When Katy Perry Was One of the 'Richest Self-Made Woman in America' With a Net Worth of $340m in 2023

Katy Perry, the renowned pop superstar, has made a significant financial move by selling her music rights to Litmus Music, a company backed by the Carlyle Group, for a staggering reported sum of $225 million. That has led to her net worth shooting up to the whopping amount of $340 million. This, according to Forbes, makes her amongst the wealthiest self-made women in America.

The deal encompassed Perry's ownership stakes in master recordings, royalties, and publishing rights for her five albums spanning from 2008 to 2020, including One Of The Boys, Teenage Dream, PRISM, Witness, and Smile, as reported by Variety. Litmus Music, founded in August 2022 by industry veterans Hank Forsyth and Dan McCarroll, quickly emerged as a major player in the music rights acquisition arena, having secured substantial deals earlier in the year, including the rights to country star Keith Urban's catalog and music producer Benny Bianco's hit-laden portfolio.

While representatives for Litmus Music declined to divulge specific details of the Perry transaction to Forbes, it is undeniably one of the most significant music sales of 2023. Earlier in the year, rapper Dr. Dre reportedly sold a portion of his royalties for more than $200 million, and Justin Bieber also entered a deal to sell his publishing rights and royalties from master recordings for a similar figure.

Perry, at 38 years old, had not made Forbes' 2023 list of the 'Richest Self-Made Women in America' when it was published in June, primarily because her estimated net worth at the time was below the minimum threshold of $225 million required for inclusion. She went on to achieve eight more No. 1 hits, including chart-toppers like California Gurls, E.T., and Firework. In 2015, Forbes featured her on the cover as the third highest-earning entertainer, with earnings surpassing those of Taylor Swift, Rihanna, and Miley Cyrus combined.

Perry's entrepreneurial spirit also shone through as she spoke proudly of her role as a boss and entrepreneur, noting her commitment to seizing opportunities. Forbes recognized Perry as the ninth highest-earning musician of the decade in 2019, with an estimated income of $530 million, primarily derived from her music career and lucrative tours. Additionally, she joined American Idol as a judge in 2018 and will continue her role in 2024, earning a reported $25 million.

Perry's diverse portfolio also includes a 32-show Las Vegas residency at Resorts World, which will conclude in November, as well as her own shoe brand, Katy Perry Collections, and a non-alcoholic beverage brand, De Soi. Although the sale of her music catalog is a significant financial move, it does not signal her retirement from making music entirely, so her fans can breathe a sigh of relief as of now. 

Editor's note: This article was originally published on September 21, 2023. It has since been updated.