Net Worth Ranker
What Is Tyra Banks’ Net Worth?
Tyra Banks, a prominent American media personality, actress, singer, model, and businesswoman, has accumulated a substantial net worth of $90 million. This financial success stems from her diverse career, which includes achievements as a fashion model and her ventures in television production and hosting. Banks transitioned from a successful modeling career to a lucrative television career.
Tyra Banks’ Modeling Career
Tyra Banks started her modeling career early, while still attending high school. She faced initial setbacks, being rejected by four modeling agencies before landing a contract with L.A. Models. At 16, she signed with Elite Model Management in Paris and moved to Milan to pursue her career. In 1991, during Paris Fashion Week, Banks made her runway debut, securing 25 shows in her first season. In 1993, she signed a contract with CoverGirl, solidifying her status in the American cosmetics industry. Banks’ success as a model included gracing the covers of various magazines, such as “Elle,” “Harper’s Bazaar,” and “Cosmopolitan.” She also participated in fashion shows for top designers, including Chanel, Oscar de la Renta, and Yves Saint Laurent. Furthermore, she appeared in advertising campaigns for renowned brands like Dolce & Gabbana, Tommy Hilfiger, and Versace. Banks made history as the first African-American model to appear on the covers of “Sports Illustrated’s” swimsuit issue (1997) and “GQ” magazine (1996), marking significant milestones in her career.
Television and Film Career
Banks transitioned into television and film, with her first television appearance on “The Fresh Prince of Bel-Air,” where she played Jackie Ames in seven episodes. Her film debut was in John Singleton’s drama “Higher Learning” (1994). In 2000, she co-starred in Disney’s “Life-Size” with Lindsay Lohan, playing a doll named Eve. She also appeared in “Love Stinks” (1999), “Love & Basketball” (2000), and “Coyote Ugly” (2000). One of her most significant contributions to television was creating, producing, and hosting “America’s Next Top Model” (“ANTM”), which premiered in 2003. The show provided a behind-the-scenes look at the modeling industry and became a cultural phenomenon. Banks hosted 23 out of the 24 seasons of “ANTM.” Additionally, Banks hosted her own talk show, “The Tyra Banks Show,” from 2005 to 2010, which won two Daytime Emmy Awards for Outstanding Talk Show/Informative in 2008 and 2009.
Business Ventures and Production Company
Tyra Banks expanded her business ventures by obtaining a non-degree certificate from Harvard Business School in 2004 to start her cosmetics company, Tyra Beauty. Her e-commerce cosmetics website, tyra.com, launched in 2015. Banks also established Ty Ty Baby Productions, now known as Bankable Productions, which produced “America’s Next Top Model” and “The Tyra Banks Show.”
Earnings and Recognition
At the peak of her career, Tyra Banks earned approximately $18 million annually from hosting and other business ventures. Banks has been consistently recognized as one of the world’s most influential people by “Time” magazine. She hosted “America’s Got Talent” for two seasons, from 2017 to 2018. Additionally, she has appeared as a consultant or judge on various international editions of “Next Top Model,” including “Mexico’s Next Top Model,” “Vietnam’s Next Top Model,” “Asia’s Next Top Model,” “Korea’s Next Top Model,” and “Australia’s Next Top Model.” In recent years, Banks has appeared in episodes of “Celebrity Watch Party,” “Dancing with the Stars,” “Punk’d,” “Insecure,” and “I Love That for You.” After signing a deal with ABC Signature to host “Dancing with the Stars,” she left the show after three seasons.
Philanthropy and Education
Tyra Banks’ charitable organization, the Tyra Banks TZONE, focuses on leadership and life skills development. She also established the Tyra Banks Scholarship to enable African-American girls to attend Immaculate Heart High School, her alma mater. In August 2016, Banks accepted a position as a guest lecturer at Stanford University on personal branding.
Personal Life
During the 2010s, Banks was in a relationship with Norwegian photographer Erik Asla, and in January 2016, they welcomed a son, York Banks Asla, via surrogacy. The couple separated in the fall of 2017. Banks has stated that she avoids alcohol and has never used recreational drugs.
Real Estate Investments
Tyra Banks has made several notable real estate investments. In 2004, she purchased a 5,740-square-foot residence in Beverly Hills for just over $3 million. She listed this property for sale in 2015 for $7.7 million and sold it in 2016 for $6.33 million. Banks owns a 7,000-square-foot duplex in Manhattan, which includes a salon, gym, and mirrored dressing room. She acquired the Battery Park City duplex, comprising four apartments, in 2009 for $10.13 million. She listed the apartment for rent in March 2015, asking $50,000 per month. In the spring of 2017, Banks put the home on the market for $17.5 million; however, it has not been sold. Tyra has also been involved in flipping houses in Los Angeles. In May 2018, she listed two homes in the Pacific Palisades neighborhood for sale. The first was a 6,135-square-foot residence listed for $9.25 million, and the second was a 3,700-square-foot home purchased for $4.25 million. She bought the larger home two years prior for $7.35 million and the smaller home for $3.25 million in 2014. She sold both properties within a few months for $8.9 million and $4 million, respectively. Additionally, she sold an L.A. townhome for $1.47 million that same year. In February 2018, Tyra paid $6.995 million for another Pacific Palisades home, which she sold in December 2021 for $7.895 million. In June 2019, she acquired a single-story home for just under $3 million, marking her fifth purchase in the Pacific Palisades area in two years.
