Musicians who have turned their fame into thriving businesses outside of music
These music stars have all used their fame and talent to expand their wealth and brands beyond their songs...
You know them as music stars who have created some of the best songs of this era. While you may have focused only on their music, many musicians have successfully built businesses outside of their music careers while thriving on the fame earned through their songs. From music-based products and services to online gaming, fashion and sports, musicians are known to explore investments outside music, merging their business acumen with fame and passion.
Why musicians are building thriving businesses
The music industry has experienced a major shift as cultural and technological changes have influenced musicians and their listeners. The last century has been one of the best for musicians with a knack for business thanks to the opportunities provided by the digital revolution. We have seen more famous people owning and growing thriving fashion, sports, literature and art brands, with some even showcasing their gaming skills in casinos.
Musicians also leverage their social credibility to build thriving businesses, building on their music fame to sell their products to a loving fanbase. It can be challenging, however, as business conditions are dynamic. Here are some famous names with thriving businesses outside their music life.
Drake
Drake is not just a Canadian star who has sung his way into the hearts of millions of fans globally. He recently invested in a soccer club, indicating a potential direction for his future investments. Drake also invests in Virginia Black, Better World Fragrance, Mod Champagne and OVO Sound and has signed partnerships with Nike, Jordan, Bathing Ape and Apple Music.
In addition to being a serial investor, Drake is also known for his love for sports and casino betting. He has become so popular in the Canadian gaming portal and other online gaming platforms that there is a term called the Drake Curse, which involves players being more likely to lose after interacting with the rapper.
Rihanna
Rihanna built her fame from scratch but has leveraged her music career to launch and build thriving businesses, including Fenty Beauty, Savage X Fenty and Fenty Skin. The Guinness World Record holder is worth $1.4bn USD as of October 2024 and has successfully combined her music, family and business pursuits.
Jay Z
Shawn Corey Carter, or Jay Z as everyone calls him, is probably one of the top five most successful musician-turned-businessmen in the contemporary age. The founder of Roc Nation was worth $2.5bn USD as of 2024 and has an impressive investment portfolio, with names like Uber, ARRIVE, Marcy Venture Partners, Tidal, Armand de Brignac and others. Jay Z invests in real estate, sports agencies and music management.
Beyoncé
Beyoncé has noted several successful business ventures ranging from fashion to beverages and streaming services. She is the founder, CEO and chairwoman of Parkwood Entertainment and co-founded Ivy Park. Beyoncé has business ventures with Jay Z and has strategically invested in companies and brands. Her name is considered one of the most marketable names globally, and she was worth about $760m USD in 2024.
Justin Timberlake
Justin Timberlake has done everything from being a musician and an actor to a businessman, building his $250m USD business empire. He has an impressive investment profile, having invested in several ventures including 3’s, Bai Beverages, 901 Silver Tequila, Hydrow, 1Password and William Rast. The American musician owns shares in the Memphis Grizzlies and is an avid sports fan of the Lakers and Grizzlies.
Selena Gomez
Selena Gomez made headlines when she officially joined the billionaire club with success both within and outside the music industry. Her cosmetics line, Rare Beauty, is a major source of her income, with shares worth more than $1bn USD. She is also interested in real estate investments, brand collaborations and Wondermind.
Dr. Dre
Andre Romelle Young is one of the most successful musicians, record label owners, music managers and musician-turned-businessmen in the US. With an estimated net worth of $500m USD according to Celebrity Net Worth, Dr. Dre has his hands in several ventures outside music, especially real estate and music. His biggest gains came in 2014 when he sold his company, Beats Electronic, to Apple for $3bn USD. Dre also sold a portion of his music catalog for more than $200m USD in 2023, making him one of the top-earning musicians for the year.
Will Smith
Although Will Smith is an accomplished actor, he is also a Grammy-winning musician and businessman. The Fresh Prince was worth about $350m in 2024 and owns several businesses, in addition to investing in companies such as Westbrook Inc., Charter Oak Advisory, Carol’s Daughter, Dreamers VC, Overbrook Entertainment, Treyball Development Inc. and Chromatik.
Lady Gaga, Pharrell Williams, Kanye West and Madonna are some of the other musicians who have turned their fame into thriving businesses outside the music industry.
