Beyoncé Knowles, popularly known as Beyoncé, is on her way to becoming a billionaire following the rise of her net worth. The singer’s net worth has been increased following the stellar year the 42-year-old entertainer has had.
In June, Face2Face Africa reported that the singer and entrepreneur had an estimated net worth of $540 million. She now has a net worth of $800 million, thus, $200 million away from becoming a billionaire like her husband, Jay-Z, according to Forbes‘ latest estimation of her net worth.
Forbes said the boost of her fortune can be attributed to her substantial 2023 earnings, anchored on an estimated $100 million (post-tax) from the Renaissance World Tour and an adjustment of her music catalog and art collection. The business magazine noted that the catalog is now worth some $300 million. The personal assets she shares with Jay-Z as well as her business holdings through Parkwood Entertainment make up the remainder of her net worth, Forbes added.
Her Renaissance World Tour, which saw her perform in 17 countries, brought in more than $579 million in revenue, making it one of the top 10 highest-grossing tours in history, according to Billboard.
The singer first rose to fame as the lead singer in the girl group Destiny’s Child but has now become a larger-than-life icon; her influence cuts across music and entrepreneurship. Forbes once named her the 76th most powerful woman in the world and the 7th most powerful Black woman.
Born in Houston, Beyoncé has eight albums to her credit, with over 80 singles, and reportedly made a cool $30 million from her album sales alone. Aside from music, she has also made substantial wealth from entrepreneurship. The “Halo” singer and her husband have jointly invested in several businesses, including the ones she has solely invested in.
Together with her mom, Tina Lawson, Beyoncé founded House of Dereon, a contemporary women’s fashion line that primarily designed sportswear, denim with fur, handbags, and footwear. In 2015, she established an on-demand meal delivery service which was based on vegan food culture called 22 Days Nutrition.
The singer also launched her own fragrance called Beyoncé Heat. According to a Forbes report, her fragrance business generated $400 million in retail sales.
It is reported that her most important business is the music streaming service, Tidal, where a chunk of her money comes from. Beyonce also makes money from other sources like endorsement deals and social media content. She emerged as one of the two highest-paid Black celebrities on Instagram.
In 2019, the star signed a 60 million dollar contract with Netflix, which streamed her Coachella performance. What is more, she has also appeared as the face of brands like Giorgio Armani and launched Tommy Hilfiger’s fragrance called Truestar.
She also came to have a partnership with Adidas, served as a spokesmodel for L’Oreal, promotes Pepsi, and is into film production. She recently announced that she is investing in a hemp farm to obtain her own CBD. This year, she collaborated on a collection with French fashion house Balmain on Renaissance Couture and also launched her perfume, Cé Noir.