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How much Mariah Carey makes from ‘All I Want For Christmas Is You’

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2 years ago

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Mariah Carey performs “All I Want for Christmas Is You” at the 2023 Billboard Music Awards. 

Gilbert Flores | Penske Media | Getty Images

“I don’t want a lot for Christmas / There is just one thing I need / An answer to just one question / An estimate of Mariah Carey’s song royalties, please?”

No, my makeshift lyrics aren’t as catchy as the opening lines of Carey’s “All I Want for Christmas Is You,” the 1994 jingle that became practically ubiquitous over the airwaves around holiday season.

But they do pose a question that probes into the black box of music-industry economics: How much money does the song earn for Carey, the song’s performer and so-called “Queen of Christmas,” each year?

Revenue estimates by Billboard suggest she made perhaps $2.7 million to $3.3 million in 2022, for example, from song downloads and on-demand streaming. It excludes other potentially lucrative revenue streams like Christmas TV specials.

But it’s hard to know a precise sum, largely because contractual details between Carey, her music label and song publishers aren’t public, experts said. The pop star’s publicist, Chris Chambers, didn’t return a request for comment submitted to his firm, The Chamber Group, about her royalties.

“Whatever it is, it’s a lot of money,” said Natasha Chee, a music, entertainment and intellectual property attorney at law firm Donahue Fitzgerald.

The song may have earned $103 million since 1994

“All I Want for Christmas Is You” is a yuletide juggernaut.

Spotify announced this month that the anthem was the first-ever holiday song to surpass 2 billion global streams. It has been the No. 1 song globally on Christmas Day each year since 2016, Spotify said.

The tune’s popularity has only grown: Total U.S. audio streams rose to 249 million in 2023, up about 49% from 167 million in 2019, according to Luminate, which tracks music industry data.

(As of Dec. 12, total U.S. streams of the song this year were down 8% relative to 2023, Billboard estimated. That’s partly a function of the shorter holiday season from a late Thanksgiving, experts said.)

The song “is a money machine,” said George Howard, a professor at the Berklee College of Music and former president of Rykodisc, an independent record label. “It’s a real phenomenon,” he said.

Mariah Carey performs onstage during her “All I Want For Christmas Is You” tour at Madison Square Garden on Dec. 15, 2019 in New York City. 

Kevin Mazur | Getty Images Entertainment | Getty Images

Howard, who also does consulting work to value music copyrights, estimates the chart-topper makes $2 million to $4 million in annual gross revenue.

Similarly, Manatt, Phelps & Phillips, which specializes in music industry law, estimates the hit generates $3.4 million a year.

Over its 30-year existence, the song has made about $103 million in earnings, the law firm estimates. The projections include global streaming and non-streaming revenue sources, according to Manatt, which created Billboard’s royalty calculator.

The song’s 2 billion global Spotify streams alone earned $9.8 million in royalties, according to the calculator.

But Carey only gets a portion of those earnings.

Why Carey is likely getting paid ‘six ways to Sunday’

Mariah Carey performs during the opening show of Mariah Carey: All I Want For Christmas Is You at Beacon Theatre on Dec. 5, 2016 in New York City. 

Jeff Kravitz | Filmmagic, Inc | Getty Images

The ecosystem of music royalties is notoriously convoluted.

Money flows to many contributors, like writers, performers, producers, sound mixers and record labels. Payouts to each person can vary from song to song, depending on contractual terms, experts said.

The terms of Carey’s royalty deals aren’t public knowledge.

“Whatever it is, it’s a lot of money,” said , a music, entertainment and intellectual property attorney at law firm Donahue Fitzgerald.

Natasha Chee

senior counsel at Donahue Fitzgerald

The singer is likely getting a “bigger chunk” of revenue than most artists, Howard said. That’s because of Carey’s multiple credits on the song: She’s listed as the sole performer, as well as its co-writer and co-producer. (Walter Afanasieff is the other co-writer and co-producer.)

Such a multitude of credits is unusual to see, Howard said. And it’s an important factor in Carey’s ultimate take-home pay.

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Music royalties are different from those of other works like books or photography.

That’s because there are two distinct royalty streams — one for music composition and another for sound recording, said Jordan Bromley, partner and head of Manatt Entertainment. Think of the former like the sheet music sitting on your piano (the songwriting), and the latter as the recorded song that you hear, he said.

Each has its own royalty structure. The royalties for music composition are received by songwriters and publishers, while those for sound recording are paid to song performers and their labels, Howard said.

Carey “has both the copyright to the song and the sound recording, so she’s getting paid on both sides,” Howard said.

“She’s getting paid six ways to Sunday,” he said.

Svetikd | E+ | Getty Images

A song’s writers and publishers — and not its performers — get the royalties when a song plays in a public space, such as on TV and radio, or in restaurants and retail stores, experts said. The U.S. is one of the few countries to have such a rule, Howard said.

This means that Carey (and Afanasieff, her co-writer) gets royalties whenever a cover version of “All I Want for Christmas Is You” plays in the public domain. Over 150 performers have covered the song, according to ASCAP, a performing rights organization.

Carey and Afanasieff split their writing credits with publishers including Universal Music, Sony Music and Kobalt Songs Music Publishing, according to ASCAP.

106 million packages shipped per day between Thanksgiving and Christmas

However, song recording generally brings in four to five times the revenue of songwriting, Bromley said.

“If you’re a songwriter with no record revenue, it’s hard to make a living even if you’re making hits,” he said.

The artist’s take of the recording revenue relative to the label’s can swing widely, anywhere from 20% up to 90%, depending on the contract, Bromley said. “All I Want for Christmas Is You” was released by Columbia Records, which is owned by Sony Music.

Afanasieff, Sony Music and Kobalt Songs Music Publishing didn’t return requests for comment. Universal Music Publishing Group declined comment.

Why Carey may have made over $2.7 million in 2022

Santa Claus and Mariah Carey during a pre-tape performance for NBC’s Christmas tree lighting at Rockefeller Center on Nov. 27, 2012 in New York City.

James Devaney | Wireimage | Getty Images

Experts note that earnings from record sales and licensing can vary greatly from year to year, while revenue from streaming and performance is more predictable.

Of the aforementioned estimated $8.5 million in global revenue and publishing royalties that “All I Want for Christmas Is You” earned in 2022, the Carey master recording brought in $5.3 million and publishing royalties accounted for the remaining $3.2 million, Billboard said.

What was Carey’s cut?

She made about $1.9 million of the master recording revenue, Billboard estimated, while her label, Sony, kept the other $3.4 million.

She’s getting paid six ways to Sunday.

George Howard

professor at the Berklee College of Music

Carey also earned an estimated $1.6 million of the publishing, assuming she and Afanasieff split the writing 50-50. But her take-home pay would have been less, depending on her publishing deal — perhaps ranging from about $795,000 to $1.4 million, Billboard said.

All told, these estimates suggest Carey may have made about $2.7 million to $3.3 million from recording and publishing in 2022.

This excludes revenue from any financial arrangements for soundtracks from Christmas TV specials, which are likely lucrative, according to Billboard. It also excludes cover versions of the song.

“There’s a ton of revenue that opens up” for a pop star who is almost “co-branded” with Christmas, including deals for brand endorsements, live performances, cosmetics, home goods and apparel, Manatt Entertainment’s Bromley said.

The gift that keeps giving

Picture Alliance | Picture Alliance | Getty Images

The song is the gift that will keep keep on giving for years, experts said.

The copyright for works published after Jan. 1, 1978, generally remains intact for the author’s lifetime, plus 70 years after the author’s death, according to Chee of Donahue Fitzgerald.

In the case of a joint work with two or more authors, such as “All I Want for Christmas Is You,” the rule applies to the last surviving author.

That means Carey’s estate will likely rake in royalties for decades, until the song eventually passes into the public domain, she said. When that happens, the song would join the ranks of Christmas classics like “Jingle Bells” and “We Wish You a Merry Christmas,” which can generally be freely shared and adapted.

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$20,000 Caution Bond Requirement for US Visa Applications imposed on 50 Countries

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7 days ago

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August 8, 2026

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The United States Department of State has officially implemented a revised visa policy introducing a mandatory posting requirement for caution payments of up to $20,000 on select foreign travel applications. Under the updated regulatory framework, consular officials are authorized to require temporary nonimmigrant visa applicants from targeted foreign countries to post a refundable financial bond of $20,000 as a condition for visa issuance. The policy mechanism is designed to address diplomatic concerns regarding high overstay rates among temporary visitor, business, and educational visa categories.

The caution bond pilot program applies selectively to foreign nationals from designated countries whose diplomatic entities record historical visa overstay rates exceeding established federal thresholds. Under administrative guidelines published by the State Department, the full financial deposit is posted directly to a dedicated federal escrow account prior to final visa issuance. The entire caution payment is automatically refunded to the applicant upon verified proof of timely departure from the United States in strict compliance with the authorized duration of stay. Conversely, failure to depart within the legal timeframe results in full forfeiture of the posted financial bond to the United States government.

Diplomatic representatives and travel policy experts have expressed varying perspectives regarding the operational implementation of the caution bond system. Administration officials emphasize that the measure serves as an effective, market-based incentive to enforce international travel compliance and preserve domestic immigration security standards. However, international trade organizations and foreign diplomatic missions have raised concerns regarding the financial burden imposed on legitimate business travelers, foreign students, and commercial partners from developing nations.

The United States finalized the rule to make the temporary visa bond program permanent, taking effect on August 3, 2026. The updated permanent regulation replaces the prior 12-month pilot, eliminates the lowest $5,000 tier, and raises the maximum required bond amount to $20,000 for specific B-1/B-2 business and tourist visa applicants.

Here is the list of the 50 countries on the list as o August 3, 2026

African Nations (31 Countries)

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burundi
  • Cabo Verde (Cape Verde)
  • Central African Republic
  • Côte d’Ivoire (Ivory Coast)
  • Djibouti
  • Ethiopia
  • Gabon
  • The Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Lesotho
  • Malawi
  • Mauritania
  • Mauritius
  • Mozambique
  • Namibia
  • Nigeria
  • São Tomé and Príncipe
  • Senegal
  • Seychelles
  • Tanzania
  • Togo
  • Tunisia
  • Uganda
  • Zambia
  • Zimbabwe

Asian & Eastern European Nations (11 Countries)

  • Bangladesh
  • Bhutan
  • Cambodia
  • Georgia
  • Kyrgyzstan
  • Mongolia
  • Nepal
  • Papua New Guinea
  • Tajikistan
  • Turkmenistan
  • Uzbekistan

Caribbean & Latin American Nations (5 Countries)

  • Antigua and Barbuda
  • Cuba
  • Dominica
  • Grenada
  • Venezuela

Oceanian Nations (3 Countries)

  • Fiji
  • Tonga
  • Vanuatu

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Next-Generation Retirement Planning: Managing Longevity Risk and Variable Income Streams

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1 week ago

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August 7, 2026

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Retirement planning strategies are evolving in 2026 to address increased life expectancies, shifting dynamic market conditions, and the transition away from traditional defined-benefit pensions. Individual investors and financial advisors are abandoning rigid retirement models in favor of flexible, multi-asset strategies designed to mitigate longevity risk and preserve purchasing power over multi-decade retirement horizons.

Mitigating Longevity Risk with Dynamic Asset Allocation
As average life expectancies extend past eighty-five years, one of the primary financial risks facing retirees is outliving their accumulated wealth. Traditional fixed income allocations—such as the standard 60/40 equity-to-bond portfolio—are being reevaluated to ensure portfolios generate sufficient capital growth alongside reliable income.

Financial planners recommend maintaining a meaningful equity allocation throughout retirement to offset long-term inflation erosion. High-dividend equity funds, global real estate investment trusts (REITs), and inflation-indexed Treasuries are combined to create diversified portfolios that deliver both growth and income stability.

The Transition to Dynamic Withdrawal Strategies
The classic “4% safe withdrawal rule” is increasingly replaced by dynamic withdrawal strategies that adapt annually based on market performance. Under a dynamic withdrawal framework, retirees adjust their annual distribution rates within pre-set caps and floors:
– Market Upside: During strong market returns, retirees can increase discretionary spending or fund family legacy gifts.
– Market Downturns: During market pullbacks, spending distributions are temporarily reduced to prevent sequence-of-returns risk and preserve core investment principal.

Guaranteed Lifetime Income Options and Deferred Annuities
To establish a guaranteed baseline for essential living expenses, individuals are incorporating modern fixed-indexed and deferred longevity annuities into their broader retirement architectures. Modern annuity structures offer competitive return caps, transparent fee schedules, and inflation-adjustment options.

By funding essential expenses—such as housing, healthcare, and insurance—with guaranteed income streams from Social Security, pensions, and annuities, retirees can manage discretionary investment portfolios with greater flexibility and lower emotional stress during market volatility.

Actionable Steps for Future Retirees
1. Calculate Baseline Retirement Expenses: Determine fixed living costs and map guaranteed income sources to cover essential expenditures.
2. Adopt Flexible Withdrawal Rules: Implement dynamic spending rules to protect investment principal against market downturns.
3. Incorporate Inflation-Protected Assets: Maintain exposure to dividend-growing equities and inflation-indexed bonds to safeguard long-term purchasing power.

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Building Generational Wealth: Family Governance, Estate Tax Optimization, and Asset Protection

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2 weeks ago

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August 1, 2026

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As the largest intergenerational transfer of wealth in history accelerates, high-net-worth families, entrepreneurs, and individual investors are placing heightened emphasis on comprehensive estate planning, family governance, and asset protection. Preserving capital across generations requires a balanced approach combining tax-efficient legal structures with open family communication and financial literacy education.

Optimizing Estate Tax Exemptions and Trust Structures
With potential modifications to federal estate tax exemption thresholds on the horizon, proactive estate planning is essential for high-net-worth households. Estate planning attorneys and wealth advisors are establishing multi-generational trust structures to transfer wealth efficiently while minimizing estate and gift tax exposure.

Popular structural strategies include:
– Irrevocable Life Insurance Trusts (ILITs): Utilizing life insurance proceeds to provide liquidity for estate tax obligations without expanding the taxable estate.
– Grantor Retained Annuity Trusts (GRATs): Transferring rapidly appreciating assets to beneficiaries with minimal gift tax consequences.
– Dynasty Trusts: Preserving wealth across multiple generations while providing long-term asset protection from creditor claims and legal liabilities.

Establishing Family Governance and Financial Education
Legal and financial structures alone cannot guarantee long-term wealth preservation without effective family governance. Financial advisors report that a significant percentage of multi-generational wealth dissipation stems from lack of communication and inadequate financial preparation among heir generations.

Families are establishing formal family governance frameworks, including periodic family meetings, written mission statements, and structured philanthropic foundations. Involving younger family members in charitable grant-making and investment discussions fosters financial stewardship and prepares heirs to manage family assets responsibly.

Digital Asset Custody and Legacy Planning
In today’s modern economy, estate planning must extend beyond physical real estate and traditional brokerage accounts to encompass digital assets. Comprehensive estate plans now include detailed inventories and legal access protocols for corporate domain names, intellectual property, digital media rights, and cryptocurrency holdings.

Fiduciaries and estate executors should be provided with secure, encrypted access mechanisms and clear legal authority to manage and transfer digital holdings in accordance with the owner’s estate directions.

Practical Steps for Legacy Planning
1. Review and Update Estate Documents: Ensure wills, revocable trusts, and power-of-attorney designations accurately reflect current family structures.
2. Establish Structured Trusts: Utilize irrevocable trusts to protect assets from creditors and minimize future estate tax liabilities.
3. Create a Digital Estate Inventory: Document access protocols and legal permissions for all online accounts, intellectual property, and digital assets.

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