2023 showed Beyoncé is on her way to becoming a billionaire

BY Ben Ebuka Oji December 27, 2023 11:10 AM EDT
Beyoncé Knowles
Beyoncé Knowles. Credit: Kevin Mazur/Wireimage For Parkwood

Beyoncé concluded 2023 on a high, entering 2024 in grand style with her new net worth of about $800 million, thanks to her outstanding business deals and a record-breaking tour in 2023.

After surpassing the half-a-billion dollar mark six months ago, the former Destiny’s Child lead singer is approaching the $1 billion milestone, a feat that would admit her into a very small company of entertainers who have become billionaires.

In June, Beyoncé was ranked as the 48th richest self-made woman in America according to Forbes and the 5th wealthiest Black woman in America with a net worth of $540 million. But within a few months, the iconic singer’s net worth has skyrocketed from $450 million to an astonishing $800 million, despite the termination of the partnership between her clothing line, Ivy Park, and Adidas earlier in the year due to creative issues in the contract.

Beyoncé’s net worth experienced a significant boost primarily due to her highly successful Renaissance tour. This blockbuster tour, which took place from May to October, covered an impressive 39 cities across 17 countries in a total of 56 shows. The revenue generated from the Renaissance tour exceeded $579 million, making it one of the top 10 highest-grossing tours in the annals of music touring.

Beyoncé’s ability to break norms and establish new standards remains a significant factor in her immense success. She possesses the talent to constantly reinvent herself in various ways, allowing her to maintain her position at the forefront of the industry. This was eloquently acknowledged by Tailor Swift in a recent interview with Time magazine:

“She’s [Beyoncé] the most precious gem of a person—warm and open and funny. And she’s such a great disrupter of music-industry norms. She taught every artist how to flip the table and challenge archaic business practices,” Swift says. “There were so many stadium tours this summer, but the only ones that were compared were me and Beyoncé.”

Artistic Creativity and Business Acumen Drives Financial Success

It is estimated that she earned around $100 million (after taxes) from her highly successful Renaissance World Tour, which generated over $579 million in revenue. Additionally, according to Forbes, the adjusted estimate of her music catalog and art collection is approximately $300 million. 

Renaissance also had a remarkable opening weekend in cinemas, grossing about $27.4 million worldwide and claiming the top spot at the US domestic box office.

She recently collaborated with the renowned French fashion house Balmain on Renaissance Couture, showcasing her versatility and influence in the fashion industry. Additionally, she introduced her $160-priced luxurious fragrance, Cé Noir, in November.

In addition to her prosperous endeavors, Beyoncé’s wealth is bolstered by the combined personal assets she co-owns with her billionaire spouse, Jay-Z. Jay-Z and Beyoncé hold a substantial real estate portfolio valued at $320 million. It is worth mentioning that their asset collection includes a remarkable $200 million Malibu mansion, acquired in June, which stands as the priciest residence in California’s history.

With this recent surge in net worth, Beyoncé and Jay-Z now possess an astonishing combined fortune of $3.3 billion, marking an increase from their previous wealth of $3.04 billion.

It is undeniable that Beyoncé would relish joining the likes of Oprah and Rihanna among the list of very few Black female entertainers who are billionaires. It is only a matter of time until that happens.