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Born on May 20th, 1946, Cherilyn Sarkisian was destined to be a star. Her eclectic style and signature voice are instantly recognized by the millions of fans that adore her, and she has managed to reign supreme in the world of music, with many decades worth of entertainment under her belt. Her career has been full of a series of widely publicized ups and downs, but in true form, Cher has always managed to come out on top. Proving that there is no obstacle in life that she can't get past, or around, Cher has established a $360 million net worth and has continued to entertain the masses and stay engaged with her fanbase on social media, demonstrating that she is able to adapt with the ever-changing times and trends in the industry. CNBC reports on the key elements in Cher's life that have led to the tremendous success of this music icon.
The Rise Of Sonny And Cher
Cher came from humble beginnings and would belt out the tunes as a way to tap into her personal form of expression. Her passion for music truly came to fruition when she teamed up with Sonny Bono. Together they formed Sonny & Cher and would go on to become a household name to their ever-loving fans. Anyone who grew up in the 70s can validate the enormity of the impact that Sonny & Cher had on the music industry, and as their fan base continued to expand, so did their wallets. Sonny & Cher churned out hit after hit and quickly became the 'it couple' that media outlets and fans alike simply couldn't get enough of.
They raked in millions of dollars with hits such as; I Got You, Babe, All I Ever Need Is You, and Baby Don't Go. Cher had made it right to the top. She had it all... before she lost it all.
CNBC reports that "between 1965 and 1972, the couple recorded nearly a dozen Billboard Top 40 hits. Around the same time, The Sonny & Cher Comedy Hour was one of the most popular TV shows in America.
Losing It All And Racking Up Debt
Sonny and Cher soon journeyed through troubled times as a couple, ultimately making the decision to divorce. Unfortunately for Cher, Sonny cleaned out their fortune on his way out the door. According to The Guardian, Cher says that Sonny walked away with 95% of Cher's money when their relationship fizzled out, leaving Cher financially unstable. She would soon be in a huge amount of debt, owing $278,000 to the government and struggling to find ways to pay for life's most basic essentials.
Cher went on to say, "we worked side by side for 11 years and I ended up with nothing."
The Road To Recovery
The road to recovery wasn't an easy one for Cher, but thankfully, she had already become infamous for her bold look and her unique vocals. She quickly drew on her talents as a model to make ends meet with some immediate money and continued to generate earnings as a solo artist.
Cher soon discovered that she had a very loyal fan base that absolutely adored her and would be there to invest their hard-earned money in her music. She poured her heart and soul into the creation of new music and would soon rise to the top once more to dominate the charts and leave the past far behind her.
In the late 70s, Cher threw herself into her music. She recorded new songs and also took on acting roles in plays as well as on the big screen, with a variety of movie roles. Cher earned her first Oscar nomination in 1984 for Best Supporting Actress in Silkwood. Four years later, she won Best Actress for her performance in Moonstruck.
Her talents were diverse, and her income was soaring.
The Path To Success
The path to success had officially been paved. Cher's iconic status as a legend in the world of music had already been defined, with a series of globally-recognized hits and albums that saw widespread commercial release.
The accolades she has achieved in her lifetime are truly too many to list.
Among her most notable income streams came from her time in Las Vegas for her residency, which ran from 1980-1982. Each show that was posted sold out nearly immediately, as Cher's star continued to shine.
Nicki Swift indicates that her residency earned her "$300k per week, a hint of what was to come. By 2018, per The Guardian, she acknowledged she was earning around $60 million per year for her residency."
Cher continued to diversify her earnings and soon added a diet and health component to her financial portfolio. She sold well over $10 million in diet and health products over the years and continues to generate substantial earnings through television appearances, hosting opportunities, and of course, through residual payments for her music that continue to be deposited into her account as a result of spending decades in the industry.
She is known by her first name and needs no formal introduction. Cher is a true icon that currently holds $360 million, which is expected to continue to grow, as the tenacious 75-year-old star shows absolutely no signs of slowing down.
Sources: CNBC, Nicki Swift, The Guardian