Bruce Springsteen, 74, is officially a billionaire... three years after selling his music catalog for over $500M

The Boss has officially reached billionaire status. 

Following over five decades in the spotlight, Bruce Springsteen was declared a billionaire by Forbes, with an estimated net worth of $1.1 billion, on Friday.

In their report, the American business magazine noted that the singer's representatives 'could not confirm Forbes’ estimate.' 

The report comes less than three years after the 74-year-old Born in the U.S.A. hitmaker sold his multi-platinum music catalog to Sony Music Entertainment for an estimated $500-$550 million. 

In addition to selling his entire back catalog – including songwriting and recordings – the 20-time Grammy winner has made a fortune touring the world. 

Last year, he 'sold more than 1.6 million concert tickets, generating $380 million in revenue,' according to Variety.

Springsteen grew up in Freehold, a mill town where his father worked various jobs as a bus driver, millworker and prison guard. Meanwhile, his mom was a legal secretary.

Over his career, the father-of-three has topped the charts and released 21 studio albums, 23 live albums, 77 singles, and 66 music videos. 

Springsteen is one of the most successful recording artists of the past century. 

He sold 65.5 million albums in the U.S. alone, according to the Record Industry Association of America (RIAA).

Over the decades Springsteen has stuck by his manager of nearly 50 years, Jon Landau. Together, the duo have been nothing short of a success. 

Other than the lucrative deals for his publishing and song catalog, Springsteen is also one of the most profitable touring entertainers ever, having generated more than $840 million in tours, only between 2010 and 2019, according to Pollstar. 

The feat comes less than two months after he was forced to postpone two shows under doctor's orders. 

In May, the music icon revealed to fans that after consulting a team of doctors, he was advised not to 'perform for the next ten days.' 

Fans were assured that 'Bruce is recuperating comfortably, and he and the E Street Band look forward to resuming their hugely successful European stadium tour on June 12 in Madrid at the magnificent Civitas Metropolitan.'

Last September the New Jersey native postponed all his remaining 2023 concerts until 2024 as he recovered from peptic ulcer disease.

He shared an Instagram post announcing all remaining tour dates for Bruce Springsteen and The E Street Band would be halted on the advice of his doctor.

The post read: 'Bruce Springsteen has continued to recover steadily from peptic ulcer disease over the past few weeks and will continue treatment through the rest of the year on doctor's advice.

'With this in mind, and out of an abundance of caution, all remaining 2023 tour dates for Bruce Springsteen and The E Street Band will be postponed until 2024.

'Rescheduled dates for each of the 2023 shows, including those postponed earlier this month, will be announced next week, all taking place at their originally scheduled venues.'

He expressed gratitude, writing, 'Thanks to all my friends and fans for your good wishes, encouragement, and support. I'm on the mend and can't wait to see you all next year.' 

Earlier this year, Springsteen was presented the Academy Fellowship Award by friend Sir Paul McCartney at the Ivor Novello Awards. 

While accepting the award, the star hugged the former Beatle and referenced his 'long and wonderful history' in the UK, thanking the 'extraordinary' fans for supporting him.