The top 10 richest musicians in America are a visual reminder that Music can be a potentially rewarding career. However, the potential gains are not evenly distributed; it seems that the more talented musicians have a higher opportunity of making money in music. They achieve wealth as their popularity grows, and that popularity also generates more wealth in the form of product endorsements.
So who are the musicians that have made the biggest fortunes in music? Who are those that have dreamt and seen their dreams materialize into reality? Who are those to whom the younger generation will look up to as examples of what they want to become, and the kind of wealth that they want to attain? Let us now look at the wealthiest musicians in America.
Top 10 Richest Musicians In America 2020
1. Kanye West – $1.3 Billion
Kanye West tops the chart with a fortune estimated at about 1.3 billion dollars. Since he dropped his debut album titled ‘College Drop Out in 2004, Kanye has gone from strength, forming a solid partnership with Jay Z, and building a music empire of his own.
Today, Kanye West is the owner of Good Music (a record label) and also he has designing deals with major clothing lines and footwear makers. Kanye West is currently the richest musician in America and also famously declared to run for president of the USA. Whether he intends to follow through with the declaration or not remains to be seen.
Jay Z has now officially been listed as a billionaire by Forbes, making him the second richest musician in America. We do not know if this listing comes with a plaque, but if he gets a plaque then he certainly deserves it to top his already impressive cabinet of plaques and awards. Jay Z did not attain wealth in a day; he has been building this brand for over 20 years.
Now the most influential rapper in the world, Jay Z is not just a musician but an icon. He is well connected in the world of entertainment, business, and politics- a thing shown by his active campaigning for former President Barrack Obama.
He is the owner of several brands, including D’Usse cognac, Roc Nation (an entertainment company) Roc Nation Sports (a sports management company) Armand de Brignac, and Tidal (a music streaming company). Before that, he was the owner of Brooklyn Nets and Def Jam Records.
3. Diddy (Puff Daddy) – $820 Million
Diddy who was also known as Puff Daddy actually made his money in music management. He was pulling the strings behind Bad Boy Entertainment, far back in the ’90s with Christopher Wallace AKA Biggy Smalls as the main artist.
With the death of Biggy came the need to grab the microphone himself. Well, 820 million dollars later, we can say that Diddy has done a remarkable job in deed.
Diddy is still a music promoter, and he is still making a serious fortune from Biggy Smalls music, as well as from Mace, and other associated acts. Diddy even has younger talents bringing in the bread, as well as other ventures like beverages, (Ciroc) and endorsement deals.
4. Dr. Dre – $770 Million
Andre Young AKA Dr. Dre is a Rapper and Producer who did not come into this list by accident. He was already on top of the music game as far back as the 90’s when he was co-owner of Death Row and had Snoop Dog and Tupac under his umbrella. Nearly 30 years later he is still a boss; Aftermath Records produces for Eminem, and 50 Cents.
With a net worth estimated at 770 million USD, Dr. Dre is undoubtedly one of the richest musicians in the world. His biggest hit is “Still Dre” which he did in 1999.
5. Madonna – $590 Million
Madonna once stated in an interview that ‘it was a real scramble to pay the rent.’ The queen of pop music has a real grace to grace story to tell and one of the wealthiest musicians in the United States of America. Madonna has been on stage for many years and continues to shine even today. Some of her songs are everlasting tunes; La Isla Bonita and Frozen continue to iconic songs, adding money to her bank account every year.
6. Mariah Carey – $535 Million
Mariah Carey has a unique voice, a beautiful face, and the kind of body that people would pay money to see. It was these attributes that made the executives at Sony to capture her at an early age, tying her down with a contract and a marriage. She made a lot of money and fame in the ’90s and continues even now to thrill fans with her musical gifts.
7. Dolly Parton – $500 Million
The famous queen of country music has been on stage for more than 40 years. It would be difficult to find a person who can say that he does not know her song ‘Coat Of Many Colours.’ The song has been iconic for several years, and generations have come to fall in love with the song.
She has had a very successful life and career; with 500 million dollars, and a fan base that cuts across several races, ages, religions, and political divides.
8. Gloria Estefan – $500 Million
Gloria Estefan is a naturalized American singer who was born in Cuba. She built her career in the USA and has over 100 million records to boast of. She started her career as the lead singer in a band called Miami Latin Boys, but went solo, and built a career for herself as a singer, actress, and businesswoman.
9. Bruce Springsteen – $460 million
Bruce Springsteen has an iconic voice. Many of the younger generation may know his song ‘Born in the USA,’ but might not know him. Bruce Springsteen has had a glorious career; he is also known as the boss.
Bruce Springsteen has made a solid fortune that actually continues to grow as he gets royalties for his old songs, and does occasional performances for his fans. He is 460 million dollars rich, and one of the top richest musicians in America with his wealth is growing.
10. Barbra Streisand – $400 Million
When you make around 40 million USD by doing just 14 shows, you are well on your way to becoming outrageously wealthy. Barbara Streisand did not get her impressive net worth by mistake; she has had a long and enduring career in entertainment; 2 academy awards, and 10 Grammy awards as well.
She is in fact one of the most respected women in entertainment, and her fortune of about 400 million also makes one of the richest.
11. Johnny Mathis – $400 Million
Johnny Mathis is a musical heavyweight in America; he has more than 70 Billboard charts under his belt. Johnny Mathis has also sold approximately 350 million records, which shows that his estimated net worth of about 400 million did not come about by accident.
He is an iconic pop musician, songwriter, and producer. He has also done Blues, Traditional Brazilian and Spanish Music, and Romantic songs.
12. Jennifer Lopez – $400 Million
Jennifer Lopez is a Latina star; perhaps the biggest in the world. She is also well known as an actress, and dancer. Jennifer Lopez does shows and concerts so well that the atmosphere has been described as electric.
She is said to earn about 40 million dollars a year, and has become an icon, looked up to by young people, particularly of the Hispanic demographic, as a sign of what a person can achieve in America. Her wealth is estimated to be between 380- 400 million dollars.
If you are familiar with this list of the richest musicians in America, you will have noticed that many names that once featured on, or even topped this list have completely disappeared from the reckoning. This is because wealth is dynamic, and requires management if it is to last. With fame and fortune usually comes the temptation to live extravagantly, and that is the source of the woe that has befallen many a musician.