The global music industry witnessed a financial spectacle in 2025, with its biggest stars amassing fortunes that shattered previous records. According to the definitive annual ranking by Forbes magazine, the top 25 highest-paid musicians collectively earned a staggering $1.9 billion in the last 12 months. The average earnings for an artist on this elite list hovered around an impressive $52 million.
A New King of the Cash Crown
In a surprising shift at the summit, Canadian singer-songwriter The Weeknd (Abel Tesfaye) clinched the No. 1 spot, dethroning the perennial favourite, Taylor Swift. The Weeknd's estimated earnings of $298 million propelled him to the top, making him the highest-paid musician in the world for 2025. This victory was powered by a formidable trifecta: his massively successful 'After Hours Til Dawn' tour, which crossed the historic $1 billion mark; a chart-topping album 'Hurry Up Tomorrow'; and a lucrative deal for his music catalogue.
Taylor Swift, while moving to the second position, was far from a slouch in the earnings department. She secured the runner-up place with an estimated $202 million. Her financial year was bolstered by the record-breaking sales of her album 'The Life of a Showgirl', a profitable Disney+ documentary deal centred on her monumental Eras Tour, and relentless revenue from streaming and her extensive back catalogue.
Touring Titans and Billion-Dollar Milestones
The financial narrative of 2025 was overwhelmingly written on the road. Live performances were the primary engine for wealth generation for most artists in the top 10. An exclusive group of six musicians, including The Weeknd, managed to rake in nine-figure sums (over $100 million) each.
Beyoncé, ranking third with $148 million, had a landmark year. Her innovative 'Cowboy Carter Tour' not only redefined genre boundaries but also became the highest-grossing country tour ever. This strategic success, involving limited stadium residencies, officially propelled her into the rarefied air of billionaire status.
Following closely were hip-hop luminary Kendrick Lamar ($109 million) at fourth place, whose co-headlining tour with SZA set new records, and British rock band Coldplay ($105 million) at fifth, whose 'Music of the Spheres World Tour' continues to be a global juggernaut. Colombian superstar Shakira ($105 million) tied for fifth, marking a powerful comeback with the highest-grossing Latin tour by a female artist.
The Rest of the Top 10 Power Players
The list showcased a diverse mix of genres and generations. The lower half of the top 10 featured established hitmakers and rising stars:
- Drake secured the seventh spot with $78 million, leaning heavily on his vast streaming catalogue.
- Chris Brown earned $74 million at number eight, celebrating two decades with a successful stadium tour.
- Country music's breakout star, Zach Bryan, quietly claimed ninth place with $70 million, aided by a major publishing deal.
- Global Latin phenomenon Bad Bunny rounded out the top ten with $66 million, thanks to a hit concert residency in Puerto Rico and streaming dominance.
The Forbes list, dated January 6, 2026, highlighted that the year's highest-earning group comprised 17 men and 8 women, including several young talents recognised in the magazine's '30 Under 30' list. The collective financial might of these 25 artists, totalling $1.9 billion, underscores a blockbuster year where global fame was seamlessly converted into unprecedented commercial success, dominated by the unparalleled drawing power of live music.
