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Beyoncé Close to Billionaire Status After Massive ‘Renaissance’ Tour Haul

Mr. Nimbus | 12/13/2023

Thanks to the massive haul from her Renaissance world tour, Beyoncé is on the cusp of becoming a billionaire. According to a new estimate from Forbes magazine (paywalled), the singer’s net worth has ballooned by nearly $300 million this year to $800 million.

Back in June, Queen Bey, 42, came in at No. 48 on the financial magazine’s annual ranking of the richest self-made women in America with a then-estimated worth of $540 million. The boost in the singer’s bottom line was attributed to Beyoncé’s 2023 earnings, specifically the estimated $100 million (post-tax) she pulled in from the Renaissance tour.

Forbes estimated that the rest of the financial windfall was a result of the magazine’s adjustment of their previous estimate of her music catalog and art collection; Forbes estimated that the singer’s catalog is now worth around $300 million. The remainder of her net worth comes from a combination of the personal assets Bey shares with husband Jay-Z and business holdings in her Parkwood Entertainment company.

Forbes said that the couple’s real estate portfolio is worth an estimated $320 million, including a $200 million Malibu, CA mansion they bought in June, which is believed to be the most-expensive home in California history.

Citing Billboard figures, Forbes reported that the major bump to Beyoncé’s net worth came from the tour, which ran from May to October and hit 39 cities in 17 countries, with $579 million in revenue, making it one of the highest-ever grossing tours. Another stream that contributed was the recently released Renaissance: A Film By Beyoncé, which she wrote, directed and produced. Like Taylor Swift, Bey struck a direct deal with AMC Theaters that worked around studio participation and allowed for a direct split of revenue; final box office figures are not yet available, but the movie grossed more than $27 million worldwide in its opening frame.

Swift, who attended the London premiere of the Renaissance film, also had a banner year, with Forbes estimating in October that Taylor had passed into billionairedom thanks to her $190 million net (post-taxes) from her massive Eras Tour. In her TIME Person of the Year cover story, Swift paid tribute to Beyoncé’s acumen and inspiration, telling the magazine that she is, “a great disrupter of music-industry norms… She taught every artist how to flip the table and challenge archaic business practices.”

This post was originally published on this site

Written by Mr. Nimbus

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