Taylor Swift is officially a billionaire, according to new reports.
The new announcement of the pop star’s wealth arose yesterday (October 26), with a new report from Bloomberg that broke down her estimated net worth.
It comes as little surprise that Swift has broken into billionaire territory – with her string of new albums, live shows and recent concert film making countless headlines over the past year and breaking various records in the process.
The publication describes Swift’s brand as “essentially a multinational conglomerate with the world’s most devoted customer base”, and reports her total net worth as being $1.1bn (£907m).
No doubt, much of this fortune will come from the singer-songwriter’s string of re-recorded albums which she has made in a bid to regain control of her master recordings. The most recent of which was the re-release of her 2014 album ‘1989’, which arrived today (October 27) and is predicted to become one of the bestselling records of the year (via The Independent).
Another huge source of revenue for the singer is her record-breaking run of live shows as part of her ongoing ‘Eras’ tour.
The stadium-filling gigs – which kicked off in March and are set to run until late next year – are set to become the most lucrative in music history. This comes as the live dates are projected to raise a total of $5.7 billion, which would be enough to send everybody in the US $20.
The record-breaking tour is having a significant impact on the US economy too, with ticket sales, merchandising and travel all contributing to the overall total. The software company QuestionPro calculated that each show raises around $93million (£76.7m) for the local economy.
The impact of the tour was apparent from the beginning too, as when tickets were first made available last November, Ticketmaster was forced to delay the general sale due to “extraordinarily high demand”.
The estimated wealth of the singer would also have been aided thanks to the new ‘Eras’ tour concert film, which arrived in cinemas globally earlier this month. According to an update shared on Monday (October 23), the film had taken $164.8million following its release on October 12 – making it a box office rival for Martin Scorsese’s Killers Of The Flower Moon.
Bloomberg also reports that Swift is one of the few performers to achieve billionaire status from music and performance alone – without bringing in wealth from launching products such as alcohol, makeup or clothing lines.
It also breaks her net worth down into various categories. These include her music catalogue from 2019 onwards, including new albums and her re-recorded Taylor’s Versions (estimated at $400m/£330m) and her ticket sales and merchandise during live shows (predicted to be $370m/£305m).
Other sources of revenue include her streams ($120m/£99m), her five personal properties ($110m/£90m), and royalties from music sales ($80m/£66m).
Taylor Swift’s ‘Eras’ tour is set to continue with international tour dates next month, including various shows around the UK. You can find any remaining tickets here.