United Kingdom, Dec. 30 -- Beyonce has achieved billionaire status.

The 44-year-old singer has become the fifth musician to be declared a billionaire by Forbes magazine, following in the footsteps of Jay Z, her husband, as well as Taylor Swift, Rihanna, and Bruce Springsteen.

Beyonce founded her own entertainment company, Parkwood Entertainment, back in 2008, and according to Forbes, the business "manages her career and produces all of her music, documentaries and concerts, fronting most of the production costs in order to capture more of the back-end economics".

The publication also explained how Beyonce's personal fortune has swelled in recent years.

Forbes said: "In total, the Cowboy Carter Tour grossed more than $400 million in ti...