Net Worth Ranker
What Is Carole King’s Net Worth?
Carole King, a highly accomplished American songwriter and singer-songwriter, has amassed a considerable fortune throughout her illustrious career. Her net worth is estimated to be around $100 million. This substantial wealth is primarily derived from her extensive songwriting catalog, album sales, concert performances, and other ventures related to her music career.
Early Life and Career Beginnings
Born Carol Joan Klein on February 9, 1942, in Manhattan, New York City, Carole King displayed a remarkable aptitude for music from a young age. She started playing the piano at just three years old and was found to have perfect pitch at four. King attended James Madison High School where she formed a band named the Co-Shines. While attending Queens College, she balanced her education with early career moves, eventually leading her to focus entirely on songwriting. In 1960, she co-wrote “Will You Love Me Tomorrow” with her then-husband Gerry Goffin, a song that catapulted them into the limelight after it reached number one on the Billboard Hot 100. This success prompted them to leave their existing jobs and concentrate solely on songwriting.
Songwriting Success and “Tapestry” Breakthrough
During the 1960s, Carole King and Gerry Goffin wrote a string of hit songs that became staples of the era. These included “The Loco-Motion,” “It Might as Well Rain Until September,” “Up on the Roof,” “One Fine Day,” and “Goin’ Back.” The success of these songs significantly contributed to King’s early financial stability and laid the foundation for her future wealth.
In 1971, Carole King achieved a major breakthrough as a solo artist with the release of her album “Tapestry.” The album was an instant success, holding the number one spot on the Billboard 200 for 15 consecutive weeks and remaining on the US charts for nearly six years. “Tapestry” featured hit singles such as “(You Make Me Feel Like) A Natural Woman,” “You’ve Got a Friend,” and “It’s Too Late.” The album’s success led to four Grammy Awards, including Album of the Year. It is estimated that “Tapestry” has sold over 25 million copies worldwide, making it one of the best-selling albums of all time. The royalties from these sales contribute significantly to Carole King’s net worth.
Subsequent Albums and Musical Ventures
Following the immense success of “Tapestry,” Carole King released “Music” later in 1971, which debuted at number eight on the Billboard 200 and peaked at number one on New Year’s Day in 1972. Her subsequent albums, “Rhymes and Reasons” and “Fantasy,” were both certified Gold, further adding to her financial success. In 1974, she released “Wrap Around Joy,” which became her third album to reach number one. These albums, while not reaching the heights of “Tapestry,” still generated substantial income through sales and royalties.
Beyond her solo albums, Carole King has also been involved in various other musical ventures that have contributed to her wealth. She wrote and performed the song “Care-A-Lot” for the 1985 animated film “The Care Bears Movie.” That same year, she scored the soundtrack to the romantic comedy “Murphy’s Romance,” in which she also made a cameo appearance. In 1992, King wrote and performed “Now and Forever” for the sports film “A League of Their Own.” These projects, while not as high-profile as her solo albums, still provided income and further solidified her reputation as a versatile musician.
King has also had success with her touring. In 2007, King toured Japan with Fergie and Mary J. Blige. A few years later, she reunited with James Taylor for the Troubadour Reunion Tour, which resulted in the hit live album “Live at the Troubadour.” These tours, particularly the Troubadour Reunion Tour, generated significant revenue through ticket sales and merchandise, further contributing to her net worth.
Legacy and “Beautiful: The Carole King Musical”
Carole King’s legacy in the music world is vast, and her songs continue to be popular today. In 1995, an all-star lineup of artists paid tribute to her on the album “Tapestry Revisited: A Tribute to Carole King.” This tribute album, featuring artists such as Rod Stewart, Celine Dion, and Aretha Franklin, helped to further solidify King’s reputation and ensure that her music would continue to be heard by new generations.
In 2013, a musical based on Carole King’s life, titled “Beautiful: The Carole King Musical,” debuted in San Francisco and opened on Broadway the following year. The musical was a critical and commercial success, running for over 2,400 performances on Broadway. The musical’s success has generated substantial income for Carole King through royalties and licensing fees. As the subject and a significant benefactor of “Beautiful: The Carole King Musical”, the continued success of the show both domestically and abroad, significantly bolsters her financial standing.
Carole King’s songwriting catalog is one of her most valuable assets. She has written or co-written over 400 songs recorded by over 1,000 artists, including herself. These songs generate royalties whenever they are played on the radio, used in movies or television shows, or streamed online. The exact amount of royalties that Carole King earns from her songwriting catalog is not publicly known, but it is safe to assume that it is a substantial sum.
Real Estate and Personal Life
In 1977, Carole King relocated to Idaho and became actively involved in environmental activism. While specific details of her real estate holdings in Idaho are not publicly available, it is known that she owns a ranch in the state. The value of this ranch is likely to be significant, given the desirability of land in Idaho and King’s financial resources.
Carole King has been married four times. She was married to Gerry Goffin from 1959 to 1968, Charles Larkey from 1970 to 1976, Rick Evers from 1977 to 1978, and Rick Sorenson from 1982 to 1989. While these relationships have had a personal impact on Carole King’s life, they have not had a significant impact on her net worth.
While specific details about Carole King’s personal investments are not publicly known, it is likely that she has diversified her wealth into various assets such as stocks, bonds, and real estate. These investments would provide additional income and help to protect her wealth against inflation.
