Tyra Banks, the American media personality and famous model has been repeatedly ranked among the most influential people in the world by magazines like Time.
Her fame mostly comes from her various appearances on TV and her modeling gigs but she’s also an experienced investor and entrepreneur.
In 2024, Tyra Banks’ net worth is estimated at $90 million.
Banks found the peak of her modeling career in the 1990s, walking for Marc Jacobs and Chanel, among others. Later on, her transition into the TV industry took her career to new heights, with her most notable achievement being her role in America’s Next Top Model.
These days, the famous actress and model is more focused on business, managing several companies, and investing heavily in real estate.
To learn how she got to America’s Next Top Model and earned her millions, read this post.
How Much is Tyra Banks Worth in 2024
- $90 million net worth from modeling, TV, business, and real estate.
- First African-American woman on covers of major magazines.
- Created and hosted “America’s Next Top Model” and “The Tyra Banks Show.”
- Owns Bankable Productions and Tyra Beauty.
- Invests in real estate, including a $10.13 million Manhattan duplex.
- Founded Tyra Banks T-Zone and Tyra Banks Scholarship.
Tyra Banks’ Net Worth Breakdown:
As a former Victoria’s Secret model, a major TV personality, and a businesswoman, it should come as no surprise that Tyra Banks is worth millions of dollars these days.
Her estimated net worth is based on her known earnings, though a lot still remains undisclosed to the public, such as her book earnings and business venture profits.
After detailed research of her career and earnings, we created a comprehensive breakdown of Tyra Banks’ net worth and her major assets, which you can find below:
| Asset or Income Source | Contribution to Net Worth |
| The Tyra Banks Show earnings | $18 million annually |
| Lingerie contract (details undisclosed) | $4 million annually |
| Reality TV earnings | ~$30 million annually |
| Real estate portfolio and profits | $16+ million |
| Victoria Secret earnings | $27 million total |
| Total earnings in 2005 | $18 million |
| Annual salary in the 90s | $12 million |
| Other business earnings | Unknown |
| Total Net Worth | $90 million |
5 Fun Facts about Tyra Banks
- First African-American woman on GQ and Sports Illustrated Swimsuit Issue covers.
- Earned around $50,000 a day at the peak of her modeling career.
- Completed a nine-week Owner/President Management Program at Harvard Business School in 2012.
- Created and starred in the Disney Channel movie “Life-Size,” playing a doll named Eve.
- Known for her role as Eve in the Disney Channel movie “Life-Size.”
Latest News & Update
Tyra Banks recently made a highly anticipated return to the runway for the 2024 Victoria’s Secret Fashion Show, nearly 20 years after she retired from modeling in 2005.
This comeback highlights her ongoing influence in the fashion world as one of the most iconic supermodels. Banks walked the runway in a dazzling outfit and expressed her excitement about returning to the show, calling it a surreal experience.
She continues to be an influential figure in both fashion and business, managing her ice cream brand, SMiZE Cream.
Early Life and Education
Tyra Lynne Banks, nicknamed BanX, was born in Inglewood, California, on December 4, 1973. Her parents are Carolyn London, a medical photographer, and Donald Banks, a computer consultant.
When Tyra Lynne Banks was six years old, in 1979, her parents divorced. Banks subsequently enrolled in John Burroughs Middle School, followed by Immaculate High School in Los Angeles.
Banks’ future career as a model wasn’t exactly ‘expected’ when she was young. She was often teased for her appearance as a child, referring to this time as her ‘ugly duckling’ period. However, when she was 11, she lost 30 pounds and grew three inches in a couple of months, instantly losing the ‘ugly duckling’ title.
So, Tyra Banks started her modeling career as early as high school, though this wasn’t an instant success. Before she signed a contract with the modeling agency L.A. Models, young Banks was rejected by several agencies.
At the age of 16, Tyra Banks signed with Elite Model Management, a Paris-based model agency, and moved to Milan to start her new career. Two years later, she made her unforgettable debut during the 1991 Paris Fashion Week.
Tyra Banks’ Education
In 2011, after the tremendous success in her modeling career and her TV appearances, Tyra Banks decided to take the nine-week Owner/President Management Program (OPM) at Harvard Business School. She completed the training program in 2012 and earned a non-degree certificate.
Tyra Banks Net Worth: Early Days of An Illustrious Modeling Career
Tyra Banks’ modeling career started in Los Angeles while she was still in high school. At the time, she was 15 years old, and four modeling agencies rejected her before she signed with L.A. Models.
At age 16, the young model switched to Elite Model Management and moved to Milan to start her career in Europe.
In a single runway season, she booked 25 shows in the Paris Fashion Week, and subsequently appeared in editorials for Vogue, Elle, Vanity Fair, and Harper’s Bazaar (even on the magazines’ covers).
The Growth of Tyra Banks’ Modeling Career
After her debut in the modeling industry, Tyra Banks walked in major fashion shows and appeared in advertising campaigns for names like Yves Saint Laurent, Oscar de la Renta, Ralph, Lauren, Chanel, Christian Dior, Calvin Klein, Givenchy, Marc Jacobs, Valentino, Giorgio Armani, and more.
Fast forward to 1993, and the now famous model signed her first major endorsement contract with CoverGirl Cosmetics, appearing in advertising campaigns for the cosmetics company.
Some of the highlights of her modeling career include:
- Awarded “Supermodel of the Year” award by VH1 in 1997
- Becoming the first African-American woman on the covers of GQ, Victoria’s Secret Catalog, and Sports Illustrated Swimsuit Issue.
- Worked as a Victoria’s Secret Agent in 2005, becoming the first African-American woman to sign a modeling contract with the brand
Tyra Banks was one of very few African-American girls who had achieved Supermodel status at the time, remaining Victoria’s Secret Angel from 1997 to 2005.
In 2005, she exited the modeling scene altogether.
Before retiring from modeling, Tyra Banks reportedly signed a $4 million-a-year lingerie contract, though the details of it haven’t been disclosed. She reportedly earned around $50,000 a day at the peak of her career.
In 2005, the model earned $18 million in total. In comparison, she earned around $12 million a year in the 1990s.
Even though she retired from modeling at one point, Tyra Banks continues to appear in magazines and is currently a contributor to the Vogue Italia website.
To be more, she came out of modeling retirement and posed for one of the three Sports Illustrated Swimsuit Issue covers in 2019.
The now famous TV personality and businesswoman revealed that she is changing her moniker to ‘BanX,’ marking her rebirth in the modeling scene.
“Mononyms are exciting in the industry,” she explained. “But usually models use their first names, like Iman. I want to flip the script and go by my last name. I’m taking something familiar and making it new. I’m wiser now and thicker.”
Tyra Banks as a Television Personality
Beyond her career in magazines and fashion shows, Tyra Banks has a grand career in television. She started acting in the sitcom The Fresh Prince of Bel-Air in 1993 in the series’ fourth season, making a total of seven appearances in the series. Her first movie debut was in Higher Learning two years later.
In addition to these roles, Banks appeared in:
- Love Stinks (1999)
- Life-Size (2000) by Disney Channel, as a doll named Eve
- Coyote Ugly (2000) as Zoe
- Love & Basketball (2000)
- Halloween: Resurrection (2002)
- Gossip Girl (2009)
- Hannah Montana: The Movie (2009)
- Glee (2013)
- Life-Size 2 (2019)
Other TV credits of the former Victoria’s Secret Angel include All That, MADtv, Felicity, The Price is Right, Space Ghost Coast to Coast: Chinatown, and Wild’n Out.
Success through Production Company
At this point, Banks was one of the highest-paid models and a major TV personality. Her financial success allowed her to found her own production company, which she named “Ty Ty Baby Productions” (later renamed Bankable Productions).
It was through her production company that Banks created The Tyra Banks Show, the movie The Clique, and America’s Next Top Model.
In 2003, Banks created America’s Next Top Model, a reality television series that she presented and executive produced for a total of 21 seasons until it was canceled in October 2015.
In 2016, she was the executive producer for the revival of the series, choosing Rita Ora to host the twenty-third cycle before she once again became the host in the following cycle.
In addition to the reality show, Banks had her own talk show called The Tyra Banks Show, which lasted for five years between 2005 and 2010 and aired on The CW. Her talk show won two Daytime Emmy Awards for Outstanding Talk Show Informative.
Banks pocketed $18 million per year from her show alone and she made a total of $30 million per year from all of her reality TV appearances.
In 2012, Vogue shared that the award-winning talk-show host would co-create and executive produce an ABC comedy series titled Fivehead, which would be based on the teenage years. She teamed up with Kenya Barris, her childhood friend to create the show.
“In high school, if you have glasses, you’re a ‘four eyes’, if you have braces, you’re a ‘metal mouth’ but if you had my forehead? You’re a FIVEHEAD,” said Banks.
In 2015, Banks accepted a co-hosting role in the talk show FABLife, where she remained for a total of two months. She reportedly quit the show to focus on a new venture, her cosmetics company. In 2017, she became the host of America’s Got Talent in the show’s 12th season.
In 2020, Tyra Banks became the host of Dancing with the Stars in the show’s 29th season.
She signed a deal with ABC Signature to host and executive produce this show through her company, which she did until she left after three seasons to ‘focus on business commitments.’
That same year, she was announced as the star and executive producer of the Beauty docuseries for Quibi. However, this project never came true since Quibi shut down in October of the same year, six months after the company’s launch.
Social Media Followings
As one of the foremost supermodels in the fashion industry, not to mention the first African American model to get on the covers of major magazines, Tyra Banks has a major social media following.
On Instagram alone, the actress/model has over 7.2 million followers. On Facebook, she has over 12 million followers as of May 2024.
Such grand popularity on social media makes Tyra Banks the perfect influencer for brands in the modeling and entertainment industry. For starters, she reportedly earned $3 million per year from Victoria’s Secret between 1996 and 2005.
Music Video Appearances
Banks’ involvement in the entertainment industry doesn’t end with TV shows and movies. She has also appeared in several music videos including:
- “Black or White” by Michael Jackson
- “Trife Life” by Mobb Deep
- “Love Thing” by Tina Turner
- “Too Funky” by George Michael
- “Don’t Wanna Lose You” by Lionel Richie
In 2004, Banks recorded a single titled “Shake Ya Body,” which premiered on UPN. She also released a single with Kobe Bryant, the late star NBA player, titled “K.O.B.E.” Finally, she released “Be a Star,” her single which was part of the Life-Size movie in 2000.
Philanthropic Endeavors
Tyra Banks is a known philanthropist, having founded her own charitable organization named The Tyra Banks T-Zone, which focuses on the development of life skills and leadership skills.
Through her charity, Banks established the Tyra Banks Scholarship, which provides African-American girls with the opportunity to study at Immaculate Heart High School.
Tyra Banks Net Worth: Businesses, Investments, & Other Ventures
Tyra Banks might have started her rise to fame as a fashion model, slowly climbing the ranks in the fashion world, followed by her foray into the entertainment industry. However, this is not all that the famous model has been doing over the years. Banks is also a successful entrepreneur, a real estate investor, and author.
Authorship
In 1998, Banks co-authored her first book “Tyra’s Beauty, Inside, and Out”.
In 2010, Tyra Banks published “Modelland”, a young adult novel based on her life as a model. Her book topped The New York Times Bestseller list a year later.
In 2018, Banks partnered with her mother Carolyn London to co-author her third book titled “Perfect is Boring”.
Other Business Ventures
Tyra Banks’ impressive net worth also comes from her successful ventures, which include the production company Bankable Productions, as well as her cosmetics business Tyra Beauty. She actually completed the Harvard certificate program to open the latter venture.
In 2011, Banks launched a fashion and beauty website with Demand Media, called typeF.com. In 2015, she launched an interactive cosmetic e-commerce website tyra.com.
Real Estate
Following her retirement from modeling, Banks has been actively investing in real estate. In the last decade or so, she has made a fortune from flipping houses.
In 2004, Banks bought a Beverly Hills residence worth around $3 million, which she sold for $6.33 million in 2016 (even though she listed it for much more).
Banks currently owns a duplex in Manhattan, her Battery Park City home, that spreads across 7,000 square feet, which she bought for $10.13 million in 2009. For a while there, she has been renting this property for $50,000 a month.
She put the home on the market a few years back, but it most likely hasn’t sold yet. Her asking price is $17.5 million.
In addition to this purchase, Banks reportedly has bought and sold several properties in the Pacific Palisades neighborhood. The first was a residence she sold with an $8.9 million profit, while the latter was sold with a $4 million profit.
What Can We Learn from Tyra Banks’ Story?
Tyra Banks’s journey from a young girl teased for her looks to a world-famous supermodel, successful TV personality, and entrepreneur is a testament to her talent, resilience, and determination.
Despite initial rejections from modeling agencies, Banks rose to prominence in the 1990s, working with top designers and making history as the first African-American woman on the covers of famous magazines.
Her transition from modeling to television was marked by her creation – and hosting of “America’s Next Top Model” and “The Tyra Banks Show,” the latter earning her two Daytime Emmy Awards for Outstanding Talk Show Informatives.
These appearances significantly contributed to her net worth but also cemented her name in the entertainment industry.
Tyra Banks is proof that one can be successful in different domains. She has done so by embracing versatility and leveraging her talents across industries she was interested in. She founded a cosmetics company and a production company, and even authored three books, teaching us the importance of pursuing our interests and continuing to grow.
She is also teaching us one very important lesson here – that diversifying your income streams can lead not only to better financial security but also to major financial success.