In the recent spotlight, global sensation Shakira finds herself entangled in a tax fraud case in Spain for the second time in just a few years. As Spanish prosecutors pursue the artist for over $20 million across both cases, her net worth of $300 million comes under scrutiny. Shakira first was accused of evading tax of €14.5M by Spanish prosecutors for her stay in the country between 2012 and 2014. The superstar, after initially denying it, has finally accepted the allegations and has agreed to pay a decent sum as compensation.
Shakira’s remarkable net worth in 2023
As of 2023, Shakira boasts a staggering net worth of $300 million, a testament to her over two-decade-long career filled with chart-topping hits in both Spanish and English. From iconic songs like La Tortura to She Wolf, along with the unforgettable Whenever, Wherever, her musical prowess has earned her accolades, including Grammy awards. The global sensation to date has managed to sell above 125 million sales, with each album bringing at least $2 million in her pocket.
Shakira’s ongoing tax fraud cases
The legal saga unfolds as Spanish prosecutors charge Shakira with fraud related to her 2018 income tax filings, amounting to over $7.1 million. Allegations include the use of an offshore company in a tax haven, adding complexity to the case. This development comes in the wake of a previous tax fraud case where authorities claim she owed $15.7 million (€14.5M) for taxes unpaid between 2012 and 2014.
The crux of the matter lies in Shakira’s residency status during these years, with authorities asserting she primarily lived in Spain despite her official residence being listed as the Bahamas and according to Spanish law, anyone who has stayed in Spain for over 6 months is bound to their tax system.
Shakira confesses to the allegations made against her concerning the tax fraud case
Amid mounting legal pressure, as per Reuters, Shakira recently admitted to the charges in a settlement to avoid a trial in Barcelona. Accepting fines totaling over 7.3 million euros and even agreeing to pay an additional fine of 438,000 euros to evade a potential three-year prison sentence, she expressed personal reasons for reaching this deal. Shakira emphasized that the decision prioritizes the important years of her life over a prolonged legal battle.
Her official statement released by her Spanish communication agency read as follows, “This decision to reach a deal responds to personal, emotional and sentimental reasons that have nothing to do with legal (reasons). I have reached the conclusion that winning is not a victory if the price is that they rob you of so many years of your life.”
Shakira’s journey, marked by musical triumphs and astonishing net worth came in hand with her massive tax, which she tried to evade, inviting and accepting some serious legal accusations from Spanish prosecutors.