Popular as one of the richest singers in the world, Mariah Carey’s career seems to consistently rise up since the 1990s. She has won five Grammys, 10 AMAs and also 15 Billboard Music Awards as of this writing. Moreover, Mariah also has more #1 songs than any other female producer/ writer in US chart history.
As a singer, record producer and songwriter, of course the public wants to know her net worth since starting her career in entertainment. Let’s see Mariah’s net worth below!
What Is Mariah Carey’s Net Worth?
As of this writing, Mariah Carey’s net worth is roughly $320 million. She is one of the 15 best-selling musical artists in history which has sold over 200 million albums worldwide to date. Mariah is also known as the second best-selling female artist of all time behind Madonna.
How Does Mariah Carey Make Money?
Mariah Carey mostly makes money through her career as a singer. Her self-titled debut album which was released on June 12, 1990 which reportedly spent around $1 million for promoting the record. Initially, the album sales were slow, but eventually her album would be certified 9x platinum in the US alone, selling more than 15 million copies worldwide.
Her first album reached #1 on the Billboard charts and also earned her a Grammy for the Best New Artist and Best Female Pop Vocal Performance. Her second album, 1991’s ‘Emotions’ was also a superb success. However, her third album, 1993’s ‘Music Box’ took her career to stratospheric levels.
Mariah’s third album spent 128 weeks on the Billboard chart and sold an astonishing 28 million copies worldwide. Well, this is one of the best-selling albums of all time. More, her next album ‘Merry Christmas, was also a monster which sold more than 15 million copies worldwide.
Her ‘Christmas’ album eventually became one of the best selling and most-profitable singles of all time with global sales of 16 million and keep increasing. This album reportedly earned $600,000 per year in royalties for Mariah and Walter Afanasieff, as producer. This album has earned more than $60 million in gross royalties to date.
By April 2001, Mariah signed a five-album contract with Virgin Music which was then a record $ 100 million. The number is the same as $150 million once adjusting for inflation. However, that was the biggest contract in the history of music at the time.
Virgin released Mariah’s first album ‘Glitter’ on August 18, 2001. This was actually a soundtrack to a movie of the same name which was a semi-autobiographical about a fictionalized version of Mariah.
Well, both the film and album that was unfortunately released on September 21, 2001, 20 days after the 9/11 terror attacks were panned by audiences and critics. However, this film is famously one of the biggest box-office bombs of all time.
The album sold 3 million copies over time which would be respectable for any other artist. Unfortunately, that was a disaster for Virgin and Mariah for a newly-minted $100 million contract.
Virgin was so desperate to break free from Mariah that they paid her $28 million to terminate her contract early. When all was said and done, Mariah was paid nearly $50 million to produce one album for Virgin.
Mariah eventually signed a $24 million, five-album deal with Island records once being dumped by Virgin. Her album with Island sold well with her biggest hit being 2005’s where ‘ The Emancipation of Mimi’ sold 10 million copies worldwide.
She then released one album under Def Jam. In 2015, she was signed by Epic Records where Mariah remains today. She totally earned $18 million to appear on one season of American Idol in 2012. By 2015, Mariah signed a $30 million contract to undertake a two-years Las Vegas residency at Caesars Palace. It helped her to be one of the highest-earning women in music for the year within $27 million in total earnings.
How Does Mariah Carey Spend Money?
Mariah mostly spends her money on luxurious fashions (such as shoes, bags and clothing), real estate, royal cars and private planes. Mariah rents a Beverly Hills mansion for $35,000 a month when she was in Los Angeles. She ever paid $100,000 a month for a place in Coldwater Canyon before that.
Her $45,000 a year goes to spa treatments for her dogs. Her dinner at a trendy LA restaurant could run $1,500. Mariah stars in luxury hotels like the Plaza Athenee in Paris where a suite goes for $15,000 a night. a luxury rental in Airbnb may cost $1,400 a night while a yacht rental runs $340,000 a week.
She also chose for a private plane to go anywhere which can cost as much as $8,000 to $13,000 per one way trip based on the flight time. Mariah is also a massive shoe fan. In her shoe closet, there are a lot of shoes that she collected from time to time.
Mariah Carey’s Career
Mariah’s career began when she studied at Harborfields High School in Greenlawn, New York where she started writing poems and early songs. While studying at high school, she befriended Gavin Christopher and Ben Margulies who are partners in composing full songs with music and lyrics.
Marian, Ben and Gavin continued working together to create a full-length demo even after graduating. Well, their demo finally made its way to pop singer Brenda K. Starr. Then, Brenda continued to carry the demo around town while bringing Mariah to various industry galas.
Her demo tape was handed off to Tommy Mottola, the head of Columbia Records at one such gala. Tommy eventually listened to the tape in the car on the way home. Then, once hearing the first two songs, Tommy was sure that Mariah would be a star.
Tommy instantly signed Mariah to a record deal and created a team to plot her commercial debut. Well, in Tommy’s eyes, Mariah Carey would be Colombia’s answer to Arista Records’ Whitney Houston.
Since then, her music has become the most popular of all time, and each album has been a huge success.