Aretha Franklin Net Worth (Updated 2024)

What was Aretha Franklin’s Net Worth?

Aretha Franklin, the famous American singer known as the “Queen of Soul,” had a net worth of $10 million when she passed away in 2018. However, this figure doesn’t include the value of her intellectual property, likeness, music catalog, and royalty stream. Court documents from battles over her estate revealed that her royalty income in the years after her death ranged from $3-4 million annually. Considering the value of her catalog and royalty income, her actual net worth at the time of her death was likely closer to $50 – $80 million.

Her assets were primarily composed of cash and real estate, totaling $4.1 million, with an additional estimated $1 million value attributed to her intellectual property.

Aretha began her singing career at New Bethel Baptist Church in Detroit, Michigan, where her father was a minister. She signed with Columbia Records at 18, but her breakthrough came when she joined Atlantic Records in 1966. Her notable albums include “I Never Loved a Man the Way I Love You,” “Lady Soul,” “Spirit in the Dark,” “Amazing Grace,” and “Sparkle.”

Throughout her career, Franklin achieved remarkable success, recording 112 charted singles on the US Billboard charts, including iconic hits like “Respect,” “(You Make Me Feel Like) A Natural Woman,” “Think,” and “Chain of Fools.”

She received numerous honors, including 18 Grammy Awards, induction into the Rock and Roll Hall of Fame, and the National Medal of Arts and Presidential Medal of Freedom. In 2019, she was posthumously awarded a special Pulitzer Prize citation for her lasting impact on American music and culture.

Here’s the breakdown of her net worth:

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Estate Battle

Aretha Franklin’s estate faced a contentious battle following her death, as she reportedly did not leave behind a formal, typewritten will. A document from 2010 purportedly named her son Ted as the executor, but a handwritten document from 2014 emerged later, allegedly designating her son Kecalf for this role. This second document was discovered hidden in a couch, adding complexity to the legal proceedings.

The estate battle escalated, leading to a trial in July 2023. Legal documents revealed that at the time of her passing, Franklin’s total assets were valued at $4.1 million. However, this figure did not fully encompass the worth of her intellectual property and royalty stream. Additionally, it was disclosed that Franklin owed the IRS between $5 and $8 million, including back taxes and penalties. Despite this, her estate disputed these claims, asserting that most of her debts had been settled before her death.

Franklin possessed a substantial portfolio of assets, including property, stocks, and uncashed checks amounting to over $1 million. Among these checks were uncashed payments totaling $988,656.17, originating from entities like Sound Exchange, Springtime Publishing, and various music licensing organizations. In May 2019, her lawyers moved to liquidate these assets as part of the ongoing estate proceedings.

Early Life

Aretha Louise Franklin was born on March 25, 1942, in Memphis, Tennessee, to Barbara and Clarence LaVaughn “C. L.” Franklin. Her father was a Baptist minister, originally from Shelby, Mississippi, while her mother was a talented piano player and singer. The family moved to Buffalo, New York, when Aretha was two, but settled in Detroit, Michigan, when she was five, where her father became the pastor of the New Bethel Baptist Church.

The Franklins had a tumultuous marriage, and they separated in 1948. Aretha’s mother returned to Buffalo with one of Aretha’s half-brothers, Vaughn. Aretha and her siblings stayed with their father in Detroit. Sadly, Aretha’s mother passed away from a heart attack in 1952, when Aretha was just ten years old. After her mother’s death, Aretha’s grandmother, Rachel, and gospel singer Mahalia Jackson helped care for the children.

Despite the challenges, Aretha learned to play the piano by ear during this time. She attended public school in Detroit but dropped out during her second year at Northern High School.

Aretha’s father gained fame for his emotionally charged sermons, earning him the nickname the “man with the million-dollar voice.” He traveled across the country delivering sermons and mingled with celebrities like Clara Ward, James Cleveland, Martin Luther King Jr., and Sam Cooke. Clara Ward, in particular, had a romantic relationship with Aretha’s father, though Aretha saw them more as friends. Ward served as a role model for Aretha during her formative years.

Musical Career

Beginnings

Between 1952 and 1960, Aretha Franklin’s journey in music began to take shape. After her mother’s passing, she started singing solos at New Bethel Baptist Church, showcasing her talent with hymns like “Jesus, Be a Fence Around Me.” At the age of 12, her father took on the role of her manager, bringing her along on his gospel tours, where she performed in various churches.

Her first recording deal came with J.V.B. Records, facilitated by her father. They recorded nine tracks at New Bethel Baptist Church, with Aretha showcasing her vocals and piano skills. In 1956, her debut single “Never Grow Old” was released, followed by “Precious Lord (Part One)” and others.

At just 14 years old, Franklin’s album “Spirituals” was released by J.V.B. Records, featuring tracks recorded earlier. Later, Checker Records released “Songs of Faith,” including additional recordings. During this time, she occasionally toured with the Soul Stirrers and spent summers on the gospel circuit in Chicago, where she stayed with Mavis Staples’ family.

Aretha’s talent caught the attention of Dinah Washington, who recognized her as the “next one” in the music scene. She also met singer Sam Cooke during a trip to California arranged by her father. At 16, she toured with Dr. Martin Luther King Jr. and later sang at his funeral in 1968.

Influences on her music journey included Marvin Gaye, Ray Charles, and Sam Cooke, with James Cleveland playing a pivotal role in shaping her early career as a gospel singer.

Columbia years

Between 1960 and 1966, Aretha Franklin embarked on her journey with Columbia Records, marking a pivotal phase in her career.

At 18, Franklin expressed her desire to follow in the footsteps of Sam Cooke and transition to recording pop music. With her father’s support, she moved to New York City, where a two-song demo caught the attention of Columbia Records, leading to her signing in 1960 as a “five-percent artist.”

Under the guidance of choreographer Cholly Atkins, Franklin prepared for her venture into pop music. Despite offers from Sam Cooke’s label, RCA Victor, and Berry Gordy’s Tamla label, she chose Columbia. Her debut single with Columbia, “Today I Sing the Blues,” released in September 1960, climbed to the top 10 of the Hot Rhythm & Blues Sellers chart.

In January 1961, Franklin released her first album, “Aretha: With The Ray Bryant Combo,” featuring her breakthrough single “Won’t Be Long.” Her Columbia recordings showcased her versatility across various genres, from standards to rhythm and blues. By the end of 1961, she was recognized as a “new-star female vocalist” by DownBeat magazine.

Throughout the 1960s, Franklin’s popularity grew, earning her the title “the Queen of Soul” during a performance in Chicago. She experimented with pop music, achieving success with hits like “Runnin’ Out of Fools” and “One Step Ahead.” Despite facing challenges with commercial success at Columbia, Franklin’s live performances brought her significant income, with earnings reaching $100,000 annually by the mid-1960s.

However, Columbia Records struggled to fully capitalize on Franklin’s gospel roots, leading to a lack of commercial breakthroughs.

Atlantic years

Between 1966 and 1979, Aretha Franklin’s career flourished during her tenure with Atlantic Records, marked by both triumphs and challenges.

In November 1966, Franklin’s contract with Columbia Records expired, leaving her owing money due to lower-than-expected record sales. Producer Jerry Wexler, recognizing her gospel roots, convinced her to join Atlantic Records, where he aimed to leverage her unique style into soulful hits. Their collaboration resulted in a string of successes from 1967 to early 1972.

Franklin’s breakthrough came with hits like “I Never Loved a Man (The Way I Love You)” and her iconic rendition of “Respect,” which became a civil rights and feminist anthem. Her debut Atlantic album, “I Never Loved a Man the Way I Love You,” achieved gold status, catapulting Franklin to fame.

In 1968, she released acclaimed albums like “Lady Soul” and “Aretha Now,” earning her Grammys and widespread acclaim. Franklin’s global fame expanded as she toured internationally and graced the cover of Time magazine.

During the early 1970s, Franklin continued her success with chart-topping singles like “Don’t Play That Song (You Lied),” “Spanish Harlem,” and “Rock Steady,” and released the bestselling gospel album “Amazing Grace.”

However, Franklin faced setbacks in the mid-1970s, with albums like “Hey Now Hey” failing to meet expectations. Despite R&B hits like “Until You Come Back to Me,” her albums struggled commercially. After Jerry Wexler’s departure from Atlantic, Franklin’s later albums failed to resonate with audiences.

In 1979, Franklin parted ways with Atlantic Records, ending a significant chapter in her career. Despite challenges, her legacy as the Queen of Soul remained intact, leaving an indelible mark on the music industry.

Arista years

From 1980 to 2007, Aretha Franklin’s career flourished during her time with Arista Records under the guidance of Clive Davis, though it also saw some ups and downs.

In 1980, Franklin signed with Arista Records, seeking a career revitalization. Her first Arista album, “Aretha,” featured hits like “United Together” and “I Can’t Turn You Loose,” earning her a gold record after seven years. Subsequent albums like “Love All the Hurt Away” and “Jump to It” continued her success, with the latter producing her first top-40 single in six years.

In 1985, Franklin’s album “Who’s Zoomin’ Who?” achieved platinum status, showcasing hits like “Freeway of Love” and “Another Night.” The following year, her collaboration with George Michael on “I Knew You Were Waiting (For Me)” topped charts internationally.

Throughout the late 1980s and early 1990s, Franklin’s albums and singles maintained moderate success, with notable releases like “A Deeper Love” and “Willing to Forgive.” She also ventured into acting, appearing in the Apollo Theater revival of “The Wiz” in 1995.

In 1998, Franklin’s Grammy Awards performance garnered global acclaim after she stepped in to perform “Nessun dorma” in place of an ailing Luciano Pavarotti. This performance showcased her versatility and received widespread praise.

Her final Arista album, “So Damn Happy,” was released in 2003, featuring the Grammy-winning song “Wonderful.” In 2004, Franklin announced her departure from Arista after over two decades with the label. To fulfill her obligations, she released the duets compilation album “Jewels in the Crown: All-Star Duets with the Queen” in 2007.

Throughout her time with Arista, Franklin continued to showcase her remarkable talent and enduring influence in the music industry, solidifying her status as the Queen of Soul.

Final years

From 2007 to 2018, Aretha Franklin continued to captivate audiences and make musical history.

In 2008, she released the holiday album “This Christmas, Aretha” and was honored as the MusiCares Person of the Year. Her performance of “Never Gonna Break My Faith” earned her a Grammy and topped the gospel charts in 2020. Franklin also graced the stage of “Dancing with the Stars” and gained attention for her iconic hat during President Barack Obama’s inaugural ceremony.

Throughout the decade, Franklin received accolades, including an honorary degree from Yale University and a performance at the Kennedy Center Honors. She signed with RCA Records in 2014, collaborating with Clive Davis and releasing “Aretha Franklin Sings the Great Diva Classics.” Her rendition of Adele’s “Rolling in the Deep” marked her 100th entry on Billboard’s Hot R&B/Hip-Hop Songs chart.

Franklin’s powerful performances continued, highlighted by her rendition of “(You Make Me Feel Like) A Natural Woman” at the 2015 Kennedy Center Honors and her moving rendition of the national anthem at Ford Field in 2016.

Despite health challenges, Franklin’s talent and showmanship remained unmatched. Her final concert at the Ravinia Festival in 2017 and her last public performance at the Cathedral of St. John the Divine showcased her enduring legacy as the Queen of Soul.

Activism

Throughout her life, Aretha Franklin was deeply committed to activism, championing civil rights, women’s rights, and Native American rights.

She provided financial support to civil rights groups, sometimes covering their payroll, and lent her voice to numerous benefit concerts and protests. In 1970, when activist Angela Davis was incarcerated, Franklin passionately advocated for her release, emphasizing the importance of freedom for Black people. She declared, “Angela Davis must go free,” highlighting her belief in justice for Black individuals.

Franklin’s iconic songs such as “Respect” and “(You Make Me Feel Like) A Natural Woman” became anthems for social change, resonating with movements striving for equality and empowerment.

In 2017, Franklin joined several other prominent figures in refusing to perform at President Donald Trump’s inauguration, using her platform to express dissent and solidarity with marginalized communities.

Moreover, Franklin was a staunch supporter of Native American rights, offering quiet yet unwavering support to Indigenous peoples’ struggles worldwide. She actively backed movements advocating for cultural rights and recognition for Native American and First Nation communities, demonstrating her commitment to justice and inclusivity.

Personal Life

Aretha Franklin’s personal life was marked by significant transitions and family dynamics. After moving to New York City in the 1960s to pursue her music career, she later settled in Los Angeles before returning to Detroit in the mid-1970s to be closer to her family. Her fear of flying, stemming from an incident in 1984, limited her travel to North America only. Franklin remained deeply connected to her Baptist faith throughout her life.

As a mother, Franklin had four sons, each with different fathers. Her early pregnancies, beginning at the age of 12, were not widely discussed, but her grandmother and sister played crucial roles in raising her children while she pursued her career. Franklin married twice; her first marriage to Ted White, marked by domestic abuse, ended in divorce in 1969. She later married actor Glynn Turman in 1978, but they separated in 1982 and divorced in 1984.

Family ties were central to Franklin’s life and career. Her sisters, Erma and Carolyn, were professional musicians who often provided background vocals for her recordings. Her brother Cecil served as her manager until his death, and her close friend Willie Wilkerson, a Vietnam War veteran and firefighter, played a significant role in her life, providing support during her illness. Despite announcing plans to marry Wilkerson in 2012, their engagement was called off shortly after.

Franklin cherished her friendships within the music industry, including relationships with Dionne Warwick, Mavis Staples, and Cissy Houston. She had a special bond with Whitney Houston, referring to her as “Auntie Ree,” but was unable to perform at Whitney’s memorial service due to health reasons.

Politically, Franklin was a registered Democrat. Though her estate was initially estimated at $80 million, it was valued at $18 million at the time of her death, according to reports by the New York Times.

Health

Aretha Franklin faced health challenges throughout her life. She struggled with weight issues, undergoing significant weight loss in the 1970s and again in the early 1990s. Franklin, a former chain smoker and alcoholic, quit smoking in 1992, recognizing the detrimental effects on her voice. However, she admitted that quitting led to weight gain.

In 2010, Franklin canceled concerts to undergo surgery for an undisclosed tumor. Despite rumors of pancreatic cancer, she clarified that the ailment was unrelated and quoted her doctor as saying the surgery would extend her life. Franklin denied undergoing weight-loss surgery but lost 85 pounds following the procedure. Her comeback show at the Chicago Theatre in May 2011 marked her return to the stage.

Subsequent cancellations in 2013 were attributed to undisclosed medical treatment. Franklin spoke optimistically about her recovery, stating she was about “85% healed” but needed to cancel shows until fully recovered. She resumed live performances, including a Christmas concert in Detroit and a multi-city tour starting in 2014.

In February 2017, Franklin announced her retirement from touring, citing health reasons. Despite scheduling concert dates in 2018, she ultimately canceled them based on her physician’s advice. Throughout her health challenges, Franklin remained resilient, continuing to share her music and inspire audiences.

Death and funeral

Aretha Franklin passed away on August 16, 2018, at her home in Detroit, aged 76, surrounded by loved ones while under hospice care. Her death was attributed to a malignant pancreatic neuroendocrine tumor, a distinct form of pancreatic cancer. Following her passing, an outpouring of tributes from celebrities, politicians, and activists honored her immense contributions to music and civil rights.

A memorial service took place at her home church, New Bethel Baptist Church, on August 19, followed by a public viewing at the Charles H. Wright Museum of African American History, where thousands paid their respects. The Homegoing Service on August 31 at Greater Grace Temple in Detroit featured numerous tributes from celebrities and dignitaries, including performances by Ariana Grande, Stevie Wonder, and Faith Hill.

The service, streamed by various news agencies, also included heartfelt eulogies and speeches from figures such as Bill Clinton, Rev. Al Sharpton, and Gladys Knight. However, the eulogy delivered by Rev. Jasper Williams Jr. sparked controversy for its political tone and criticism of the African American community. Despite this, Franklin’s legacy was honored, and she was laid to rest at Woodlawn Cemetery in Detroit following a telecast procession through the city.