NORMAN, Okla. – An Oklahoma music sensation is topping the charts as one of the highest-paid musicians in the world.
According to Forbes, Toby Keith is ranked No. 4 on “The World’s 25 Highest-Paid Musicians.”
Forbes looked at income for various musicians from June 1, 2012 through June 1, 2013.
It also took into account concert ticket sales, royalties for recorded music, merchandise and endorsement deals.
The business site calculated that the Oklahoma native earns about $65 million each year.
While he made it into the top five, Toby Keith did not lead the list.
Madonna ranked No. 1, followed by Lady Gaga and Bon Jovi.
However, Toby Keith did earn the most out of any other country artist.
The top musician was “The Material Girl” Madonna Louise Ciccone.
Madonna grossed a whopping $125 million over the past year making her the highest paid musician in the world. She augments her income with heady merchandise sales at concerts, as well as her Material Girl clothing line and Truth or Dare fragrance.
Lady Gaga ranks second with $80 million; she grossed over $160 million on her latest tour before ending the tour due to a hip injury. If she were able to finish it was predicted that she would have topped $200 million. She is poised to possibly topple Madonna with a successful set of concerts which is the main driver for most of the major artists’ earnings.
Product extensions can provide a major boost to an artist’s bottom line and few do it better than Toby Keith. He has his own record label, mescal line and restaurant chain, like his restaurant in Bricktown called “I love this Bar and Grill.”