Taylor Swift entered the billionaire ranks thanks to earning hundreds of millions of dollars from selling music copyrights and going on tour.
On October 26, Bloomberg financial company announced that Taylor Swift currently has a net worth of about 1.1 billion USD. The information did not come as a surprise because since the beginning of the year, she was predicted to become a billionaire after the first leg of her global tour ended.
Bloomberg ‘s analysis provides many different categories of singer assets, including album release revenue, online music streaming, and tour ticket sales. The company said it arrived at its figures conservatively, based on “assets and income that can be confirmed or traced from publicly available figures”.
Tayor Swift’s musical fortune is currently worth about 400 million USD. However, the expert noted that the future royalty multiple makes it about $1 billion, higher than other artists. In September, Katy Perry sold music rights for $225 million.
Taylor Swift at the Grammy Awards in February. Photo: Reuters
In addition, from 2019, Taylor Swift began re-recording her old albums to fully own the recordings, after many years of rights disputes with Big Machine company. Re-recordings are identified by a note (Taylor’s Version) on all album and song titles, to distinguish them from previous recordings. She thus fully profited from the exploitation of Red, Speak Now and the new 1989 versions along with three recent albums Evermore, Folklore, Midnights .
The singer collected 370 million USD from concert ticket sales and related accessories. She has about 120 million USD thanks to streaming music on online platforms.
According to experts, despite having a high net worth for many years, The Eras Tour has raised Taylor Swift to a new level. They estimate she earned $190 million (after taxes) after just the first leg in North America. The singer also received about 35 million USD for the concert film, released in theaters on October 13.
Swift owns many different properties, including a mansion in Beverly Hills, Rhode Island, New York, with a total value of about 125 million USD. In addition, she has a private jet worth 10 million USD.
Chris Leyden, director of growth marketing at ticketing platform SeatGeek, says Taylor Swift is an “economic phenomenon”. The Eras Tour contributed $4.3 billion to the US gross domestic product (GDP) in 53 days. The average concert ticket price is 25 USD, but is often sold several times higher on the “black market”. Taylor is currently resting before taking the tour to Australia, Asia, Europe and returning to perform in North America next year.
Bloomberg experts commented: “Swift has evolved from a teenage country pop phenomenon into a world famous person, while maintaining the image of a serious girl with a guitar, despite the industry behind her. after her”. Her father – Mr. Scott Swift – used to be a famous stock broker at Merrill Lynch – the third largest investment bank in the US, then became the bank’s president. He currently operates 10 companies affiliated with his daughter, managing many of her assets.
Taylor Swift is an American singer-songwriter who rose to fame with country music in 2006. After 10 albums, Swift received 12 Grammy awards and 29 Billboard awards. Besides performing
