02 April 2024 , 18:43
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Pop titan has managed to accumulate her staggering wealth mostly through her music endeavours
Taylor Swift has officially achieved billionaire status, according to a new list of the world’s wealthiest people.
The US pop megastar appears on the Forbes World’s Billionaires List for the first time with an estimated net worth of $1.1bn (£877m) following the global success of her Eras Tour.
Swift, who is preparing to release her 11th studio album, The Tortured Poets Department, is one of the rare musicians to have accumulated her wealth predominantly through her music rather than through endorsements or ventures in fashion, alcohol and makeup.
Her wealth has been achieved thanks to her string of record-breaking albums, including her re-recorded “Taylor’s Versions”, which she began releasing after a row with music manager Scooter Braun and her former label, Big Machine Records, over the rights to her masters
As Bloomberg observed last year, her brand is “essentially a multinational conglomerate with the world’s most devoted customer base”.
In October, it was estimated that Swift’s net worth could be broken down into the following: her catalogue of music released since 2019, including new albums and her re-recorded Taylor’s Versions, estimated to be worth $400m (£330m), with concerts, their ticket sales and merchandise at an estimated $370m (£305m).
She is thought to have made up the remainder of the money on streaming platforms ($120m or £99m), her five personal properties ($110m or £90m), and royalties from music sales ($80m or £66m).
Swift’s influence, however, extends beyond music. Her ongoing Eras tour, it has been estimated, added $4.3bn (£3.5bn) to the US’s gross domestic product over its 53 dates. The average ticket for the show cost $254 (£209), with many selling for higher sums on secondary ticketing sites.
Meanwhile, her presence at American football games to cheer on her boyfriend, Kansas City Chiefs tight end Travis Kelce has been credited with boosting NFL viewing figures and sparking a surge in sales of Chiefs merchandise.
Forbes said there are a record 2,781 billionaires in 2024, up 141 from last year. The global elite are also richer than ever, with a collective wealth of around $14.2 trillion (£11.3 trillion).