Is Shakira’s tax fraud sending her broke? Here’s her net worth
Shakira, the Colombian-born sensation, isn’t just a household name; she’s a global icon with a staggering net worth of $300 million. This multifaceted star isn’t just about hit singles and electric dance moves. She’s a singer, songwriter, producer, belly dancer, and philanthropist, with a track record that places her among the elite in the music industry.
A Journey of Musical Milestones
Shakira’s influence in the music world is undeniable. With over 125 million albums and singles sold worldwide, she stands as one of the most successful female artists ever. Notably, she’s the second-most successful Latina singer, trailing only the legendary Gloria Estefan and is the top-selling Colombian artist of all time.
Her accolades are as diverse as her musical style. From three Grammy Awards, thirteen Latin Grammy Awards to four MTV Video Music Awards and a star on the Hollywood Walk of Fame, Shakira has been a dominant force in the music industry. Billboard recognized her as the Top Female Latin Artist of the Decade in 2009. Impressively, she also holds the title of the most-streamed Latin artist on Spotify.
Shakira’s fifth album, “Laundry Service,” marked her foray into the English music scene. With hits like “Whenever, Wherever” and “Underneath Your Clothes,” the album was a global success, selling 20 million copies. Her subsequent albums, both in Spanish and English, continued this trend of success, earning various certifications from the Recording Industry Association of America.
The Power of a Live Nation Deal
In 2008, Shakira inked a monumental 10-year deal with Live Nation, valued at $300 million. This deal signified her undeniable star power and influence in the music world.
January 2021 saw Shakira make a major move in the business side of music. She sold her publishing catalog rights, which included about 145 songs, to Hipgnosis Songs Fund. While the exact figures weren’t disclosed, it’s speculated to be in the ballpark of $100 million, a testament to the lasting value of her musical repertoire.
Shakira’s personal life took an unexpected turn due to her relationship choices, according to her lawyer. He claimed that her 11-year romance with Gerard Pique, the retired Barcelona footballer, led to her facing six tax fraud charges instead of three, a consequence of Catalonia’s wealth tax, which isn’t applicable in Madrid.
Shakira faced a significant legal challenge in Spain, charged with tax fraud. Her lawyer’s comments suggested that her choice of partner had a direct impact on the extent of these charges. Ultimately, she agreed to a plea deal, which included a three-year jail sentence, substituted by hefty fines totaling over £7 million.
Choosing Family Over Trial
Shakira’s decision to settle the tax fraud case was driven by her desire to protect her family, especially her two sons, Milan and Sasha. She emphasized the importance of focusing on her children and avoiding the stress of a lengthy court trial. Her statement underlined her commitment to family and her willingness to sacrifice her personal battles for their well-being.
In her statement, Shakira took a swipe at the Spanish tax system, calling for its revision. She highlighted the difficulties faced by those who can’t afford strong legal defense or settlements, underscoring the need for systemic change.
Shakira has faced her share of trials and tribulations, not just in her career but in her personal life too. Her legal battles in Spain have been taxing, both emotionally and financially. S
he admitted to tax fraud to avoid an extended trial, a decision that was driven by the desire to protect her career and family. Yet, she remained defiant, ready to fight for her innocence, but chose to settle for the sake of her children and peace of mind.
A New Chapter Begins
Post-settlement, Shakira is ready to move on. She recently made headlines with her win at the Latin Grammy Awards, including a Best Song honor for what many believe to be a diss track aimed at Pique. This move signifies not just her resilience but also her ability to channel personal experiences into her art.
As Shakira embarks on her next chapter, the world watches eagerly. Her story is one of tremendous success, personal challenges, and unyielding resilience. As she continues to navigate her career and personal life, one can’t help but wonder: What’s next for this global superstar?
