Bruce Springsteen is officially a billionaire
Bruce Springsteen has officially reached billionaire status, with his net worth accelerating in the past few years.
According to a recent estimate by Forbes, The Boss is apparently worth $1.1 billion, following a six-decade career that’s seen him release 21 studio albums, seven live albums, and five EPs, selling over 140 million albums globally.
In 2021, Springsteen sold his masters and publishing rights to Sony Music in a combined deal worth around $500million (£377m). According to Billboard, the sale gave the company ownership of the musician’s entire back catalogue, which at the time consisted of 20 studio albums, 300 songs, 7 EPs, 23 live records and more.
Alongside the sale of his masters, Springsteen continues to generate income through new projects. This year alone, he’s embarked on a three-month European and UK tour, released a special edition 40th anniversary re-release of his 1984 album ‘Born In The U.S.A.’, and announced a new concert documentary.
Springsteen joins Paul McCartney and Taylor Swift as one of music’s most recent billionaires. Earlier this year, it was announced that the former Beatle had become the UK’s first billionaire musician, aided by his touring in 2023 and the lucrative value of his lengthy discography.
Swift, meanwhile, has seen her wealth skyrocket in recent years thanks to a string of re-recorded albums which she made in a bid to regain control of her masters, as well as her colossal Eras tour. In their summary of Swift’s wealth, Forbes estimated she had made $500million (£398million) from her royalties and touring and another $500million from her catalogue. The most recent re-recording was the re-release of her 2014 album ‘1989’, which went on to outsell the original record.
Springsteen is one of a handful of heritage acts who have recently sold off their extensive catalogues, following in the footsteps of iconic musicians such as Bob Dylan, Stevie Nicks and Neil Young.
Dylan sold his music to Universal Music Publishing Group for $300 million (£226 million) while Young made a deal with Hipgnosis Songs Fund, who bought 50 per cent of the rights to his back catalogue for an estimated $150 million (£113 million).
In 2022 The Boss released ‘Only The Strong Survive‘, a cover compilation album recorded in the midst of the pandemic. NME awarded it a glowing four-star review, writing: “Not only does it shine a light on what inspires one of the greatest living American songwriters, it also works to preserve the greats of the past and ensures that the best music and stories continue to survive.”
Springsteen is currently wrapping up his UK and European tour and will play London’s Wembley Stadium on July 25 and 26. You can find any remaining tickets here.
NME caught Springsteen’s Hyde Park shows in July last year, giving it a full five stars: “A force of personality like no other, if Springsteen’s ultimate goal really is to change lives by night, then it’s mission accomplished here. Punctuated with lessons of life, love and loss, he’s hit another home run at Hyde Park.”
Springsteen’s forthcoming documentary Road Diary: Bruce Springsteen and The E Street Band, has been confirmed to release on Disney+ and Hulu in October, although a firm release date has yet to be announced. The concert film will focus on Springsteen’s ongoing tour.
Springsteen also 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.
In his speech, the New Jersey rocker admitted “while I was stone-cold born in the USA, at 16 I desperately yearned to be British”: “I had a pretty good fake British accent – that’s what the checkout girls at the local supermarket thought. But I have had a lot of wonderful history here.”
The night also saw Beatles legend and fellow music billionaire Paul McCartney jokingly roast him before introducing him to the stage, claiming: “He’s never worked a day in his life”.
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Laura Molloy
NME
