Born on December 24, 1971, Ricky Martin has excelled as one of the most commercially successful Latin American singers in the entire world. Regarded by many as the “King of Pop,” he helped to pave the way for numerous other Hispanic singers such as Enrique Iglesias, Marc Anthony, Jennifer Lopez, and Shakira to name a few. Beginning his professional career in 1984, he was given the title of King of Pop because of his consistent hit-record-making talent in the Latin pop, pop, dance, reggaeton, and salsa genres, not forgetting his collaborations with Sting, Carla Morrison, and Bad Bunny to name a few. His career as a singer and entertainer has awarded him a career of $130 million. Let’s look into 10 ways Ricky Martin spends his fortune.
Real Estate Purchases
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Similar to his fellow Hispanic artist, Jennifer Lopez, and the billionaire celebrity diva Rihanna, Ricky Martin also has a decent spread of real estate under his belt which has only increased his net worth. According to Celebrity Net Worth, his portfolio consists of a Beverly Hills mansion he sold in 2006 for $15 million; a New York City apartment he bought for $6 million in 2012 and sold for $8.4 million, and another NYC condo he sold for $7.55 million in 2015. Recently in 2016, he bought a home in the celebrity capital, Beverly Hills, for $13.5 million. This has to be the most luxurious mansion he has purchased, being that it was his most expensive buy. It seems he is on his way to becoming quite the real estate mogul!
According to Dirt, he also listed his seven-bedroom Miami mansion back in 2007 for $16.9 million, equipped with an indoor elevator, media room, and full bar, jacuzzi, and pool. He originally paid $10 million for the Miami Beach property, which means he would’ve made more than a $5 million profit.
Private Island
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A real sign of wealth among Hollywood’s rich and famous transcends merely owning a few mansions or flying your own private jet. Try owning a private island, a purchase only names like Steven Spielberg, director Mel Gibson, and the praised actor, Johnny Depp. According to Showbiz CheatSheet, the Puerto Rican talent spent $8 million on an island off the coast of Brazil spanning more than 19 acres of land in 2008. The island is designed like a mini-fortress, situated in the middle of a marine reserve and protected by twelve cannons and watchtowers. What a way to protect your turf!
Specialized Travelling
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From basketball legends like Michael Jordan to billion-dollar business investors like Mark Cuban, riding the skies in peace, exclusivity, and luxury seems to be non-negotiable for the world’s most financially equipped. After all, surely there aren’t many multi-millionaires riding around in business class on public airlines. Indeed, there are exceptions to the rule, but the majority of celebs making eight figures can afford their own set of wings, and we’re not talking about the Red Bull energy drink.
According to Nicki Swift, the Livin’ La Vida Loca singer has been spotted on many occasions coming out of what is believed to be a Challenger 300 private jet estimated at around $20 million. Hello Magazine featured pictures of him and his gestational adopted twin sons, Matteo and Valentino, aboard the private jet, heading to an undisclosed location. Nothing beats enjoying the fruits of your labor while flying into the sunset with those you love.
Luxury Car Collection
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The ideal picture of success – multiple mansions, a star-studded career, private jet, and an ever-increasing net worth success – is usually accompanied by a garage full of the latest and most expensive supercars in the world. Such is the case with comedian/actor Jamie Foxx, Nicki Minaj, Kendrick Lamar, and many other entertainers. However, despite his flamboyant disposition, Martin owns a simple selection of cars, and not many either! According to Hot Cars, he is said to transition between a Land Rover Range Rover, priced between $83,000 and $104,000, and a Chevy Suburban, priced between $36,900 and $57,400. Perhaps his business investments yield more financial returns than a few fancy cars.
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Martin Music Lab Investment
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Ricky Martin is recognized worldwide for his contribution to music, creating Latin genres of music that have penetrated even American music charts. But what the world may not know is that the star is also a tech wiz. He established Martin Music Lab with two other engineers, which later created Orbital Music. While he may not have the business mind of actor Ryan Reynolds, he has invested in something truly special, even stating confidently that what he is holding, “would be the future of music, how people are going to listen to music from now on.” Orbital Audio is described as a new audio technology that is supposed to enhance your music-listening experience through your headphones.
Casa Salsa Restaurant Investment
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Music and food have always been a great combination. Better yet, entertainment, on the whole, has blended well with the food business since it’s all creativity. A-list celebrities such as Robert De Niro, Mark Wahlberg, and Ryan Gosling have all opened restaurants of their own. Ricky did the same in 1999 when he opened up the Puerto Rican traditional cuisine restaurant, Casa Salsa. However, as of June 2022 the restaurant is said to be closed with no sound reasoning as to why. Casa Salsa has been highly rated and recommended by the patrons who have had the restaurant experience.
Philanthropy And Charity Donations
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Sources: Hello Magazine, Nicki Swift, Showbiz CheatSheet, Dirt, Celebrity Net Worth
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