Shakira is a globally renowned Colombian singer, songwriter, and performer with a net worth of $300 million as of 2024. world audience. However, her financial success has recently been overshadowed by legal troubles, with two separate criminal fraud investigations in Spain putting her earnings and tax returns in the spotlight.
Shakira's legal troubles
Shakira's income has come under scrutiny in recent years due to alleged tax fraud. The first case focused on her alleged failure to pay $13.9 million in taxes between 2012 and 2014, culminating in a high-profile court case in November 2023. Chila reached a plea deal with Spanish prosecutors, admitting to six counts of tax fraud and agreeing to pay $15.8 million. The agreement includes three years of probation, an $8 million fine and an additional $472,000 to avoid jail time. Initially, prosecutors sought harsher penalties, including eight years and two months in prison and a $26 million fine.
Shakira, through her representative, emphasized her decision to resolve the issue for the sake of her children, saying: “I have decided to finally resolve this issue in the best interests of my children, who do not want to see their mother. Her personal well-being was sacrificed in this fight. Her legal team, while prepared to prove her innocence, chose to accept the deal due to changes in circumstances.
The plea deal could complicate her defense in a second criminal charge related to her alleged failure to pay 2018 income taxes. Initially, her lawyers argued that Shakira's primary residence was in the Bahamas and that her extensive touring schedule meant she had not lived in Spain long enough to owe taxes there. Despite these defenses, Shakira remains focused on her career and family and is confident that her current financial issues will be resolved favorably.
rise to fame
Shakira Isabelle Mebarak Ripoll's journey to stardom began at a young age. Born in Barranquilla, Colombia, she wrote her first poem at the age of four. Inspired by belly dancers at a Middle Eastern restaurant, Shakira began performing locally, catching the attention of a local theater producer who helped her get an audition for Sony Music. At the age of 13, she signed a three-album contract and released her debut album, Magia, in 1990. ?
Shakira began to break into English-speaking countries in 2001 with her album Laundry Service, which included hits such as “Wherever, Whenever” and “Underneath Your Clothes.” Over the years, she has won numerous awards, including three Grammy Awards and twelve Latin Grammy Awards, making her the most awarded Latin artist of all time.
Shakira's wealth
Shakira's huge wealth mainly comes from her music career. She wrote or co-wrote most of her songs, which allowed her to earn significant royalties. In 2012, she signed a three-album deal worth $30 million with Live Nation and Sony. Shakira has also branched out into television, serving as a coach on “The Voice” and starring in NBC's “Dancing With Myself.”
Her endorsements and product lines also contribute significantly to her net worth. Shakira has a long-standing partnership with PepsiCo and has also promoted Crest White Bars and Oral-B. Her fragrance line adds another lucrative revenue stream.
Comparisons and major deals
Compared to other celebrities, Shakira's financial status is outstanding. She is much richer than her ex-partner, Spanish footballer Gerard Piqué, who has a net worth of $80 million. However, she is still worth less than Jennifer Lopez, who has an estimated net worth of $400 million.
One of Shakira's most high-profile financial moves was the sale of publishing rights to her catalog to Hipgnosis Songs Fund, Ltd. in 2021. , which may be on par with Justin Bieber's $200 million in catalog sales.
Performance earnings and future prospects
Shakira's performances and tours are her main source of income. During her “Sunrise World Tour,” she earned over $2.8 million in just two performances in Puerto Rico. Her 2018 El Dorado World Tour grossed an impressive $76 million at the box office. Despite her legal troubles, Shakira's earning potential remains strong, thanks to her talent, business acumen and global fan base.
in conclusion
Shakira's journey from a young poet in Barranquilla to an international superstar has been marked by her incredible talent, resilience and strategic business decisions. Although recent legal challenges have overshadowed her financial success, her impressive net worth, which will hit $300 million in 2024, underscores her enduring appeal and ability to create wealth. As she continues to develop her career and personal life, Shakira remains a prominent figure in the entertainment industry and is poised to achieve even greater success in the coming years.