Beyoncé’s net worth falls below $800 million, losing $40 million

Timilehin Adejumobi -

Key Points:

  • Beyoncé’s net worth has declined by $40 million this year, bringing it to $760 million from $800 million.
  • Despite the dip, Beyoncé remains one of the wealthiest Black women, with her Renaissance World Tour grossing over $579 million.
  • Beyoncé continues to diversify her portfolio with ventures like her new hair care line, Cecred, and a fashion collaboration with Balmain.

Beyoncé Knowles, the renowned global music and entertainment icon, has witnessed a significant decline in her net worth, after reaching $800 million last year.

According to Forbes, the U.S. business magazine tracking the fortunes of the global elite, Beyonce’s net worth has dropped by $40 million since the start of the year, bringing her current net worth to $760 million, down from $800 million.

The decline in her wealth is primarily due to the revaluation of some of her assets. This financial adjustment comes on the heels of the launch of her first-ever hair care line, Cecred.

Beyoncé: Among richest Black women

Despite the recent dip in her net worth, Beyoncé remains one of the world’s wealthiest Black women. Last year her blockbuster Renaissance World Tour, which spanned 39 cities across 17 countries, grossed over $579 million, far exceeding initial estimates and securing a spot among the top 10 highest-grossing tours in history.

Post-tax earnings from the tour amounted to $100 million, underscoring its monumental success. Beyoncé’s decision to expand the tour from 41 to 56 stops played a pivotal role in exceeding the initial revenue projections, which ranged from $275 million to $428 million when tickets were first released in February.

Queen Bey reigns supreme: Music drives Beyoncé’s rise to wealth

Beyoncé’s music career, spanning nearly three decades as a solo artist and with Destiny’s Child, has been the cornerstone of her financial empire. Her impressive earnings have significantly bolstered her fortune, solidifying her place among America’s wealthiest celebrities.

Her wealth extends beyond music. She shares assets with her husband, Shawn “Jay-Z” Carter, a billionaire in his own right. Additionally, Parkwood Entertainment, the entertainment company she founded in 2010, contributes to her overall net worth.

While headlines swirled around the termination of her Ivy Park clothing line with Adidas, Beyoncé swiftly pivoted, collaborating with fashion house Balmain on a new collection. The recent launch of her care line brand, Cecred, further underscores her commitment to leveraging her influence and entrepreneurial spirit.