Madonna Louise Ciccone (The Material Girl or The Queen of Pop) ranks among the most influential and iconic pop stars globally. Dozens of Madonna’s songs hit the Billboard charts, making her a prominent figure in the music industry. She’s an idol for many young musicians. That’s why, as of 2019, Madonna's net worth is about $850 million. Her motivation to achieve great things and build immense wealth is summarised in her words,
"I won't be happy till I'm as famous as God."
Here’s how she made and spent her money.
Madonna's Net Worth: How She Made Her Money
Madonna sold more than 250 million records worldwide. That’s one principal source of her wealth. She started off like most other people, doing odd jobs and getting low pay. But she soon excelled in her craft. This brought tons of cash, which she invested to enhance her wealth further.
Madonna's Net Worth: Doing Odd Jobs
Madonna’s initial dream wasn’t really music. Instead, she wanted to be a dancer. To achieve this, she started off working odd jobs like waitressing, and even nude art modeling. In the pursuit of her dream, she became a member of ‘The Breakfast Club’ band.
Madonna's Net Worth: Starting Out in Music
Although Madonna moved to New York to pursue modern dance in 1977, she turned to a career as a singer. Her first solo album came out in 1980. She released another album the following year, called Madonna. In 1984, she released another album called Like a Virgin. This propelled her to the top of the Billboard charts. She was now an international star.
Multiple Album Releases
Madonna worked on multiple album releases, which further enhanced her music success and grew her wealth. She began ‘The Virgin Tour’ in 1986. For the next few years, she worked on several other albums, including:
‘Who’s That Girl’
‘You Can Dance’
‘Like a Prayer’
She released some of those albums during the ‘Blonde Ambition' world tour, and her ‘Who’s That Girl Tour.’ She also released ‘The Immaculate Collection’ in 1990. This album became the best selling compilation album in history.
Madonna's Net Worth: Making Money from Music
Like a lot of musicians, Madonna started out small. That may come as a surprise for many who don’t know her history. Warner Bros gave her a $15,000 advance per single in 1982. This was her first record deal. The deal also included a $2,500 publishing advance. Through her hard work and talent, she moved up the ranks to earn far much more. By 1990, she made $39 million every year, pre-tax. She reached a point of earning about $125 million between 1986 and 1990. Unlike some pop stars, she was business savvy. She took a keen interest in her financial affairs, making smart investment decisions.
She started building her incredible net worth by age 33. Using her financial acumen, the 33-year-old singer negotiated a $60 million deal with Time Warner in 1993. The deal involved forming her own entertainment company. At the time, she would receive a $5 million advance for every one of her next 7 albums, as well as a 20% royalty rate.
Madonna's Net Worth: Music Success
Madonna went on to release 13 major studio albums containing dozens of hit singles. Her early albums catapulted her to worldwide fame. This made her image and style the hallmark of the 1980s. With such global fame, she earned millions not just from the US music market, but also from many other countries around the world. No wonder her concerts grossed more than $1.5 billion worldwide.
Madonna won so many awards in her career. Here are some of the notable ones:
the Best-Selling Female Rock Artists of the 20th century by the Recording Industry Association of America
the number two best-selling female artist in the U.S. for selling 64 million certified albums
the most successful female artist of all time by Guinness World Records
Glamour Woman of the Year Award (1990)
Grammy Award for Best Dance Recording (1999) by Grammy Awards
Grammy Award for Best Dance/Electronic Album (2007) by Grammy Awards
Billboard Music Award for Top Dance/Electronic Artist (2013) by Billboard Music Awards
Madonna's Net Worth: Music Leads to Acting
Madonna leveraged her success in music to launch her acting career. Her music success helped her land her first acting role in "Desperately Seeking Susan,” a 1985 movie. She also released ‘Madonna: Truth or Dare,’ a documentary film. It primarily focused on ‘The Blonde Ambition World Tour.’
Between 93 and 99 Madonna appeared in several films including:
‘Body of Evidence’
‘Evita’ (a musical drama)
‘Blue in the Face’
Her acting went on to the early 2000s. She took on roles in such films as:
‘The Next Big Thing’
‘Die Another Day’
‘Arthur and the Invisibles’
‘I’m Going to Tell You a Secret’
Madonna took on acting with the same zeal that she took on music. She took on many roles in multiple films over her career. The most notable films include:
A Certain Sacrifice (1979)
Desperately Seeking Susan (1985)
Vision Quest (1985)
Shanghai Surprise (1986)
Bloodhounds of Broadway (1989)
Dick Tracy (1990)
Shadows and Fog (1991)
A League of Their Own (1992)
Girl 6 (1996)
The Next Best Thing (2000)
Die another Day (2002)
Swept Away (2002)
Arthur and the Invisibles (2006)
Madonna's Net Worth: How She Spent Her Money
Although Madonna splurged on many luxuries, she wisely managed her money. That’s why she still has a high net worth. Here are some of the ways she spent her money.
Madonna’s art collection is worth at least $100 million. In the right market, it can bring in much more than that. Her art pieces include:
one of only 5 paintings by Frida Kahlo
art from Picasso
Diego Rivera’s art
Damien Hirst’s pieces
Art by Marilyn Minter
Madonna's Net Worth: NYC Triple-Wide Home
As other high net worth individuals, Madonna also owns her dream home. Madonna’s NYC triple-wide home is 57 feet across. She bought the four-story Manhattan building for $40 million, in 2009. That amount doesn't even include the value of the art collection displayed within her home, worth at least $100 million. To get a mental picture of the grand building, imagine a red-brick Georgian style home with 13 bedrooms. The building has multiple rooms and features, among which are:
a 19 x 21 foot kitchen
a large drawing room overlooking an outdoor garden
a two-car garage
For anyone who owns property, you know that buying the home is just one cost of homeownership. You also pay taxes and other maintenance costs. Madonna pays $30,000 in quarterly taxes. When one has this much money, it must be difficult to keep up with finances. But the key is in good organization. Apparently, the cost of owning such properties isn’t a big deal for Madonna, since she owns multiple properties. Some are located in Los Angeles, London, and Portugal.
Perfume, Fashion Wear, and Skin Care
Madonna invested her money in many other ventures. One notable investment is a stake in Tidal, the $600 million streaming service. She also put a bit of her money in the clothing business, with her M by Madonna clothing line for H&M. She took her interest in clothing further with an MG Icon clothing line at Macy’s.
Apparently, she has a strong focus on fashion, since she also has a sunglasses line with Dolce & Gabbana. Besides that, she produced a range of products from purses to footwear. Recently, she got into the skincare world with MDNA skin. In 2018, Madonna got into the work-out industry with Hardcandy Fitness.
Raised $7.5 Million for Malawi’s Pediatric Centers
Madonna’s contributions to Malawi exemplify her charitable side. Every year, she makes multiple trips to the African country every year. She also visited the country in 2018 with her six children. She attended the one year anniversary of Mercy James Pediatric Hospital. It’s a children’s hospital that she helped build.
Hardly any other celebrity can match Madonna’s achievements. She has not only excelled in the entertainment industry but also became one of the richest celebrities.
Through her investment acumen, she has maintained a healthy debt-to-income ratio. This has preserved and grown her personal finances over the years.