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Madonna's fortune grants her entry into elite billion dollar club

WENN

Madonna has re-affirmed her place as the Queen of Pop after reportedly joining the billion dollar club.

The singer has boasted a multimillion dollar fortune for years, but it appears she's finally joined the elite group of moneymakers whose bank balances top $1 billion. Madonna's net worth had already been estimated at around $700 million, thanks to her recent record-breaking MDNA world tour, which grossed more than $305 million last year, and drew $75 million from show merchandise sales and $10 million in TV rights and DVD sales.

Now Women's Wear Daily editors report that Madonna has boosted her personal fortune to a whopping seven figures by making wise investments in her Hard Candy gym chain and in coconut health drink Vita Coco, while she banked another $10 million after signing a recent deal with vodka brand Smirnoff.

Her Truth or Dare perfume has also been a big seller -- it has taken in $60 million in sales, while her Material Girl clothing and accessories line is expected to earn her another $10 million in 2013 alone.

If the numbers add up, Madonna is in good company: filmmakers George Lucas and Steven Spielberg, Microsoft boss Bill Gates, Facebook co-founder Mark Zuckerberg and media mogul Oprah Winfrey were all recently named among the world's richest billionaires by editors at Forbes magazine.

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