“I felt like it was time to set up my future, so I set a goal. My goal was independence.” – Beyoncé Knowles
Beyoncé Knowles-Carter is an American singer and a global brand. She has dipped her toes in many ventures – from various endorsements such as Pepsi, American Express, and Tommy Hilfiger; the fashion brands Deréon & Ivy Park, various philanthropic ventures, and most notably, her co-ownership of music-streaming service, Tidal.
Men and women all over the globe look up to Beyoncé for her powerful musical talents, activism, feminism, family values, and wealth accumulation. Today, the focus is on the business side of Beyoncé.
Beyoncé married rapper and entrepreneur Jay-Z, and the two were named pop music’s first billionaire couple in 2013. In 2014, Beyoncé and Jay-Z grossed $109.6 million from their joint On the Run Tour. Their follow-up, the On the Run Tour II grossed $253.3 million in 2018. Clearly, they are a power couple, even with the numbers alone. As of 2019, her own net worth is $500 million USD. Combined with Jay-Z’s artistic income and business ventures, the power couple is estimated to have a net worth of over $1.25 billion USD.
Beyoncé has also made money from her appearances, various modeling jobs, fashion magazines, and most exciting to fans, her concert tours. She also has her own company, Parkwood Entertainment. Through this venture, she produces movies, music, and her fashion brands.
Most recently, Beyoncé dropped a Netflix special, Homecoming, which was her self-written, directed, and produced documentary based around her headlining of Coachella in 2018, but also the intense preparation for said performances due to her child birth and family obligations.
There were initial conversations by blogs about her being paid only $4 million for Coachella, compared to the $8 million that Ariana Grande supposedly received. But here is an example of the businesswoman that Beyoncé is. While Beyoncé may have been paid $4 million initially, she actually has a three-part deal with Netflix worth a whopping $60 million! That measly $4 million doesn’t seem like much, now does it? What is even more important is that she is credited as executive producer, writer and director. This is the difference between being your own boss and just an artist. The front-end money may seem attractive, but the real money is in the back-end. While everyone is shocked at her low income from the performance alone, Beyoncé is already planning on how to flip that $60 million into $120 million.
How does this apply to your own life? Think about the long-term value of everything you do. Do you own the work you create? Do you own any equity of what you are investing in? How many pockets are being filled by your work? These are just a few of the many things that any entrepreneur should be thinking about. Regardless of whether you are in the arts, business, or labor industry, work towards ownership. There is no freedom in accepting only a salary until retirement. Even when I worked for a Canada-wide literary journal in University as a Junior Editor, I noticed that in the published books, the font of my name (amongst the various other Junior Editors) was smaller than the Senior Editor’s. So what did I do? I pushed and within a year, I became the Senior Editor so my name was in BOLD. That doesn’t make me vain. That just made me prove to myself in a physical form that I am destined to be great and to own whatever I do to the best of my ability.
Aside from the great music that Beyoncé has produced, look at Beyoncé The Businesswoman. There is a lot you can learn from her and emulate in your own life. If a country-girl from Texas can take the world by storm, so can you.
Until next time,
Live Long and Prosperous.
J.M.
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