Katy Perry Reigns as America’s Wealthiest Self-Made Woman, Amassing a Staggering Net Worth of $340 Million in 2023.
Renowned pop icon Katy Perry has made a major financial maneuver by selling her music rights to Litmus Music, a company supported by the Carlyle Group, reportedly fetching a remarkable $225 million. This transaction has catapulted her net worth to an astounding $340 million, according to Forbes, solidifying her status as one of America’s wealthiest self-made women.
The agreement included Katy Perry’s ownership interests in master recordings, royalties, and publishing rights for her five albums released between 2008 and 2020: One Of The Boys, Teenage Dream, PRISM, Witness, and Smile, according to Variety. Litmus Music, established in August 2022 by industry veterans Hank Forsyth and Dan McCarroll, swiftly rose as a significant contender in music rights acquisition, having secured notable deals earlier in the year, such as obtaining the catalog of country star Keith Urban and the hit-packed portfolio of music producer Benny Bianco.
Although Litmus Music representatives refrained from disclosing precise details of the Perry transaction to Forbes, it undoubtedly stands out as one of the most notable music sales of 2023. Earlier in the year, rapper Dr. Dre purportedly garnered over $200 million from the sale of a portion of his royalties, while Justin Bieber also struck a deal to sell his publishing rights and royalties from master recordings for a comparable sum.
At 38 years old, Perry didn’t secure a spot on Forbes’ 2023 list of the ‘Richest Self-Made Women in America,’ released in June, mainly due to her estimated net worth falling below the minimum threshold of $225 million required for inclusion. However, she continued to dominate the charts with eight more No. 1 hits, including smash hits like “California Gurls,” “E.T.,” and “Firework.” Back in 2015, Forbes showcased her on the cover as the third highest-earning entertainer, surpassing the combined earnings of Taylor Swift, Rihanna, and Miley Cyrus.
Perry’s entrepreneurial drive was evident as she expressed pride in her leadership and business endeavors, emphasizing her dedication to seizing opportunities. Forbes acknowledged Perry’s success by ranking her as the ninth highest-earning musician of the decade in 2019, boasting an estimated income of $530 million, largely stemming from her music career and profitable tours. Moreover, she ventured into television as a judge on American Idol in 2018, a role she continues in 2024, reportedly earning $25 million for her participation.
Perry’s varied ventures also feature a 32-show Las Vegas residency at Resorts World, slated to wrap up in November, along with her own footwear line, Katy Perry Collections, and a non-alcoholic beverage brand, De Soi. While the sale of her music catalog represents a major financial decision, it doesn’t signify her complete withdrawal from the music scene, offering her fans reassurance for the time being.
