According to a Bloomberg report, Taylor Swift, a Grammy award winning singer, has officially become a billionaire solely through her music.
She is the first singer to enter the billionaire’s club in this manner.
Her incredible achievements, such as the success of her ‘Eras Tour’, concert film, the value of her new music, and the re-release of her earlier studio albums, have led her to this milestone.
Bloomberg’s analysis reveals that the majority of Swift’s fortune is derived from her music, setting her apart from fellow billionaire artists like Rihanna and Jay-Z.
Rihanna’s billionaire status was mainly achieved through her beauty and clothing lines, whereas Jay-Z’s fortune comes from various investments, businesses, and different ventures unrelated to music.
According to Bloomberg, Swift now has an estimated net worth of a whopping $1.1 billion.
This number came from an analysis of her music catalogue, merch sales, tour revenue and more. She reportedly made $400 million from music releases since 2019. She also earned an impressive $370 million from ticket and merchandise sales.
Her other sources of income include $120 million from Spotify and YouTube earnings and an additional $80 million from royalties from her music sales. The remaining $110 million is the current value of her five personal properties.
Also, Taylor’s ticket sales from her 53 North American concerts generated ticket sales of over $2.2 billion.
Bloomberg Economics estimates that in total, the tour has added $4.3 billion to the country’s gross domestic product.
Prior to the tour that kicked off in June, Forbes featured Taylor Swift on their list of self-made women in America, with a net worth of $740 million.
According to the report, Swift’s fame and fortune is only expected to grow as she takes her tour to South America at the end of this year. She is also scheduled to perform in Asia, Australia and Europe in 2024.