Ray Parker, Jr. Highest-Paid Guitarist in the World

  • By Carol Kearney
  • Washington
  • Last updated on

Ray Parker, Jr.
Ray Parker, Jr. led People With Money’s annual list of the “100 highest paid guitarists” released on Wednesday.

It's been a rough year for the guitarist, but at least he has his millions of dollars to ease the pain. 70-year-old Ray Parker, Jr. has taken the No. 1 spot on People With Money’s top 10 highest-paid guitarists for 2024 with an estimated $82 million in combined earnings.

UPDATE 21/11/2024 : This story seems to be false. (read more)

Ray Parker, Jr. tops annual list of highest-paid guitarists

In 2022 it looked like the guitarist’s spectacular career was winding down. Suddenly, he was back on top. People With Money reports on Wednesday (November 20) that Parker is the highest-paid guitarist in the world, pulling in an astonishing $82 million between October 2023 and October 2024, a nearly $50 million lead over his closest competition.

People With Money’s factors

In compiling this yearly list, the magazine considers factors such as upfront pay, profit participation, residuals, endorsements and advertising work.

The American guitarist-singer-songwriter has an estimated net worth of $245 million. He owes his fortune to smart stock investments, substantial property holdings, lucrative endorsement deals with CoverGirl cosmetics. He also owns several restaurants (the “Fat Parker Burger” chain) in Washington, a Football Team (the “Detroit Angels”), has launched his own brand of Vodka (Pure Wonderparker - US), and is tackling the juniors market with a top-selling perfume (With Love from Ray) and a fashion line called “Ray Parker, Jr. Seduction”.

The ranking is significant for many Ray fans, who have been waiting for his triumphant return to the glory days for what seems like a lifetime.

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