Aside from his booming music biz, Maluma has ventured into other industries outside of his home base. The artist currently has important investments in food, hospitality, startups, fashion and horse breeding.

According to Forbes magazine, his company, Royalty, is expected to close the year with $80 million in sales, giving the 28-year-old star a spot on the publication's "30 under 30" list. 

"I'm lucky that what I'm passionate about is what makes me money. It happens to me with music, art, fashion, cars. They are passions that end up producing legacies," he said during his interview with Forbes. 

The Colombian's most recent business was the digital hamburger restaurant, Dembow, which is managed 100% through Rappi in 17 cities in Colombia, Brazil, Peru and Mexico, with an eagerness to expand to other countries.

"Forbes Colombia presents its annual list of 50 Colombians who are making a difference with their work in art, music, painting, film, among others," announced the magazine along with the cover reveal featuring Maluma, who they described as "a reference of reggaeton worldwide and who is now also forging a successful career as an entrepreneur." 

Other Colombians on the Forbes list include Shakira, J Balvin, Sofía Vergara, Fernando Botero, Karol G, Juanes, Carlos Vives, Totó la Momposina, Silvia Tcherassi, Sebastián Yatra, Harry Sasson, Óscar Murillo, Feid (Salomón Villada), Laura Mora, and Camilo, among others.