It is not easy to make it to the top in the entertainment industry, and it is even harder to stay at the top. Iconic singer/actress and renowned goddess of pop, Cher, has been at the apex of the industry for more than five decades, during which she has amassed a considerable net worth. From music to acting to TV host, Cher has been involved in the various significant drivers of wealth in the American entertainment industry, enjoying remarkable success across all of them.
In this article, we took an in-depth look at how the actress/singer achieved her $350 million net worth.
How Cher Achieved Her Net Worth
Nothing about the background of Cher suggested she would become an American icon with a career that spans six decades and a net worth of over a quarter billion dollars. According to the icon, she did not believe she had any talent, either as a singer or an actress, but wanted to be famous, so she put in the work.
After moving out of her mother’s house, Cher took up acting classes and had a serendipitous meeting with Sonny Bono, who was already an established musician at the time. There have been three primary prongs driving Cher’s net worth – music, acting, and investments. Here is a closer look at each contributor to the icon’s wealth.
If you were to say music is the most significant contributor to Cher’s $350 million net worth, you wouldn’t be wrong. The music icon has sold more than 100 million records since she made her debut in 1963.
She rose to prominence in 1965, as one half of the duo, Sonny and Cher. Together, they sold more than 40 million records worldwide. Halfway into their first period of dominance, she started her solo career. She announced herself as an independent music star with songs like Bang Bang, Half Breed, and Dark Lady.
Music’s contribution to Cher’s astronomical net worth has come with discography with 26 studio albums, ten compilation albums, four soundtrack albums, and three live albums. She has sold more than 100 million copies of her work, a feat that makes her one of the best-selling artists in music history.
Aside from the income from selling millions of records, Cher has also made a lot of money from hundreds of concerts and festivals throughout her five decade-plus career. One notable income from her live performances is a $300,000 a week Las Vegas residency that spanned two years between 1980 and 1982. More recently, in 2008, she signed a $180 million deal for a three-year residency at the Colosseum at Caesars Palace.
Other significant contributors to Cher’s net worth via music include her 2002-2005 concert tours, with grossed $250 million. While not all of it is going to her account, she is believed to have earned a significant percentage of one of the highest-grossing concert tours of all time.
She also earned considerably from her career as part of Sonny & Cher. Together, they released five studio albums, two live albums and 21 singles, selling more than 40 million records worldwide.
Even though Cher made minor appearances as an extra in films and TV shows as a child, she did not make a significant appearance on TV until the 70s, when she began starring in The Sonny & Cher Comedy Hour. She also appeared in the show, Cher, both of which record millions in weekly viewers.
Cher’s acting spread across all three mediums of the profession – stage, TV, and film. She made her stage debut in 1982 and has an onscreen filmography with more than 30 movies and TV shows, including Moonstruck, through which she won an Academy Award for Best Actress.
Her salary as an actress is unknown, but with a string of appearances that were commercially and critically successful, there is no doubt that the medium is one of the most significant contributors to Cher’s net worth.
The entire scope of Cher’s investment portfolio is unknown. However, at the moment, we know Cher has an extensive investment portfolio in real estate. According to Celebrity Net Worth, she has properties all over the world worth over $100 million combined. Her home in Malibu, California alone is believed to be worth somewhere between $50 and $70 million.
She also once sold one of her properties, the Owlwood estate for $90 million. She and her late former husband, Sonny Bono, bought the estate for $750,000 in 1974. Talk about shrewd business acumen.