Elton John, a household name in music, has a remarkable net worth of $650 million. As one of the most commercially successful artists in history, Elton’s career spans over five decades, during which he has sold more than 300 million albums globally. This achievement places him as the fifth best-selling musical artist ever, behind icons like Madonna, Michael Jackson, Elvis Presley, and The Beatles. His consistent success has made him one of the highest-paid celebrities year after year.
During a touring season, Elton John can easily rake in over $80 million from various projects. His “Farewell Yellow Brick Road” tour has been a significant milestone in his career. Between 2018 and 2023, the tour grossed an incredible $940 million across more than 330 performances, making it the second-highest-grossing concert tour in history. While his record was later surpassed by Taylor Swift’s “The Eras Tour,” it’s worth noting that Elton’s average concert gross per show is still impressive at $2.85 million.
Elton John is a decorated artist, having won nearly every major music award. His song “Candle in the Wind” holds the record for being the best-selling single in both the UK and the US. Over the years, he’s charted 50 songs in the Top 40, with nine reaching the No. 1 spot. He also boasts seven consecutive albums that hit No. 1. Most recently, on January 15, 2024, Elton John achieved “EGOT” status by winning an Emmy for Outstanding Variety Special. Before this, he had already won five Grammys, an Oscar, two Golden Globes, and a Tony Award. John’s success on the US Billboard charts is unparalleled, as he remains the most successful solo artist in the history of the charts.
Key Facts about Elton John’s Career and Wealth
- He has sold over 300 million albums globally.
- In a touring year, he earns around $80 million.
- He earns $500,000 per night from his Las Vegas residency.
- In the 1990s, he spent an average of $2 million per month.
- His art collection is valued at $100-200 million.
- He owns real estate worth approximately $50 million.
Early Life and Beginnings in Music
Born Reginald Dwight on March 25, 1947, in Middlesex, England, Elton John was introduced to music at a very young age. He began playing the piano at age three on his grandmother’s piano and started formal lessons at seven. By eleven, he won a scholarship to London’s prestigious Royal Academy of Music. Despite his passion for music, his father, a military man, tried to steer him toward a more traditional career, such as banking. His parents divorced when he was just 14, but his mother remarried a local painter, Fred Farebrother, who became a supportive figure in his life.
At 15, Elton found his first gig playing piano at a local pub. In 1966, he joined the band Bluesology and adopted the name “Elton John” as a tribute to blues artists Elton Dean and Long John Baldry. Around this time, Elton also crossed paths with songwriter Bernie Taupin. Their partnership became one of the most successful songwriting duos in history, leading to more than 30 albums together, many of which achieved worldwide success.
Rise to Fame and Success
Elton John’s rise to stardom began in earnest in 1969 with the release of his debut album, Empty Sky. He followed it up with Elton John in 1970, and from there, his career skyrocketed. Between 1972 and 1975, seven of his albums topped the charts. In 1973, he formed his own record label, The Rocket Record Company, which was successful in launching the careers of artists like Neil Sedaka. Despite this, Elton chose not to release his own music on his label and instead signed a lucrative $8 million deal with MCA, a sum equivalent to $40 million today when adjusted for inflation.
Throughout the 1980s, Elton John continued releasing successful albums. In 1992, he and Bernie Taupin signed a groundbreaking $39 million, twelve-year contract with Warner Bros. Records, which at the time was the largest cash advance in music history. His contribution to the Disney animated movie The Lion King in 1994, which earned him a Grammy for Best Song, further solidified his position as a global music icon. In 1997, following the tragic death of Princess Diana, he re-released “Candle in the Wind,” which became the best-selling single in recording history. This version earned him his only Grammy for Best Male Pop Recording.
Elton John continues to tour, compose, and release albums that resonate with audiences worldwide.
Elton John Among the Highest-Paid Celebrities
Elton John is a perennial fixture among the highest-paid entertainers in the world. Between June 2017 and June 2018, he earned $45 million. From 2011 to 2018, Elton held a Las Vegas residency known as The Million Dollar Piano, where he negotiated a deal to receive 88% of the revenue from every show. This deal resulted in earnings of around $500,000 per show. His final tour, Farewell Yellow Brick Road, became the highest-grossing tour of all time, grossing $853 million across 293 performances.
Milestones in Elton John’s Net Worth
Elton John’s wealth has seen significant growth over the years. In the year 2000, his net worth was around $100 million. During the late 1990s, he was notorious for his extravagant spending, which included $2 million per month on living expenses. He later admitted to spending roughly $40 million during that period. In one instance in 1996, he spent over $12 million on homes and $500,000 on flowers. He also amassed a museum-level collection of cars, later selling 20 of them for a significant profit.
By 2009, Elton’s net worth had grown to $265 million. By 2011, it stood at $240 million, and by 2013, it had reached $300 million. As of 2020, his fortune was estimated at $500 million.
A Passion for Art
Elton John is also known for his impressive art collection. His artwork could be worth $200 million in the right market. His collection features works by renowned artists such as Mapplethorpe, Warhol, Basquiat, and Damien Hirst. In 2004, Elton sold 70 photographs from his collection for $900,000, and his photography collection is considered one of the largest and most valuable in the world.
Real Estate Holdings
Elton John’s real estate portfolio is equally impressive. His primary residence is a 37-acre estate called Woodside, located in Old Windsor, Berkshire, England. He purchased the property in 1974 for £400,000, equivalent to about $5 million today. Over the years, Elton refurbished the property and even sold off its contents for $8 million in 1988.
In addition to his English estate, Elton owns homes in Los Angeles, Venice, and Nice. He purchased a Beverly Hills estate in 2015 for $33 million. This 20-acre property features a 25,000-square-foot mansion, complete with an 11-car subterranean garage, a screening room, and much more. He also owns properties in Atlanta and Toronto.
