The music industry is one of the highest paying business out there. It is a lucrative venture, especially because of all the live shows, tours, albums, and merchandise that musicians can earn from. While this list is not exclusive of earnings from music only as it includes those from outside ventures as well, it goes without saying that successful artists have the potential to earn a lot. Here are the highest-paid musicians and their estimated net worth, according to Forbes as of 2020:
Kanye West - $241M
Kanye Omari West is a rapper with a variety of musical genres and controversial music videos. Despite many controversies, he is very successful not only in music but also in fashion design.
Elton John - $113M
This English singer-pianist was able to make 30 albums and sold over 300 million records, contributing to his success as one of the best-selling music artists.
Ariana Grande - $103M
Currently, the most followed female musician on both Spotify and YouTube. On top of that, she is also the female celebrity to have the most followers on Instagram. All these and her many accomplishments in music and other business ventures make her one of the top female artists today.
Jonas Brothers - $97.7M
Like Ariana Grande, this American pop rock group composed of three siblings also had their beginnings with Disney Channel. Their best-selling songs, albums, and tours contribute to their financial success. The brothers are also known for dating other musicians. Nick Jonas dated Miley Cyrus and then Selena Gomez while Joe Jonas dated Taylor Swift.
The Chainsmokers - $97M
This electronic DJ music production duo, composed of Alexander "Alex" Pall and Andrew "Drew" Taggart, dethroned Calvin Harris in 2019 as Forbes' highest-paid DJ. They are best known for their single "Closer" featuring singer Halsey.
Ed Sheeran - $91M
Aside from selling records over 150 million copies all over the world, Sheeran's tours were also considered the highest-grossing of all time. Two of his albums were also listed as best-selling albums in UK chart history.
Taylor Swift - $90M
With Awards as well as World Records left and right, Swift is considered one of the best-selling music artists of all time with her albums sold over 200 million records worldwide. On top of that, she is widely covered by the media, and that may have contributed to her success.
Post Malone - $85.6M
Austin Richard Post got most of his income from the albums he sells and the ticket sales from his tours. Earlier this year, he was criticized for pushing forward with the concert tour despite COVID-19 restrictions for musicians.
Rolling Stones - $84M
This English rock band bridged the gap between pop-rock and hard rock. They are considered the wealthiest bands in the world, with tours grossing over half a billion dollars. On top of that, they are still touring even though they are rock legends.
Marshmello - $79.9M
Besides Calvin Harris and The Chainsmokers, another DJ is rising to the top as one of the highest-paid musicians. Marshmello, aka Christopher Comstock started remixing songs from other artists like Zedd. Later, he decided to collaborate with other big-time artists such as Selena Gomez and Migos.