness Earth Records include beingness the nigh “liked” person on Facebook in 2014 and being the female artist with most #1 singles in a unmarried twelvemonth. The only adult female in entertainment who’south wealthier than Rihanna is longtime billionaire Oprah Winfrey.

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Despite her musical success, another venture enabled Rihanna to reach new financial heights. Fenty Beauty, a cosmetics company that takes it’s proper name from Rihanna’southward surname, focused on creating makeup and other products through an inclusive lens. Historically, the makeup industry has catered to people with white skin, but Fenty’s products are for everyone. As Fenty beauty grew, Rihanna launched a fashion haus of the same name. Today, Rihanna serves as an ambassador for her home land of Barbados.

What Billionaire Musicians Mean for the Future of Coin

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What’s interesting almost these iv iconic musicians is that they all became billionaires in recent years. In 2021, the number of billionaires reached 2,755. This is a 30% increase over 2020. All the same, the number of billionaires is increasing as income inequality is also on the rise. Fourth dimension volition tell whether or not these new billionaires hoard their wealth or use it to empower others. We’re hoping for the latter.

This can exist discouraging, but  if we’re looking for lessons to exist learned from these four billionaire musicians information technology might be this: Notice what you’re skillful at and bring passion to your endeavors. Additionally, it’s okay to have varied interests, and, if you can make them work, more ability to y’all. At that place are a lot of barriers to overcome, systemic and otherwise. But, with the correct program, execution, and peradventure a petty luck, you likewise can follow a passion to financial success.

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