Taylor Swift, the Grammy award-winning singer, has officially become a billionaire, making her the first singer to enter the billionaire’s club entirely through music, according to a recent Bloomberg article.
The Pop sensation achieved it again, becoming the first musician to become a billionaire solely from music profits. The singer reached the landmark as a result of the tremendous success of her ‘Eras Tour,’ its concert DVD, the value of her new songs, and the re-release of her earlier studio albums.
Swift is mentioned in Bloomberg’s study with fellow billionaire singers Rihanna and Jay-Z. According to the study, an in-depth examination of Swift’s accounts reveals that she earned her ten-figure income “almost entirely from her music.”
It should be remembered that Rihanna became a billionaire through earnings generated by her beauty and clothing companies. Jay-Z, on the other hand, made his riches from a variety of investments, businesses, and other ventures unrelated to the music industry.
Swift now has an estimated net worth of $1.1 billion, according to Bloomberg.
This figure was derived from an examination of her music catalog, merchandise sales, tour earnings, and other factors. Since 2019, she has reportedly earned $400 million from song releases. She also earned $370 million from ticket and merchandise sales.
Her other sources of income include $120 million in revenues from Spotify and YouTube, as well as $80 million in royalties from her song sales. Her five personal properties are currently worth $110 million of the remaining $110 million.
In addition, Taylor’s ticket sales from her 53 North American shows totaled more than $2.2 billion.
Bloomberg Economics estimates that the tour has contributed $4.3 billion to the country’s GDP.
Prior to the tour’s start in June, Forbes listed Taylor Swift as one of the richest self-made women in America, with a net worth of $740 million.
Swift’s fame and money are only set to grow as she embarks on a tour of South America at the end of this year, according to the article. In 2024, she will also perform in Asia, Australia, and Europe.