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BY Abu Mubarik, 12:30pm June 20, 2023,

Here is why megastar Beyoncé could soon be a billionaire

Photo credit: Asterio Tecson via Wikimedia Commons

Beyoncé Knowles, popularly, known as Beyoncé, is an American singer and entrepreneur with an estimated net worth of $540 million, according to Forbes. Together with her husband Jay-Z, the power couple has a net worth of $2 billion. 

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 seven albums to her credit, with over 80 singles, five EPs, one soundtrack album, and five live albums. She has 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 a number of 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 which 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, she earned 400 million dollars from the product.

According to reports, her most important business is the music streaming service, Tidal, where a chunk of her money comes from.

Aside from her businesses, 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 additionally has 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.

In addition to music, entrepreneurship, and endorsement deals, she also makes money from her Renaissance World Tour. According to Forbes estimates, she could earn over two billion dollars from this year’s tour.

The US Business magazine based the figures on the assumptions of the number of fans buying tickets, and a high average ticket price of $700. Also, Forbes based the estimates on the assumption that the artist will take home a large chunk of the merchandise proceeds and pay tour expenses, which is about 20% of her revenues.

The Renaissance tour is named after Beyonce’s seventh studio album, which was released in 2022. It started on May 10 in Stockholm and will continue across North America with shows in Toronto, Chicago, East Rutherford, Atlanta, Las Vegas, Los Angeles, Houston, and more. In the United Kingdom, she will perform in London (Tottenham Hotspur Stadium), Cardiff (Principality Stadium), Murrayfield in Edinburgh, and Sunderland (Stadium of Light).

The tour is the singer’s first solo tour since 2016 and according to Forbes, it could gross up to 2.4 billion dollars by the time the tour ends in September. The US Magazine says its optimistic estimates could be due to fans’ heightened interest in attending her shows.

For instance, Beyonce’s 2014 On the Run tour, where she performed alongside her husband, Jay-Z, grossed $95 million, according to Billboard. Additionally, her 2018 On the Run II tour generated $254 million, according to Forbes.

Last Edited by:Annie-Flora Mills Updated: June 20, 2023


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