Billy Joel Net Worth (Money & Salary)

What is Billy Joel’s Net Worth?

With a net worth of $250 million, Billy Joel is an American singer-songwriter recognized as one of the best-selling music artists in history, with over 160 million records sold globally. His most successful era was during the 1970s and ’80s, a time when he launched numerous successful albums and singles that are now regarded as classics.

Notable for his storytelling talent and ability to produce catchy, melodic pop tracks, Joel has released major albums such as “The Stranger” (1977), featuring hits like “Just the Way You Are,” “Movin’ Out (Anthony’s Song),” and “Only the Good Die Young.” Another significant album is “52nd Street” (1978), which received the Grammy for Album of the Year and included the well-known track “My Life.” Further, “Glass Houses” (1980) includes the top-charting hit “It’s Still Rock and Roll to Me,” while “An Innocent Man” (1983) pays tribute to the various musical styles of the 1950s and ’60s.

One of his most cherished songs, “Piano Man,” is from the album released in 1973, which shares the same title. This track is often regarded as his signature song and showcases Joel’s skill in creating relatable stories paired with engaging melodies.

Billy Joel’s Earnings

From June 2017 to June 2018, Billy Joel’s earnings totaled $45 million. Between 2017 and 2019, this figure rose to $50 million.

During his residencies, like the extended runs at Madison Square Garden, he can earn around $2-3 million per performance. His New Year’s Eve show in 2019 grossed $4.6 million. From the beginning of his residency in 2014 to the close of 2019, Joel garnered $150 million from his MSG performances.

MSG Residency Earnings

By July 2024, Billy Joel had completed a decade of monthly performances at Madison Square Garden in New York City. He held 104 concerts that attracted two million attendees, generating $260 million purely from ticket sales.

Early Life

Born on May 9, 1949, in the Bronx, New York City, William Martin Joel was raised by a father who was a classical pianist and businessman from Germany. His family escaped the Nazis, first moving through Switzerland and Cuba before reaching the U.S. Joel’s mother hailed from Kent, England, and his parents met in the late 1930s during a Gilbert and Sullivan show at the City College of New York. While Joel was still a child, his family relocated to Hicksville, Long Island, where he was raised alongside his younger sister, Judy. After his parents divorced in 1957, his father moved to Europe and settled in Austria, where he remarried. Joel’s half-brother Alexander Joel, from his father’s side, pursued music and served as the chief musical director of the Staatstheater Braunschweig from 2001 to 2014.

At just 4 years old, Joel began piano lessons thanks to his mother’s encouragement, sparking a lifelong love for classical music that remains to this day. By the age of 14, he joined his first band, The Echoes. Although he attended Hicksville High School, he did not graduate due to a lack of credits, opting instead for a full-time music career over summer classes that would have allowed him to finish school.

Career

In 1967, after leaving the band The Echoes (which later became known as the Lost Souls), Joel joined the group known as the Hassles. Signed to United Artists Records, the band released several singles and albums, yet none gained significant popularity. Joel departed the band in 1969 alongside drummer Jon Small.

duo, Attila, was formed by him. July 1970 marked the release of their self-titled album, but their collaboration was short-lived due to Joel’s affair with Small’s spouse, Elizabeth.

In 1971, Joel embarked on a solo career after signing a contract with Family Productions, leading to the release of “Cold Spring Harbor” (1971) as his debut solo album. Despite not achieving commercial success, he caught the eye of Columbia Records, which signed him in 1972. Under Columbia, he produced albums such as “Piano Man” (1973), “Streetlife Serenade” (1974), and “Turnstiles” (1976); however, it was his fourth solo effort, “The Stranger” (1977), that marked his breakthrough into mainstream success. Selling over 10 million copies, “The Stranger” was home to hit singles like “Just the Way You Are,” “Only the Good Die Young,” and “She’s Always a Woman.” His following works included “52nd Street” (1978), “Glass Houses” (1980), “The Nylon Curtain” (1982), “An Innocent Man” (1983), “The Bridge” (1986), “Storm Front” (1989), and “River of Dreams” (1993).

With record sales surpassing 150 million globally, Billy Joel is regarded as one of the best-selling musicians in history. He boasts 23 Grammy nominations, having won six, and holds membership in both the Songwriter Hall of Fame and the Rock and Roll Hall of Fame. Although he stepped back from actively recording in 1993, he released “Fantasies & Delusions” in 2001. This album, which diverged from his typical genre and content, features classical piano compositions performed by his longtime friend and pianist, Richard Hyung-ki Joo.

Since then, Joel has toured occasionally, both solo and alongside artists like Elton John. He has maintained a monthly residency at Madison Square Garden since 2014, where he performed his 72^nd consecutive show on January 25, 2020. His immense popularity is highlighted by his compilation album, “Greatest Hits Vol. 1 & 2” (1985), which ranks among the top-selling albums in the US. In 2013, he was honored with the Kennedy Center Honors.

In July 2024, Joel announced that his Madison Square Garden residency would conclude with his 100th performance in the series, marking a total of 150 appearances at the venue throughout his career.

Business Manager Lawsuit

Billy initiated a lawsuit against his ex-manager, Frank Weber, in 1989, seeking $90 million. Being his former brother-in-law, the lawsuit alleged that Weber mismanaged $30 million of Joel’s funds and pursued $60 million in damages. Weber later declared bankruptcy. Subsequently, Joel took legal action against his accountants and lawyers, eventually settling for a reported amount of $8 million.

Other Projects

Joel collaborated with Fred Schruers to write his autobiography, “The Book of Joel: A Memoir” (2011). Moreover, he has owned the Long Island Boat Company and a shop in Oyster Bay, Long Island, specializing in custom retro-styled motorcycles. The biography “Billy Joel” was published in 2014, based on extensive personal interviews with Schruers.

Personal Life

Elizabeth Weber Small was Joel’s first wife. Their

The affair that led to a relationship began while she was still married to Jon Small, a musical collaborator of Joel. Eventually, in 1973, Joel married Small, but they divorced in 1982. Following the mismanagement of approximately $30 million in funds by Elizabeth’s brother Frank, combined with a costly divorce settlement, Billy found himself nearly broke when he exited the marriage.

As he entered his second marriage with American model Christie Brinkley, he was in a precarious financial situation. To generate income, he continually toured, which created significant strain and led to infidelity accusations. Their marriage lasted from 1985 until 1994, during which they welcomed a daughter, Alexa Ray Joel. His third marriage occurred with chef Katie Lee, spanning from 2004 to 2009. Currently, Joel’s fourth wife is Alexis Roderick, whom he wed in 2015, though they have been together since 2009. They share two daughters, Della Rose Joel and Remy Anne Joel.

Despite not earning his high school diploma in 1967 due to insufficient credits, Joel took action 25 years later by submitting essays to the Hicksville High School board to compensate for his missing credits. Consequently, he received his diploma at the school’s 1992 graduation ceremony. Moreover, numerous honorary doctorates have been conferred upon him by institutions such as Fairfield University, Berklee College of Music, Syracuse University, the Manhattan School of Music, and Stony Brook University.

Real Estate

Over the years, Billy Joel has acquired and sold numerous notable properties across the nation, particularly in Florida and Long Island, New York. He has sold previous homes to renowned figures like singer Sting, comedian Jerry Seinfeld, and retail executive Mickey Drexler, often humorously calling himself the “realtor to the stars.”

In 2002, he purchased a mansion named Middlesea for $22.5 million, situated on 14 acres of an island called Centre Island in Oyster Bay, New York. He later expanded the estate to 26 acres through additional acquisitions. The property initially included a 14,000-square-foot mansion, which he grew to 20,000 square feet. Amenities include a helipad, a beach house, and two swimming pools. In May 2023, he listed this property for sale at $49 million. Additionally, Billy owns another residence in Sag Harbor, New York. A video tour of the listed home can be found below:

In 2014, he acquired two adjacent properties in Manalapan, Florida, for just under $12 million, covering 4 acres. One lot was undeveloped, while the other featured a nearly 9,000-square-foot mansion. He put the combined properties on the market in 2015 for $29 million and offered the mansion alone (excluding the undeveloped lot) for $19.5 million. Ultimately, he accepted $10.3 million in January 2020, while the undeveloped lot, comprising around three of the total four acres, remained unsold.

Continuing his real estate ventures, Billy bought another estate in Manalapan in January 2015 for $22.495 million, which includes a 13,000-square-foot waterfront mansion. He listed this estate for sale in January 2024 for $55 million, reducing the price to $50 million in March 2024.

In 2006, he invested $5.9 million in a townhouse located in New York City. Following their divorce, his ex-wife Katie Lee received this property and later sold it in 2011 for $12.9 million.