With an estimated net worth of $1.3 billion, the singer and entrepreneur has climbed to this level largely due to the success of her beauty brand, Rare Beauty.

According to Bloomberg, Gomez is now one of five living musicians in the billionaire club. Here’s a look at the others who have made the list:

1. Jay-Z – $2.5 billion

Leading the pack is rap mogul Jay-Z, with an estimated net worth of $2.5 billion as of September 2024, according to Forbes. Jay-Z built his fortune not only through music but also by diversifying into business ventures. His Roc-A-Fella Records label launched his career, and he later expanded into sports management with Roc Nation Sports. He also earned significant revenue by selling his stake in the music streaming platform Tidal and owns luxury assets, such as his stake in Armand de Brignac champagne.

Taylor Swift’s impressive net worth hit the $1.3 billion mark in September 2024, following the success of her record-breaking Eras Tour. Unlike others on the list, Swift’s wealth comes almost entirely from her music career, including album sales, touring, and merchandise. With no additional business ventures, her musical dominance alone has secured her a spot in the billionaire club.

3. Rihanna – $1.4 billion

Although she hasn’t released a new album since *Anti* in 2016, Rihanna’s business ventures have propelled her to a net worth of $1.4 billion, according to Forbes. Her beauty line, Fenty Beauty, and her lingerie brand, Savage X Fenty, are major contributors to her wealth. Additionally, her collaboration with Puma, where she has served as creative director since 2014, has further boosted her financial standing.

4. Bruce Springsteen – $1.1 billion

The legendary rocker Bruce Springsteen joined the billionaire ranks after selling his music catalog to Sony for $500 million. His ongoing tour, which started in February 2023 and will continue until mid-2025, has also contributed to his net worth, which Forbes estimates at $1.1 billion as of September 2024.

5. Selena Gomez – $1.3 billion

Joining the list in 2024, Selena Gomez’s wealth comes not only from her music and acting career but largely from her makeup line, Rare Beauty. With an estimated net worth of $1.3 billion, she has proven her business acumen and now stands among the world’s richest musicians.

These five artists have not only dominated the music industry but have successfully expanded into business, turning their talents into billion-dollar empires.

Sarkodie joins a list of other powerful African artists including Akon (Senegalese-American), Wizkid (Nigerian), Davido (Nigerian), Black Coffee from South Africa, Don Jazzy (Nigeria), Oliver Mtukudzi, (Zimbabwean), Jidenna (Nigerian-American), Hugh Masakela (South African) and Tinashe (Zimbabwe – American).

For publishing rights reasons, Ghana’s Hub for Pop Culture & Urban Entertainment News – www.nydjlive.com is able to share only a few information on the artists as shared by Forbes but for Sarkodie.

Read what was said of the top 10 musicians from Africa by Forbes Africa.

1. AKON With over 35 million albums sold worldwide, numerous awards, five Grammy Award nominations, 45 Billboard Hot 100 songs under his belt and over 51 million likes on his Facebook page, Akon.

2. BLACK COFFEE, SOUTH AFRICA Black Coffee, real name Nkosinathi Maphumulo, has not only raised the bar for South African house music, but has put it on the world map. The multi-award-winning artist was born in South Africa’s house music province, KwaZulu-Natal (KZN), raised in the Eastern Cape province, where struggle stalwart Nelson Mandela hailed from, before moving back to KZN to study music. It was worth it.

3. HUGH MASEKELA, SOUTH AFRICA Born in Witbank, east of Johannesburg, Hugh Masekela is committed to restoring African heritage. This world-renowned flugelhornist, trumpeter, bandleader, composer and singer has released more than 43 albums and performed with Marvin Gaye, Dizzy Gillespie, The Byrds, Fela Kuti, Paul Simon, Stevie Wonder and Miriam Makeba. “The music I make, I don’t call it my music. It is based on my township and indigenous rural roots in South Africa. That’s what brought me fame all over the world,” he says.

4. DON JAZZY, NIGERIA Like many artists, Don Jazzy, real name Michael Collins Ajereh, started playing music as a child in church before moving to the UK to pursue his career.

5. TINASHE, ZIMBABWE-AMERICAN Twenty-four-year-old Tinashe Kachingwe sang before she could talk. Her Zimbabwean father Michael, and mother Aimie, from Denmark, have always helped. Tinashe was a child model by the age of three, made her first appearance in 2000 in the film Cora Unashamed and her voice starred in the cartoon feature film The Polar Express alongside Oscar winning actor, Tom Hanks.

6. JIDENNA, NIGERIAN-AMERICAN By the age of 10, Jidenna Theodore Mobisson knew he wanted to do music but was afraid to tell his father who wanted him to be an engineer. It was just as well that his name means embracing the father.

7. WIZKID, NIGERIA Wizkid is arguably currently the uncrowned king of African music. Grammy Award-winning artist, Alicia Keys and husband Swizz Beatz, danced to his songs Ojuelegba and Caro, with Keys posting a video on her Instagram account with the caption, “This song makes me happy” and Kylie Jenner posted a video of herself dancing to Wizkid’s music on snapchat.

8. DAVIDO, NIGERIA Davido has claimed a high status in just five years. The single Back When planted him firmly in the music business in 2011. “It was people like [Nigerian music veterans] P-Square and D’Banj who made me believe that all this was possible,” he recalls. Dami Duro, an unexpected hit, leaked online almost a year prior to its official release, became the crown jewel for his widely acclaimed 2012 debut album, Omo Baba Olowo.

9. SARKODIE, GHANA Born Michael Owusu Addo, Sarkodie has racked up millions of views on YouTube for his music with his debut album and first single, Baby, among the favorites.

He started out as an underground rapper which helped him cross paths with his former manager, Duncan Williams, who helped launch his career. Staying true to his identity, he is a big advocate of Azonto, a Ghanaian genre that is said to have been born out of Kpanlogo, a traditional dance.

Mewu, the first single off his fourth album, Mary, sold almost 4,000 copies on the first day of its release in Ghana’s capital Accra. His hard work does not go unnoticed. Sarkodie was the first Ghanaian to win a BET award and has the most nominations.

In 2015, he was ranked the 19th “Most Influential Ghanaian” by e-TV Ghana and in 2013 and 2015, he was ranked 8th on FORBES and Channel O’s list, “Top 10 Richest/Bankable African Artists.”

His ambitions don’t end here. In 2013, he launched his clothing line Sark by Yas, launched Obidi Chief Headphones which endorses, among others, Samsung and telecommunications company, Tigo.

In 2014, he also launched the music label SarkCess to empower other African artists. 2017 promises to be an even more exciting year for Sarkodie.

10. OLIVER MTUKUDZI, ZIMBABWE Oliver (Tuku) Mtukudzi has 65 albums under his belt — more than Michael Jackson and Whitney Houston. It’s a remarkable career stretching back 41 years with songs that have enlivened parties all over the world. “I never decided to be in the music industry. It was in me. My mother said ‘you are a good singer but you will never surpass your birth cry. Your birth cry was so beautiful’,” says Mtukudzi.