Beyonce has been declared a billionaire by Forbes, making her the fifth musician to join its list of the world's wealthiest people, BBC reported. 

The American star has joined an elite group of musicians with 10-figure fortunes, Forbes reports, including Taylor Swift, Rihanna, Bruce Springsteen and her husband Jay-Z, who the business magazine lists as having a net worth of $2.5bn (£1.85bn).

Earlier this month, Forbes estimated Beyoncé's net worth of $800m (£593m) and predicted she would cross the billionaire threshold for the first time following years of success, according to BBC.