This archive report was first published on 7 December 2019.
Forbes has released its annual list of the world's highest-earning musicians, with Taylor Swift taking the crown for the second time in five years.
According to the list, Swift earned a staggering $185 million (approximately Ksh18.5 billion) in 2019, thanks to a lucrative record deal, numerous endorsement deals, and the tail end of her recent tour.
West, who has rebranded himself as a product guy, came in second with $150 million (approximately Ksh15 billion) in earnings, largely due to the massive sales of his Yeezy sneakers.
Ed Sheeran and The Eagles followed closely behind, with earnings of $110 million (approximately Ksh11 billion) and $100 million (approximately Ksh10 billion), respectively.
Elton John, who is in the midst of his farewell tour, claimed the fifth spot with $84 million (approximately Ksh8.4 billion) in earnings.
Notably, the 10 highest-paid musicians in the world earned a combined $1 billion pretax in 2019, up from $886 million the previous year.
Forbes' rankings were determined by considering income from touring, music, and outside business ventures, with the help of Pollstar, Nielsen Music, and interviews with industry insiders.
Among the newcomers to the list are K-Pop supergroup BTS, songstress Ariana Grande, and hip-hop trio Migos, who diversified their earnings by inking a deal for a piece of Martell cognac.
As Migos cofounder Quavo noted, 'If I'm rapping about drinking in the clubs, they're buying bottles in the club. I need to be having equity in some kind of alcohol.'
Forbes published the full list on December 6, 2019.
