The Queen of Pop, Madonna, an ever-present figure of the celebrity world has a net worth of $590 million and is one of the most influential music figures of today’s age.
She has recently celebrated her 60th birthday, born on August 16, 1958, Madonna is one of the oldest celebrities still important today. Along with raising 7 children, many would say it’s a miracle she manages to keep herself sane, let alone manages her finances. She is an expert at managing her income and is a good advisor on celebrity finance. So what sets Madonna apart, how does she do it?
Now, an important part of Madonna’s finances is her income. Most American households rely on one simple job per adult family member. While this is alright, Madonna does something a bit different. Obviously, the thing she is most known for is her music, selling enough albums to earn $1.2 billion. However, this isn’t where all of Madonna’s gross income comes from, Something the average American neglects to note the importance of is investments and savings.
Madonna, for example, invested in the streaming service called Tidal, which by itself is worth $600 million, even more than her total net worth as of the writing of this article. While your average American won’t be able to invest the kind of funds Madonna is, investing even 100$ a month is something that, if well placed, can raise up to tens of thousands of dollars within a year or two.
Another important point is savings, it is rumored Madonna saves up to $100 million, which gives her a nice and hefty safety blanket. This is what makes her so resilient, even if her career and investments failed, Madonna would be able to retire quite comfortably on her savings alone. Now, not everyone has $100 million to throw around, however putting $200 or so a month into the bank can easily get up to over $50,3000 by the time of ones’ retirement, even at a low increase in value.
That said, Madonna enjoys quite a lavish lifestyle. Having converted to Kabbalah, a form of Judaism, she has refused to drink any water other than $10,000 worth of blessed Kabbalah water which is delivered straight into her home. Even her birthday party cost upwards of a million.
Another thing Madonna has invested in is real estate, for example, her $20 million penthouses is seen by many as an extravagant, needless expense. However a thing many Americans have yet to realize is that real estate is one of the most secure investments one can make, there are many things society can outgrow, but the need for a space to live in isn’t one of them. This means that this flat can always be rented or even sold for almost the same price she paid for it. And if not, she’ll have even more to leave to her 7 children.
Another important thing is that Madonna treasures her time, as she’s said multiple times on TV and Twitter, she doesn’t spend much of her time dawdling. Unlike the average American which can spend up to 4 hours on their television, Madonna spends it earning, she finds ways to work and invest so that her wealth grows even further.
With her smart business decisions and fame combined, Madonna truly deserves to be the richest female musician in the US as well as one of the richest self-made women in the world.