Tyler Perry, Kylie Jenner and More Celebrities Who Are Billionaires
These stars have made a fortune off of their business ventures in various industries, including music, makeup and media
The entertainment magnate's net worth is estimated at $1 billion by Forbes. The outlet reported on Sept. 1, 2020 that Perry has earned more than $1.4 billion in pretax income since 2005.
Perry currently owns Tyler Perry Studios, a 330-acre lot in Atlanta valued at $280 million where he films his TV shows and movies, all of which he owns. According to Forbes, the actor, director and producer also has a stake in the streamer BET+, $300 million in cash and investments and $40 million in homes and various possessions. However, Perry doesn't keep all of his fortune to himself.
The Medea creator has become one of the most charitable celebrities, often quietly helping his own community in Atlanta as well as people whose stories draw his attention.
Most recently, Perry gifted 1,000 Kroger gift cards to those living in Atlanta with help from police officers at the Atlanta Police Department who went door to door in neighborhoods to hand them out. He also announced he was paying for the funeral of Rayshard Brooks, the Atlanta man killed by a police offer, as well as his four kids' college educations.
The music mogul was deemed a billionaire by Forbes in April 2020. The outlet reported his estimated worth is $1.3 billion, however, West claimed, "It's $3.3 billion since no one at Forbes knows how to count."
According to the outlet's recent feature on West, the star was upset when he wasn't featured on the site's early April 2020 list of billionaires and texted his disapproval. Forbes staff explained that "without sufficient documentation on his unusual stake, versus just his word and industry guesstimates, we didn’t call him a billionaire." In response, West and his team provided what the outlet felt like was "an authentic numeric look into Kanye, Inc." and concluded that "West's stake in Yeezy indeed makes him a billionaire."
Additionally, Bloomberg reported on April 24 that Yeezy is West's largest asset "by far," and a document reviewed by the outlet showed that "Bank of America Corp. valued the sneaker side of the business alone at as much as $3 billion last year."
Jenner was named the youngest self-made billionaire in the world by Forbes for the second year in a row. While there have been some online critics who question whether the term “self-made” could apply to a member of the Kardashian-Jenner family, Forbes explained that, “despite a lot of help from her famous family, she didn’t inherit her business — she built it.”
According to the outlet, the Kylie Cosmetics founder is only one of 10 billionaires in the world under the age of 30. While seven of them are heirs, only three are considered self-made because they created their own fortunes — Stripe co-founder John Collison, 29, Snapchat co-founder Evan Spiegel, 29, and Jenner, 22.
With a net worth of $2.6 billion, Winfrey maintained her billionaire status in 2020, according to Forbes. The star's ongoing wealth can be attributed to her hit talk show, which transitioned into a media empire, her OWN cable network, her partnership with Weight Watchers and her 2018 deal with Apple's streaming service, which will allow her to create original content, including a book club, documentaries and TV series.
The entrepreneur is the first hip-hop artist to become a billionaire.
Since his retirement from rap, JAY-Z has expanded his empire exponentially by focusing his efforts on building an art collection worth $70 million, purchasing real estate worth $50 million, creating Tidal, a music streaming service worth $100 million, partnering with Bacardi to create D'Ussé, a cognac which is now worth $100 million, founding Roc Nation, a media company that represents the world's top artists and athletes, worth $75 million, and more, according to Forbes.
Most recently, the three-term mayor of New York City used his $55.9 billion fortune toward his campaign to run for president. Since dropping out of the race in early March 2020, he's using his funds to help fight the coronavirus (COVID-19) pandemic.
On March 17, Bloomberg Philanthropies announced a new $40 million coronavirus global response initiative to help prevent or slow the spread of COVID-19 in low- and middle-income countries, according to a statement from the organization.
"Millions of lives depend on getting the coronavirus response right – and so does the economic and social health of communities around the world," Bloomberg said in a statement. "We need to slow transmission of the virus and minimize the impact of the outbreak in all countries.”
While working to revolutionize the transportation industry, on earth and in space, Musk has amassed a net worth of $39.6 billion, according to Forbes.
The star is known best for founding Tesla Inc. in 2003 and SpaceX, his rocket company, which is now valued at more than $20 billion, according to the outlet.
Say hello to the richest man on the planet. Since founding to his hugely successful e-commerce site Amazon in 1994, Bezos is now worth $143.3 billion, according to Forbes.
Bezos has since purchased The Washington Post and aerospace company Blue Origin. He has also pledged to help fight the coronavirus pandemic by donating $100 million to Feeding America.
"Feeding America will quickly distribute the funds to their national network of food banks and food pantries, getting food to those countless families who need it," he wrote on Instagram. "Feeding America is the largest non-profit focused on food security. Millions of Americans are turning to food banks during this time. If you want to help, the link to Feeding America is in my bio. They’d be excited and grateful for donations of any size."