Concert tours, album sales, paid appearances, and merchandise is just part of the reason why musicians can make multi-million dollar salaries. Of course, that doesn't happen overnight. It takes many years of hard work and a loyal fan base to maintain this level of wealth.
These talented musicians are spread across multiple genres and are comprised of both music veterans and relative newcomers. Forbes released the top musical artist's net worths and you'd be surprised just how much Billy Joel, Lady Gaga, and Paul McCartney are making.
Elton John Is Worth Roughly $500 Million
In a highly competitive industry, Elton John has managed to stay relevant throughout his five-decade career. He's sold more than 300 million records, which makes him one of the best-selling artists ever. Also, he is one of the few singers to have over 50 songs that became Top 40 hits.
Now, John is making most of his salary through elaborate concert tours, but his music is still heavily downloaded and streamed. The most recent records of his annual net worth come in at about $500 million. His buzzworthy biopic, Rocketman, also helps him out.
Bruno Mars Is $150 Million Richer Thanks To His Radio Hits
Bruno Mars' music spans multiple genres including R&B, funk, pop, soul, reggae, hip hop, and rock. Not only does Mars perform all the songs, but he also writes, produces, and comes up with most of his choreography. His music is played all around the world with 180 million records sold during his career.
He is one of the richest musicians to date with a net worth of $150 million. This has also been an exciting time for his music because he's the top-ranging R&B/hip hop act and the second-most played artist on the radio.
Jon Bon Jovi Sold 100 Million Records And Is Worth $410 Million
One of the most influential rock bands from the 1980s to today is Bon Jovi. The group consists of lead singer Jon Bon Jovi, keyboardist David Bryan, drummer Tico Torres, guitarist Phil X, and bassist Hugh McDonald. Fans might remember some of their greatest hits like "You Give Love a Bad Name" and "Livin' on a Prayer."
They've sold over 100 million records worldwide landing them a spot on the highest paid musician list at $410 million. Most recently the band was inducted into the Rock & Roll Hall of Fame.
Lady Gaga Is Has Gone From Rags To $300 Million Worth Of Riches
Many music careers go through transformations and rebirths, which is exactly what happened to famed artist Lady Gaga. Her first single "Just Dance" in 2008 skyrocketed her to stardom and she's been making numerous number one hits ever since. On top of her music, she also spent time in the acting world earning some prestigious awards.
Her songwriting abilities have given her the chance to earn one of the highest net worths for a musician at $300 million. Her most recent song with Bradley Cooper from A Star is Born ended up being one of the most streamed songs ever, even winning her an Oscar.
Ed Sheeran Has A Comfy $110 Million Net Worth
The Billboard Hot 100 has been filled with many of Ed Sheeran's biggest hits, including "Perfect" and "Shape of You." His songs have no trouble climbing the charts and breaking records. His most recent full-length album ÷ was named the best-selling album worldwide in 2017.
Sheeran's massive success at such a young age brought him a net worth of $110 million. He most recently released a single called "I Don't Care" with Justin Bieber that broke a streaming record at 10.977 million in one day, beating Mariah Carey's "All I Want for Christmas Is You."
Paul McCartney's $1.2 Billion Net Worth Is Thanks To His Long Career
The Beatles probably wouldn't have been as successful as they were without Paul McCartney. His songwriting partnership with bandmate John Lennon launched The Beatles into superstardom making him one of the best composers and performers of all time.
After his time with The Beatles, he moved onto a solo career with original records and frequent concert tours. From playing some of his greatest hits on tour to the high royalty rates from past songs, McCartney's net worth is equivalent to about $1.2 billion. He's also well into his 70s but is still releasing new music for longtime fans.
Coldplay Is Doing Just Fine With Their $475 Million
Coldplay's career as a rock group sets them high above the rest. After the release of "Yellow" in 2000 the band was met with worldwide fame and fortune. They've earned high honors like Grammy Awards, MTV Video Music Awards, Billboard Music Awards, and have sold over 100 million records.
Frontman Chris Martin and the rest of the band are some of the top paid artists in the world with their net worth coming in at $475 million. They continue to sell millions of records and are one of only four rock groups that have topped over one billion streams.
Katy Perry Made $25 Million Just On American Idol Alone
Other than being a musician, Katy Perry has many other career paths up her sleeve. She's recently switched lanes by working as a reality TV host and fashion designer. Perry started her music career as a gospel singer, but after that didn't work out she changed her name and released two hit singles "I Kissed a Girl" and "Hot n Cold."
All of her career endeavors have led to success giving her an impressive net worth of $330 million. It's been a couple of years since she's released a new album, but her music continues to be downloaded and streamed by the millions.
Bono Owes His $700 Million Net Worth To U2 Tours
It's been over four decades, but the Irish rock band U2 is still one of the highest paid music groups in the world. Members Bono, the Edge, Adam Clayton, and Larry Mullen Jr. are known for their best-selling albums and spectacular concert tours. The "U2 360° Tour" is the all-time highest-grossing concert tour ever.
Just from the past year, Bono's net worth is set at $700 million with the bulk of it coming from U2's recent "Joshua Tree Tour." His other revenues come from record sales, streaming, and publishing.
Billy Joel Is Worth $160 Million But Hasn't Released New Music In Decades
With a career that spans almost five decades, Billy Joel has been named one of the best-selling artists of all time with over 150 million records sold. He's best known for songs like "Piano Man," "Uptown Girl," "We Didn't Start the Fire," and "New York State of Mind."
Currently, Joel has a residency at Madison Square Garden in New York City plus other stadium arena tour dates that serve as the bulk of his most recent net worth. Even though he hasn't released any new music in almost 20 years he earned $160 million.
Taylor Swift Has Millions Of Streams And $360 Million
At first Taylor Swift launched her music career as a country singer, but soon realized that her songs didn't fit into just one genre. Her honest songwriting paired with catchy music has earned her numerous award recognition and 150 million single downloads.
At 29-years-old, Swift has one of the most impressive recording careers of any artist. All of her music has over two billion streams and her most recent "Reputation Tour" sold millions of tickets, including a Netflix film deal. This brings her most recent net worth to about $360 million.
Kendrick Lamar Is The King Of Hip Hop With $45 Million
Hip hop is not an easy genre to perfect, but Kendrick Lamar is leading the pack. He's known as one of the most "skillful and successful artists of his generation" and is influenced by some of hip hop's greatest such as Tupac Shakur, The Notorious B.I.G., Jay-Z, Nas, and Eminem.
His records are considered concept albums that include elements of funk, jazz, soul, and spoken word poetry. Also, Lamar was the first non-jazz or classical artist to win a Pulitzer Prize for Music. Lamar's net worth is close to $45 million mostly from streaming, recording, and publishing royalties.
Jay-Z Is Hip Hop's First Billionaire
He's not just Beyoncé's husband, but Jay-Z happens to be one of the wealthiest musicians in the industry. He grew up in the projects in Brooklyn, New York and was able to strike his first record deal shortly after selling his CDs out of his car. Since then Jay-Z has made his fortune through rapping, songwriting, producing, entrepreneurial endeavors, and working as a record executive.
After selling over 100 million records worldwide he's defined as one of the best-selling artists of all time. In June 2019, it was announced that Jay-Z officially became Hip Hop's first billionaire as his net worth hit $1 billion.
Red Hot Chili Peppers Are A Hot Ticket
After 36 years of making music, the Red Hot Chili Peppers are still going strong even though many members have come and gone. Their musical style is mainly characterized as funk rock and they're most influenced by rock/soul artists like Jimi Hendrix, Led Zeppelin, and Bob Marley.
Currently, the band is one of the top streaming artists in the world after reaching 738.6 million streams. Also, fans are dying to see them in concert, making them the 12th most popular touring act in the world. All of their salaries combined equates to an estimated $58 million.
Bruce Springsteen Has Been In Multiple Bands To Make His $500 Million Net Worth
Many musicians have a distinctive voice, but Bruce "The Boss" Springsteen is one of the most recognized singer/songwriters in the country. As the leader of his E Street Band, he puts on long and energetic concerts playing music from albums like Born to Run and Born in the U.S.A.
He took a break for arenas and stadiums to play his music on a Broadway stage, which led to him making it on the official Money Makers top 20 list. After Springsteen on Broadway was extended three times he left with a net worth of $500 million.
Guns N' Roses Are The Bad Boys Of Music With $200 Million
Axl Rose, Slash, Duff McKagan, and more make up the iconic lineup of Guns N' Roses. The band recently finished their "Not in This Lifetime... Tour" proving that they can still play as well as they did a few decades back. When they first started they were considered to be one of the most dangerous bands in the world due to their rebellious and troublesome stage personas.
They owe their $200 million net worth to their stadium concert tours, music royalties, and streaming services. Their work was so well-received that they were inducted into the Rock & Roll Hall of Fame.
Roger Waters Plays The Hits Is Worth A Shocking $310 Million
For those who don't know Roger Waters by name, he's best known for playing the bass and vocals for legendary band Pink Floyd. A little over a decade after they released The Dark Side of the Moon, Rogers left the band to pursue a solo career where he created many albums and toured around the world.
Since he has writing and performing credits for Pink Floyd, Waters was entitled to quite a fortune. He still continues to play Pink Floyd's greatest hits on tour and collect royalties, so it equates his total net worth to around $310 million.
Diddy's Music And Producing Gave Him A Net Worth Of $855 Million
Whether this musician goes by Sean Combs, Puff Daddy, P. Diddy, Puffy, or Diddy he is one of the most accomplished in the business. His career began as an intern at a recording studio where he helped develop the music for artists such as Jodeci and Mary J. Blige.
After he was fired he created his own record label and helped launch more acts including The Notorious B.I.G., Usher, Lil' Kim, TLC, Mariah Carey, and Boyz II Men. With his many product endorsements, record sales, royalties, and more his net worth is set at $855 million.
John Mayer Has Multiple #1 Hits And $40 Million
One of music's most prominent singer/songwriters is John Mayer. He's often highly regarded for his acoustic guitar and soothing lyrics, which earned him seven Grammy Awards and many other prestigious titles. His career started to gain popularity when the internet music market was created, giving him a wide fan base.
Mayer's most recent album soared to the second spot on the Billboard 200 album charts and accounted for a large chunk of his earnings. On top of album sales, he's one of the most streamed artists and continues to sell out concert tours giving him a net worth of $40 million.
Drake's $140 Million Makes Him A Canadian Star
Before getting into the music scene Drake was an actor on a Canadian teenage TV show called Degrassi: The Next Generation. He later signed on to work under Lil Wayne's record label and released his debut studio album Thank Me Later in 2010. This garnered massive praise and rose to the top of the Billboard charts, later going platinum.
Now, his music is among the most popular in the world and has earned him four wins and 42 nominations from the Grammy Awards. Drake's most recent net worth totaled about $140 million. When he's not recording or touring Drake is frequently found courtside at NBA games.