Elton John is a highly successful and renowned British singer, composer, pianist, and songwriter. Elton John has a net worth of $500 million as of this writing. Elton John is one of the best-selling artists of all time. He has sold over 300 million records globally to date.
That is enough to place him sixth in all-time musical artist sales after Madonna, Michael Jackson, Elvis Presley, and The Beatles.
He is routinely included among the world’s highest-paid celebrities. Elton may generate upwards of $80 million in a touring year from his multiple enterprises.
Elton John Childhood
Elton John was born Reginald Dwight in Middlesex, England, on March 25, 1947. At three, he began playing the piano on his grandmother’s piano.
He began formal studies at the age of seven and was awarded a scholarship at the Royal Academy of Music in London. His father, a military guy, unsuccessfully attempted to lead him toward a more typical banking profession.
When he was 14, his parents divorced. His mother then married Fred Farebrother, a local painter who proved an excellent stepfather.
Elton, his mother, and his stepfather moved into an apartment where he would remain for years, despite having four Top 40 albums in the United States at the time. His stepfather assisted a 15-year-old Reginald in securing a weekend piano engagement at a nearby piano.
He and his pals established the band Bluesology in 1966. Around this period, he adopted the stage name, Elton John. The moniker is a nod to blues greats Elton Dean and Long John Baldry.
Elton met lyricist Bernie Taupin about this time. They would go on to collaborate on over 30 albums, selling over 300 million copies worldwide.
Elton John Rise to Success
Elton John’s debut albums, Empty Sky and Elton John were released in 1969 and 1970. Between 1972 and 1975, he had seven consecutive chart-topping albums.
In 1973, he founded his own record company, The Rocket Record Company, which produced Neil Sedaka’s recordings. Notably, he chose not to distribute his music through his label instead of signing an $8 million agreement with MCA. That equates to almost $40 million when adjusted for inflation.
Throughout the 1980s, Elton delivered successful albums, and in 1992, he and Taupin inked a $39 million, twelve-year deal with Warner Bros. Records.
It was, at the time, the biggest cash advance in music history. He created the music for the Disney animated film The Lion King in 1994, which won a Grammy Award for Best Song and was certified “diamond” in 1999 for sales of fifteen million copies. John re-released his 1973 hit “Candle in the Wind” in 1997 to the loss of Princess Diana of Wales.
This 1997 reimagining became the best-selling song in recorded history, earning John his lone Grammy nomination for Best Male Pop Recording. John is still touring, composing for the stage, and releasing chart-topping albums.
Elton John Private Life
From 1984 until 1988, he was married to German recording engineer Renata Blauel. He ultimately came out of the closet and dated director David Furnish in 1993; the two formed a civil partnership in 2005.
Elton is consistently one of the world’s highest-paid artists. Elton John made $45 million between June 2017 and June 2018. Between 2011 and 2018, Elton performed at The Million Dollar Piano, a Las Vegas residency.
He arranged an arrangement in which he would earn 88 percent of each show’s door income. It equated to almost $500,000 in profits for each performance for Elton.
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Elton John’s Net Worth Achievements
In 2000, Elton’s net worth was “just” $100 million. He was well-known throughout this period of his life as a wasteful spender. He eventually admitted spending $2 million every month in the late 1990s, or nearly $40 million over the decade.
For instance, in 1996, he spent more than $12 million on residences and half a million dollars on flowers in six months. He amassed a museum-quality collection of automobiles.
In June 2001, he sold twenty automobiles that he had never driven. He sold a $300,000 1993 Jaguar and Ferraris, Bentleys, and Rolls Royces.
By 2011, it had grown to more than $240 million. In 2013, we increased his net worth to $300 million. By 2020, the value of his holdings had risen to a full half-billion dollars.
Residential Real Estate
For many years, Elton’s principal residence was a sprawling estate named Woodside in Old Windsor, Berkshire, England. Woodside is a 37-acre mansion dating back to the 1750s.
Elton purchased the home in 1974 for 400 thousand pounds, which equates to around $5 million in today’s dollars after inflation and currency fluctuations.
As previously stated, he was still mostly living with his mother and stepfather in their little apartment. In 1988, he auctioned off the whole furnishings of the mansion for $8 million. He then proceeded to restore and furnish the entire property.
Elton has residences in Atlanta, Los Angeles, Nice, London, and Venice.
In October 2015, he paid $33 million for his Beverly Hills mansion. The property is over 20 acres in size and was specially built in 2001 for the former owner, Guess co-founder Armand Marciano. It was on the market for $63 million at one point (pre-Elton).
The main residence is 25,000 square feet in size and has an 11-car underground garage, screening room, wine cellar, and gym, among other features.
He has a property in the neighborhood, which he purchased for $7.2 million in 2012. Elton spent $8.5 million for a half-acre property next door in September 2021. His Atlanta residence is a double penthouse of 12,000 square feet.