Majority of musicians make their income from music alone, some others from other business, and another few from owning big ventures that double the amount they make from music.
This set of geniuses don’t have to wait for profit from their songs or have to go into the studio to get their bread.
Here are ten musicians that make heavy paper outside the confines of music.
Top Musicians and other business they are into
1. Jay z
Shawn Carter, the man we all know as Jay Z. He dropped many ‘bangers’ while he was still active in music. Just before he stepped down in music, the rapper created Roc-A-Fella records in 1996 which split so He could become CEO and president of Dej Jam, had a clothing line then sold it, owned distribution rights for Armadale Vodka before it got dissolved in 2002. He also had a minority stake in NBA team Brooklyn Nets and is reportedly considering buying shares in EPL side Everton. His current net worth currently at $2.5 billion, making him the richest musician in the world.
2. Rihanna
Robyn Rihanna Fenty, known for her hits like “Work” and “Diamonds”, holds the Guinness World Record for the richest female artiste with an estimated net worth of $1.7 billion. This wealth is acquired through her successful business ventures which is 82% of her affluence. She owns a lingerie company called Savage x Fenty she also launched a beauty line called Fenty Beauty alongside with the French luxury group LVMH.
3. Justin Timberlake
Ten times Grammy winner, Timberlake is another musician you’d think only feeds on music money without considering other business. The collection of what he owns and is into is quite shocking. The Canadian musician has a league of restaurants, and clothing line, started his own record label called Tennman Records, and owns shares in a basketball team, Memphis Grizzlies and is a spoke person for mobile company, Apple.
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4. Diddy
Even though Sean Combs is under fire for sexual allegations on numerous counts it doesn’t change the fact he is still considered a big business guru. The singer earns about $250 million yearly on his clothing line Sean John. The Harvard degree owner owns a chain of restaurants called the Justin’s. He was the executive producer of the hit show “Making the Band” on MTV. Combs was listed in the top 40 entrepreneurs in 2002.
5. Beyonce
Wife to the top of our list, Jay Z, Beyonce Giselle Knowles-Carter doesn’t need her husband to be one of the wealthiest women in the music industry. The 43-year-old runs her world with various endorsements, clothing line called House of Dereon co-owned with her mother Tina Knowles. Ivy Park is another clothing line she owns through her management company Parkwood Entertainment. She also owns a perfume line called Eau De Parfum.
6. Madonna
Madonna has been making hits since the 1980s and has been a formidable businesswoman despite facing ups and downs throughout her career. Her astonishing net worth of $850 million comes from her music, a Golden Globe-winning Actress, writer of numerous children’s books, owner of Maverick Records, and an outstanding fashion designer.
7. Dr Dre
Ranked the fifth richest rapper by Forbes in 2022, Andre Romell Young is the man who created the famous Beat Electronics alongside Jimmy Lovine in 2006. Beats became big in the market in no time. Apple then bought the company from Dre for about $3 billion in 2014. Before creating the company though, Dre created Aftermath Records which brought the careers of Kendrick Lamar, Eminem and 50 Cent to the world.
8. Kanye West
Despite suffering from multiple financial setbacks in 2016 and 2022, his bounce back from bankruptcy is one to be studied. The American musician created his own tech brand called Yeezy Tech and his clothing line (Yeezy) his net worth is estimated to be $450 million in 2024.
9. Pharrell Williams
The man who sang the hit song “Happy” in 2013 is a businessman who goes under the radar. He founded his clothing line “Billionaire Boys Club” and his footwear line “Ice Cream” all the way back in 2003. He has a hand in the food industry, and owns a Mediterranean-themed eatery called Strawberry Moon based in Miami. He and business partner David Grutman also co-own Miami’s Swan restaurant which was opened in 2018.
10. Selena Gomez
The former Disney star, Selena Gomez has been successful in her music and acting career. Even though most of her wealth comes from her career in the entertainment industry, she co-founded a mental health platform “Wondermind”. She owns Gopuff, a food delivery company, and has investments in ice cream brand Serendipity.
