Mariah Carey’s Net Worth in 2024: How the Singer Became One of the Richest Artists in the World

Mariah Carey is one of the world’s top-selling singers, and she has a net worth to match her fame. Besides making music, she has made smart investments in real estate and secured profitable deals with a number of brands, all of which add to her net worth.

Her biggest hit, “All I Want for Christmas Is You” from 1994, continues to earn her an estimated $3 million every holiday season, even after 30 years. So, what is Mariah Carey’s net worth? Read on to trace her career from her start as an artist to the present day and discover her most successful endeavors.

Early Life

Mariah Carey was born on March 27, 1969, in Huntington, New York. Carey is of African-American, Afro-Venezuelan, and Irish descent. Her paternal grandfather adopted the last name Carey after moving to New York, changing it from Nunez. Carey’s mother was a one-time opera singer, and they separated when she was three years old.

Carey started writing poems and songs when she was young while attending Harborfields High School in Greenlawn, New York. It was during her time at Harborfields when Carey befriended Gavin Christopher and Ben Margulies. Both of whom were her collaborators in composing songs and music. After graduating in 1987 while living in New York City, the three of them continued to collaborate and work on a full-length demo.

The demo eventually landed in the hands of pop singer Brenda K. Starr. Starr continued to pass the demo and brought Carey to several industry events. During a gala, her demo tape was brought to Columbia Records head Tommy Mottola. After listening to two of the songs on the way home, Mottola knew Carey would become a star.

After two weeks, Mottola tracked Carey down and instantly signed her onto a deal. Mottola would also assemble a team for her commercial debut. Mottola thought Carey would be their label’s answer to Arista Records’ Whitney Houston.

Music Career

Mariah Carey released her self-titled debut album on June 12, 1990. Columbia Records reportedly spent $1 million in promoting the record. The album would go on to be certified platinum nine times in the US, selling over 15 million copies worldwide. It also topped the Billboard charts and won Carey a Grammy for Best New Artist and Best Female Pop Vocal Performance.

In 1991, Carey released her next album, “Emotions,” with continued success. However, it was in 1993, when she released “Music Box,” that skyrocketed her career to immense success. The album spent 128 weeks on the Billboard chart and sold 28 million copies worldwide. It’s one of the best-selling albums of all time.

The success didn’t stop there for the singer as her next record, “Merry Christmas” would also sell 15 million copies worldwide. For Carey’s next three albums, those would sell 20 million, 10 million, and eight million copies worldwide. It’s her “Merry Christmas” album that would give her the title “Queen of Christmas” because of her song, “All I Want for Christmas is You.”

That song alone would be one of the best-selling and most profitable singles ever since its release. The global sales for the song amounted to 16 million and up. It’s been featured in multiple holiday movies, with many singers doing covers of the song. “All I Want for Christmas is You” reportedly only took 15 minutes to write, yet has brought in around millions a year in royalties for Carey and producer Walter Afanasieff.

The song has brought over $60 million in royalties overall to this day.

Recent Projects

By 2001, Mariah Carey left Columbia Records and signed a massive record deal with Virgin Records worth $100 million. At the time, it was the biggest contract in music history as it would be $150 million today.

Carey released “Glitter” on August 18, 2001, with the album being the soundtrack to the movie of the same name. The movie was a fictionalized version of Carey, but both the film and the album were critically and commercially panned. The album would eventually sell three million copies. This was a disaster given Carey’s massive star power and her newly signed Virgin Records contract.

Following the box office and record bomb of “Glitter,” Virgin Records sought to pay Carey $28 million to end her contract early. They ended up paying her $50 million for the one album.

Carey would move on to another label though, signing a five-album deal with Island Records worth $24 million. The singer’s biggest hit under the label was “The Emancipation of Mimi” in 2005, selling 10 million copies worldwide.

In 2012, Carey received $18 million during her time as a judge in one season of American Idol.

During Carey’s stint under Def Jam, she released one album. By 2015, Carey signed a new deal with Epic Records. Carey is still with Epic Records to this day. The same year, Carey signed a $30 million contract for a two-year Las Vegas residency at Caesar’s Palace. She earned $27 million overall from her Las Vegas gig.

Other Ventures

In recent decades, Mariah Carey has divided her time between her home in Beverly Hills and her triplex apartment in Tribeca in New York City. Carey also owns a vacation home in the Bahamas.

When Carey was married to Mottola, they lived in Westchester County, New York on a 51-acre property. The property included a 33,000-square-foot mansion. When they divorced, the property was sold to Nelson Peltz – Nicola Peltz’s father. However, the home was destroyed in a fire a year later.

In November 2021, Carey purchased a 4.2-acre property with a 16,000-square-foot Colonial Mansion in Atlanta, Georgia, for over $5.6 million. By 2022, Carey listed the home for sale for $6.5 million but ultimately accepted $4.3 million in May 2023.

Personal Life

In 1993, Mariah Carey married producer and manager Tommy Mottola. Mottola, a prominent figure in the music industry, played a significant role in Carey’s early music career. Their relationship, however, was not meant to last forever. In 1998, after five years of marriage, the couple decided to part ways and formally divorced.

Following her divorce from Mottola, Carey started dating fellow singer Luis Miguel. The two artists, both at the peak of their careers, dated for around three years, from 1998 to 2001. Despite their shared passion for music, their relationship eventually ended.

After a period of being single, Carey found love again with Nick Cannon, an actor, comedian, and television host. In 2008, the couple surprised fans by getting hitched in a private ceremony. A few years later, in April 2011, the couple welcomed fraternal twins, Moroccan and Monroe. However, Carey and Cannon’s marital bliss was short-lived. In 2016, after eight years of marriage, Carey and Cannon decided to go their separate ways.

The same year, Carey was briefly engaged to James Packer, an Australian billionaire. Their whirlwind romance quickly became a hot topic in the media. However, their engagement was short-lived, and they parted ways before they could walk down the aisle.

Mariah Carey’s Net Worth in 2024

As of 2024, Mariah Carey’s net worth is estimated at $350 million. Carey and Cannon’s divorce also had a sizable impact on Carey’s wealth. When the two married in 2008, Carey already had a reported net worth of $150 million, while Cannon had a net worth of $500,000.

It’s no secret that Cannon has a number of kids, currently 12, including his children with Carey. In 2022, Cannon revealed in an interview that he spends more than $3 million every year in child support.

“I definitely spend a lot more than that on my children annually. I don’t plan to ever have to participate in the governmental system of child,” Cannon said.