How Katy Perry became one of the most successful self-made women in America
From Taylor Swift to Oprah to Kim Kardashian, female celebrities have achieved financial success in a number of ways, paving the way for more women to grow their wealth. Enter Katy Perry, who last week sold the rights to her music in a $225 million deal that will surely make her a contender for Forbes’ Richest Self-Made Women list next year.?
In this week’s edition of Forbes Edge, we’ll take a look at how Perry has built upon her success over the past 15 years, and how she ranks compared with other women celebrities. And as always, we’ve got plenty of stories to help you achieve your professional goals, from tips on leaving a toxic job to advice on adjusting to Slack’s new interface.
Success story of the week: How Katy Perry became one of the most successful self-made women in America
Last week, pop superstar Katy Perry sold her music rights for a reported $225 million, increasing her net worth to an estimated $340 million.
The transaction is one of the biggest music sales of the year. Perry sold her stakes in master recording royalties and publishing rights for the five albums she released from 2008 to 2020, pushing her into a new financial tier. With her increased net worth, Perry would join the ranks alongside other wealthy female musicians, including Rihanna, Taylor Swift, Madonna, Beyoncé, Celine Dion, Dolly Parton and Barbra Streisand.
The pop star came onto the music scene with her 2008 debut single “I Kissed A Girl,” which went to No. 1 on Billboard Hot 100 and stayed there for seven weeks. Eight other Perry hits would eventually reach the top spot on the charts, including “California Gurls,” “E.T.” and “Firework.”
In 2015, Perry was featured on the cover of Forbes as the third highest-earning entertainer that year. Raking in $135 million pre-tax, she netted more than Taylor Swift, Rihanna and Miley Cyrus combined. In 2019, Forbes named her the ninth highest-earning musician of the decade, with an estimated income of $530 million.
In Her Words: “I am proud of my position as a boss, as a person that runs my own company,” Perry told Forbes in 2015. “I’m an entrepreneur. … I don’t want to shy away from it. I actually want to kind of grab it by its balls.”
Perry’s net worth is mostly comprised of cash from her music career and tour earnings. In 2018, she joined ABC’s American Idol as a judge. When she returns for her seventh season in 2024, she will reportedly earn $25 million. She also has a 32-show Las Vegas residency at Resorts World that will wrap up in November, in addition to a shoe brand, Katy Perry Collections, and a non-alcoholic beverage brand, De Soi.
The 38-year-old singer didn’t make Forbes’ 2023 list of the Richest Self-Made Women in America, which was published in June—but she is sure to be a contender for next year’s edition. Another pop star, Rihanna, was the youngest self-made billionaire on the list. At 35, Rihanna’s most valuable asset is her half of Fenty Beauty, a popular makeup line that she launched in 2017.?
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Thank you for reading! We'll be Thursday with another edition of Forbes Edge.?
This edition of Forbes Edge was written and curated by associate editor Chris Dobstaff.
Katy Perry, the ultimate master of disguise! It's like she's on a mission to wear every costume and hairstyle ever invented in a single music video. Who needs a consistent look when you can have a fashion rollercoaster that never stops? ????????.
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