Forbes has released its annual ranking of the highest-paid musicians of 2025, revealing a year dominated by blockbuster tours, record-breaking album sales and landmark catalogue deals.

Collectively, the world’s top 25 music earners amassed an estimated $1.9 billion over the past 12 months, with median earnings standing at $52 million.

Topping the list is The Weeknd, who closed the year as the highest-paid musician following a combination of a hugely successful global tour, a chart-topping album and a major catalogue deal.

The Canadian superstar is one of six artists to earn nine figures in 2025, alongside Taylor Swift, Beyoncé, Kendrick Lamar, Coldplay and Shakira.

Notably, the list features eight women and 17 men, including 15 alumni of Forbes’ 30 Under 30.

The Weeknd’s earnings were buoyed by the continued success of his After Hours Til Dawn Tour, which crossed the $1 billion mark in gross revenue, making it one of only three tours in history to reach that milestone.

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His sixth studio album, Hurry Up Tomorrow, debuted at number one on the Billboard 200, while a high-profile deal with Lyric Capital, through which he retained creative control of his masters, further boosted his income.

Forbes estimates he personally netted around $200 million from the agreement after fees.

Taylor Swift followed closely in second place, driven by the unprecedented success of her album The Life of a Showgirl, which became the best-selling record of the year, and a lucrative documentary deal with Disney+.

In a notable reversal of industry norms, Swift also repurchased the masters to her first six albums, a move that further strengthened her already formidable catalogue revenues.

Beyoncé ranked third after her Cowboy Carter Tour shattered records to become the highest-grossing country tour in Billboard Boxscore history.

The tour’s success contributed to Beyoncé officially joining the ranks of music billionaires, alongside Swift, Rihanna, Bruce Springsteen and Jay-Z.

Hip-hop also enjoyed a standout year, with Kendrick Lamar emerging as the genre’s top earner.

His headline-grabbing Super Bowl LIX halftime performance reignited interest in his 2024 album, GNX, while his co-headlining Grand National Tour with SZA became the highest-grossing co-billed tour of all time.

British band Coldplay and Colombian pop icon Shakira rounded out the top six, both benefiting from globally successful stadium tours that spanned multiple continents.

Coldplay’s Music of the Spheres World Tour continued its historic run, while Shakira’s Las Mujeres Ya No Lloran World Tour set new benchmarks for Latin music.

Below is the full Forbes Highest-Paid Musicians of 2025 ranking:

1. The Weeknd – $298 million
2. Taylor Swift – $202 million
3. Beyoncé – $148 million
4. Kendrick Lamar – $109 million
5. Coldplay – $105 million
6. Shakira – $105 million
7. Drake – $78 million
8. Chris Brown – $74 million
9. Zach Bryan – $70 million
10. Bad Bunny – $66 million
11. Post Malone – $62 million
12. Ed Sheeran – $60 million
13. Tyler, The Creator – $53 million
14. Metallica – $53 million
15. Lady Gaga – $52 million
16. Billie Eilish – $52 million
17. Imagine Dragons – $48 million
18. Dua Lipa – $44 million
19. Linkin Park – $36 million
20. SZA – $34 million
21. Morgan Wallen – $33 million
22. Bruno Mars – $31 million
23. Sabrina Carpenter – $29 million
24. Andrea Bocelli – $25 million
25. Iron Maiden – $25 million