How Beyonce got rich and stays that way
Reported by Liku Zelleke
People may say a lot of things about the “Drunk in Love” singer, Beyoncé. Her body movement, when she’s in mid-swing, causes irregular heartbeats, to say the least. Her beauty is seductive and she knows how to use it to her advantage. Some do not like her for the sensual values that she projects and what it could do to young minds. But, nobody can say that she doesn’t have her head screwed on right when it comes to finances.
In times when it is quite common to hear entertainers rising to the top at unbelievable speed and plummeting downwards at an even faster rate, Beyoncé has managed to go from wealth to more wealth each year.
Although she does make the large portion of her money directly from sales of her works, Beyoncé makes sure that her money comes in from multiple sources. And it’s not just the in-flow that she keeps an eye on – out-flow too is closely monitored to curb economic waste.
In 2010, Forbes magazine named Beyoncé one of the highest-paid women of the year. At the time she earned a whopping $87 million – a number that hasn’t been topped since. By comparison, in 2013, the highest earning entertainer, Taylor Swift pocketed “only” $40 million.
The intelligent way that Beyonce handles her money can be seen in the diversified manner in which she got it in the first place. She earned $4 million from tour sponsors, $14 million from touring and merchandizing, $21 million from album sales, $8 million from publishing music, $5 million from films, $20 million from endorsements and $15 million from fashion.
The other secret is the way she keeps the money. On many occasions, Beyoncé mentions that she is quite frugal and doesn’t spend money when she doesn’t have to. Her clothes and jewelry are almost always given to her for free by the brands that are aligned with her. Once the money has been earned, she doesn’t let it sit in a bank account (at least, not all of it). She he makes the money earn even more money by investing it in ventures that include real estate.
So far, she’s been doing great. Of course, it does help to have a partner who is a business genius in his own right. Her husband, Jay-Z is also one of the top earners in all of entertainment, making them a 21st century hip-hop power couple.