Tyra Banks is an American television personality, businesswoman, author, actress and former model. She got her big break in 1996 when she became the first African-American woman to ever grace the covers of GQ and Sports Illustrated magazines. Tyra moved from banking top dollar from her numerous modelling gigs to earning even more as a media personality hosting and creating shows via her Bankable Production company. Her personal net worth is estimated at $100 million.
Tyra Banks Net Worth: How Tyra Banks Began
Tyra Lynne Banks was born on December 4, 1973, in Inglewood, California. She experienced a rapid increase in height while growing up and often appeared taller than her peers both in middle and high school. During her senior year at Immaculate Heart High School, Tyra’s height looked less awkward as her body had developed to compliment her height.
At the age of 15, while still in high school, Tyra began modelling and hunting for contracts. After a year of being rejected and ridiculed by a number of agencies, she landed a deal with world’s largest agency, Elite Model Management.
Tyra Banks Net Worth: Modelling Career
Tyra made her runway debut in 1991 at the age of 18 at the Paris Fashion Week where she was booked in a whopping 25 shows, the highest ever for a beginner. She went on to walk the runaway for brands like Christian Dior, Michael Kors, Oscar de la Renta, Fendi, Marc Jacobs, Chanel, Giorgio Armani, Calvin Klein, Givenchy, Perry Ellis, and a dozen others.
Her breakthrough came in 1996 when she became the first African-American woman to grace the cover of GQ and Sports Illustrated magazines, the later of which she appeared in two issues. A year later, she signed with Victoria Secrets as one of their Angels and accomplished another feat by becoming the first African-American woman to feature on Victoria’s Secret lingerie catalog.
Her Angel days with Victoria Secret was extremely successful. According to the lingerie makers, Tyra sold more briefs than any other Angel. For her effort, she was paid $3 million annually from 1997 to 2005 when she hung her wings, bringing the total to about $24 million. For the year 2005, Banks banked an estimated $6 million from all endeavors.
Tyra also had advertisement campaigns with the likes of Cover Girl, Ralph Lauren, Nike, Dolce & Gabbana, Swatch, Yves Saint Laurent, Pepsi, H&M and more. Banks officially retired from modelling in 2005.
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Tyra Banks Net Worth: TV And Film
In addition to her modelling gigs, Tyra dabbled into Hollywood in the early 1990’s. She made her TV debut in the fourth season of “The Fresh Prince of Bel-Air” where she appeared for 7 episodes. She made her film debut in 1995 drama “Higher Learning” which featured an ensemble cast.
In the early 2000’s, Tyra starred in a number of movies including “Love & Basketball”, “Coyote Ugly”, “Halloween: Resurrection” as well as television movie Life-Size alongside Lindsay Lohan. In later years, Tyra has instead made cameo appearances.
Tyra Banks Net Worth: America’s Next Top Model And Tyra Banks Show
Despite retiring as a model, Banks earned $18 million between 2005 and 2006 thanks to her new venture into reality TV. Through her Bankable Production company, she created and presented the show America’s Next Top Model in 2003. The show which originally aired on UPN became an instant hit, breaking rating records.
It moved to The CW network and continued as the highest-rated show on the network. For the 2011/2012 season, a 30-second advertisement on ANTM cost $61,315 making it the highest for the network.
After airing for 22 seasons, the show was cancelled by CW in 2015 but revived by VH1 in 2016 with Banks remaining as the executive producer. Next Top Model is now a franchise and has at least 40 international editions.
In 2005, Tyra launched her eponymous talk show, The Tyra Banks Show which aired successfully on The CW for 5 seasons and received 2 Daytime Emmy Awards for Outstanding Talk Show Informative. By 2007, Tyra was receiving a salary of $3.5 million from the show.
Thanks hugely to the successes of these two shows, Tyra earned about $95 million pretax in the space of 5 years between 2005 and 2010.
She has also co-created other shows like True Beauty, FABLife, and 2008 movie “The Clique”.
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Tyra Banks Net Worth: Business Ventures And Other Endeavors
Banks has also enjoyed significant success as an author. She recounted her experiences as a model in “Modelland”, a young adult novel published in 2010. In 2011, the book topped the NYT bestseller’s list.
Tyra also earns substantially from her own cosmetic beauty brand named Tyra Beauty which she founded in 2014. She became a personal branding guest lecturer at Stanford University in August 2016.