Bruce Springsteen has become a billionaire after his net worth rapidly increased in recent years, according to Forbes. The publication estimated that the musician is worth around $1.1 billion following a lengthy career that has seen him release 21 studio albums, selling over 140 million copies globally. Springsteen made around $500 million from the sale of his masters and publishing rights to Sony Music earlier this year, while his ongoing European and UK tour, 40th anniversary re-release of ‘Born In The U.S.A.’ and concert documentary have generated further income.
Springsteen joins Paul McCartney and Taylor Swift as one of music’s newest billionaires. Earlier this year, McCartney became the UK’s first billionaire through the value of his extensive back catalogue and touring activities. Swift, meanwhile, has seen her wealth skyrocket thanks to a string of re-recorded albums made in a bid to regain control of her masters and her colossal Eras tour. Forbes estimated Swift has made $500 million from her royalties and touring, and another $500 million from her catalogue.
Springsteen is one of several heritage acts who have recently sold off their extensive catalogues. Bob Dylan sold his music to Universal Music Publishing Group in a $300 million deal, while Neil Young made a deal with Hipgnosis Songs Fund, who bought 50% of the rights to his back catalogue for an estimated $150 million.
Springsteen is currently wrapping up his UK and European tour and will play Wembley Stadium on 25-26 July. Disney+ and Hulu will release his forthcoming documentary Road Diary: Bruce Springsteen and The E Street Band in October, although a firm release date has yet to be announced. The concert film will focus on Springsteen’s ongoing tour. The musician recently became the first international Fellow of the Ivor Novello Academy, following in the footsteps of Elton John, Kate Bush, Annie Lennox, and Paul McCartney
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