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Katy Perry Is Now Worth $340 Million—And One Of The Richest Self-Made Women In America
Posted
September 21, 2023
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September 21, 2023
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6:12Now PlayingPop superstar Katy Perry sold her music rights to Carlyle-backed Litmus Music on Monday for a reported $225 million. With the sale, her net worth increases to an estimated $340 million, making her one of the richest self-made women in America.
Perry sold her stakes in master recordings royalties and publishing rights for the five albums she released from 2008 to 2020, One Of The Boys, Teenage Dream, PRISM, Witness and Smile, according to Billboard and Variety. Litmus, which was founded in August 2022 by music industry veterans Hank Forsyth and Dan McCarroll, with $500 million from the Carlyle Group, has wasted no time buying up music rights. In August, Litmus purchased the rights to country star Keith Urban’s catalog and in June, music producer Benny Bianco sold the rights to his hits—which include songs by Rihanna, Justin Bieber and Camila Cabello—to Litmus. Representatives for Litmus Music declined to comment to Forbes on the details of the Perry sale.
The transaction is one of the biggest music sales of 2023. In January, rapper Dr. Dre reportedly sold a portion of his royalties from solo albums, his work with NWA and other music income streams for more than $200 million. Justin Bieber sold his publishing rights and royalties from his master recordings that same month for a similar figure.
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