US singer and songwriter Taylor Swift has a current net worth of $1.1 billion after the success of her Eras world tour and its accompanying film, according to Bloomberg.
The success of the Eras tour – a Super Bowl-sized event spanning numerous cities that shattered records and sparked ticket frenzies – has propelled the 33-year-old pop star’s net worth past $1 billion, according to a Bloomberg News analysis on Friday.
Swift is one of the few entertainers to reach that status based on just her music and performance, Bloomberg said.
She now joins performers including Rihanna, Jay-Z and Beyonce in the coveted billionaires club.
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The calculation took into account the estimated value of her music catalogue and five homes, and earnings from streaming deals, music sales, concert tickets and merchandise.
This includes an estimated $400 million from her music released since 2019, $370 million from ticket sales and merchandise, $110 million from her five personal properties, $120 million earned from Spotify and YouTube, and $80 million from music sales royalties, according to the report.
The Shake It Off singer’s 53 US concerts this year added $4.3 billion to the country’s gross domestic product, according to estimates from Bloomberg Economics.
The 146-date Eras Tour, which is expected to be the highest-grossing tour of all time when it closes next year, is projected to have a $5 billion economic impact on the US, according to software company QuestionPro. That would produce a gross domestic product larger than 50 countries.
Swift could earn as much as $4.1 billion from the tour, calculated on the standard artist’s share of 85 per cent, according to The Washington Post.
The 12-time Grammy winner makes between $10 million and $13 million per show, according to Forbes.
The Eras tour is Swift’s first since 2018 after she cancelled her planned Lover Fest tour in 2021 due to the Covid-19 pandemic.
Since then, Swift has released four new albums and re-recorded three others as “(Taylor's Version)”.
Eras racked up more than $700 million in ticket sales for shows performed to date, according to Bloomberg estimates.
Swift is also dominating movie theatres. In its opening weekend, the pop singer’s concert film, Taylor Swift: The Eras Tour, grossed an estimated $126 million to $130 million in global ticket sales, according to cinema chain AMC.
It is the highest-grossing concert film in US history.
Swift took the unusual step of making a direct deal with AMC, the world’s biggest theatre operator, instead of teaming up with a Hollywood studio to distribute her concert film, The Wall Street Journal reported.
Swift is now one of the world’s richest self-made women. The pop star officially has more No 1 albums than any woman in history. Previously, Barbra Streisand held the record, with 11 No 1 albums.
In 2019, Swift announced that she was planning to re-record her first six studio albums after her former label sold her master recordings. She has since released Taylor’s Version albums for Red, Speak Now and Fearless.
She pulled all her music from online music streaming service Spotify in 2014 in protest against what she called “unfair compensation” from the streamer. She then renegotiated her rates to rejoin Spotify after three years.
In 2018, she left her long-time record label Big Machine to go independent and negotiated a new contract with Universal Music Group that allows her to take a larger share of the royalties, according to Bloomberg.
Watch: Taylor Swift pulls music from Spotify
Swift also owns two Dassault private jets, Forbes said.
Her real estate portfolio includes four properties in New York City, a beach house in Rhode Island, properties in Nashville, Tennessee, a seven-bedroom home in Hyannis Port, Massachusetts, and an estate in Beverly Hills.
Swift has also endorsed companies such as Coca-Cola, CoverGirl, Target, AT&T and Sony Electronics.
