Find out where Beyoncé ranks on America’s Richest Self-Made Women list as net worth decreases

Abu Mubarik June 03, 2024
Photo: Instagram/beyonce

Beyoncé Knowles, popularly known as Beyoncé, is regarded as one of the most successful Black female entertainers. In June 2023, Face2Face Africa reported that the singer and entrepreneur had an estimated net worth of $540 million.

However, by December 2023, her net worth had increased to $800 million. At the time, she was just $200 million away from becoming a billionaire like her husband, Jay-Z.

A new publication by Forbes dubbed “America’s richest self-made women 2024” has seen Beyoncé’s net worth drop to $760 million. Per her current fortune, she is ranked 45 on “America’s richest self-made women” list.

Forbes attributed her fortune to her roughly three decades as a solo performer and a member of the girl-group Destiny’s Child. In December last year, the magazine indicated that her fortune is also due 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 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, Beyonce has also made substantial wealth from entrepreneurship aside from music. 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. Recently, she collaborated on a collection with French fashion house Balmain on Renaissance Couture and also launched her perfume, Cé Noir.

Last Edited by:Mildred Europa Taylor Updated: June 3, 2024


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