How Abel Tesfaye Became the World’s Highest-Paid Musician

For the global music industry, 2025 was a year of historic financial shifting. But for Ethiopians everywhere, it was a moment of profound collective pride. Standing at the absolute apex of global entertainment was Abel Tesfaye, known to the world as The Weeknd, and to us as the proud son of Ethiopian immigrants, Samra Mangasha and Mulugeta Tesfaye.

At 36 years old, Abel was officially named the highest-paid musician of 2025, raking in a staggering $298 million over the year. In doing so, he outpaced industry titans like Taylor Swift ($202 million) and Beyoncé ($148 million).

While a massive portion of this windfall came from a highly sophisticated, first-of-its-kind $1 billion catalog partnership, Abel simultaneously conquered the global live entertainment landscape. His After Hours Til Dawn Tour crossed the historic $1 billion mark in gross revenue, solidifying his status as one of only three acts in music history to achieve a ten-figure grossing tour.

1. The $1 Billion Formula: Shrewd Business with an Habesha Mindset

Historically, when a mega-artist cashes in on their catalog, they sign a traditional acquisition deal—essentially selling their masters or publishing rights outright to private equity firms, relinquishing future creative control in exchange for a quick payout.

When Abel and his long-time manager, Wassim “Sal” Slaiby, sat down with New York-based private equity firm Lyric Capital Group, they flatly refused that trajectory. Instead, they utilized a level of strategic negotiation that would make any seasoned Ethiopian merchant proud, building a pioneering corporate structure that retains absolute ownership.

How the Deal Was Structured

Instead of selling his musical heritage, Abel formed a new corporate entity and transferred the rights to his entire catalog from the start of his career through 2025 (including global anthems like “Blinding Lights” and “Starboy”) into it.

• The Valuation: The total catalog asset value was established at $1 billion.
• The Equity Split: Lyric Capital Group purchased a 25% equity stake in this new venture for $250 million.
• The Debt Leverage: The remaining 75% of the entity’s value ($750 million) was raised via structured institutional debt.
• The Net Payout: Out of this liquidity injection, Abel pocketed an estimated $200 million net after immediate fees and corporate structures.

Retaining the “Arba” (The Roots)

Unlike standard catalog buyouts, Abel Tesfaye retains full operational ownership and absolute creative control over his masters. Lyric Capital acts merely as an investment partner receiving a share of the ongoing royalties. Furthermore, because all future music is completely excluded from the deal, Abel maintains an entirely unencumbered canvas for his upcoming musical eras.

2. Breaking Records on the Road: The After Hours Til Dawn Juggernaut

While the corporate boardrooms were finalizing nine-figure financial structures, Abel was rewriting the record books on stadium stages worldwide. The After Hours Til Dawn Tour officially became the highest-grossing tour by a male solo artist in history.

For the global Ethiopian diaspora, watching Abel command audiences of 80,000+ people a night—often with fans waving the green, yellow, and red flag in the front rows—has been nothing short of inspiring. Even with stadium-level scaling, demand consistently outstripped supply, pushing the live run into the elite tier of touring history alongside Taylor Swift’s Eras Tour and Coldplay.

3. The Sound of the Diaspora: Hurry Up Tomorrow and Creative Evolution

Finances aside, 2025 was a year of massive creative transition. The rollout of his sixth studio album, Hurry Up Tomorrow, debuted at No. 1 globally. For local fans and audiophiles, Abel’s music has always carried a distinct, undeniable connection to his roots.

The haunting, melancholic vocal runs, the microtonal inflections, and the emotional vulnerability that defined “The Weeknd” sound are deeply rooted in traditional Ethiopian Tizita (the music of nostalgia and longing) and the vocal styling of icons like Aster Aweke. Abel, who grew up speaking Amharic as his first language in Toronto, has seamlessly exported the emotional DNA of Habesha culture into mainstream global pop.

Accompanied by a companion psychological thriller feature film of the same name, Hurry Up Tomorrow marked the definitive conclusion to his multi-album trilogy. Abel has consistently signaled that this project represents the narrative death of “The Weeknd” persona.

“The alter ego has run its course. The music will always be there, but as a creator, you have to kill the character to let the next phase live.”

What’s Next: The Rise of Abel Tesfaye

At 36, having conquered streaming records, stadium circuits, and alternative corporate finance, the artist is visibly positioning himself for a master-level reinvention under his birth name.

By turning his creative output into a self-owned corporate powerhouse, he has proven that modern artists do not have to choose between massive liquidity and artistic independence. As he prepares to close the final Asian leg of his historic tour, he exits 2025 not just as a global pop icon, but as a beacon of what is possible when diaspora talent meets relentless, strategic ambition.