Top ten richest musicians in the world

While up and coming musicians grumble about the utter collapse of the old business model and legendary acts speak out against streaming sites like Rdio and Spotify, it’s comforting to know there are still musicians swimming in piles of money.

Wealth-X list of the world’s top 10 richest recording artists – or as we like to call them, the “musical one percent” – are collectively worth over US$5.8 billion dollars. Not bad considering the majority of them are in their forties.

At the top of the list is the constantly evolving pop artist and icon Madonna Louise Ciccone (yes, she has more than one name). While she entered the scene in the 1980s with edgy lyrics that would look like they were written for a kid’s show in today’s musical climate, Madonna has found a way to stay relevant and hold on to her fortune, selling 300 million records globally and launching monster tours. The 56-year-old has a net worth of US$800 million.

Next up in rock and roll legend Paul McCartney. You might be inclined to think the 72-year-old made his US$660 million fortune playing with this wee band from Liverpool known as The Beatles, but McCartney only made US$7 million between 1960 ad 1970. The rest of his money stacks came from his illustrious solo career and an array of real estate, music publishing and artwork he holds.

And how could you forget about Andre Romelle Young, otherwise known as Dr. Dre. The 49-year-old west coast hip-hop artist, producer and businessman – he sold his Beats headphones to Apple this year for US$3 billion – has built a US$650 million dollar personal empire. Straight Outta Compton and to the bank, right?

The fourth richest is another rapper, Sean John Combs aka Puff Daddy aka P. Diddy aka just Diddy aka whatever he is going as at this moment. Combs made his US$640 million fortune by bringing Notorious B.I.G. up. After the success of Biggie, Combs diversified, funding a record label and clothing line among other ventures. Little known fact, Combs attended two years of business school before dropping out to intern at a record label.

And in fifth place is national treasure and the only Canadian on the list, Justin Bieber. Just kidding. It’s actually Celine Dion (Sorry, Biebs). The Quebecois singer, responsible for the ear worm “My Heart Will Go On and On and On and On”, is worth US$630 million.

The bottom five are: Bono, worth US$590 million, Mariah Carey, worth US$520 million, Jay-Z, worth US$510 million, Sir Elton John, US$450 million, and Beyoncé US$440 million.