Taylor Swift Is Now A Billionaire, Bloomberg Says
Taylor Swift has another accolade to add to her lengthy resume this year: America’s favorite pop star is now a billionaire, according to a Bloomberg analysis.
The outlet, which runs the Bloomberg Billionaires Index, said Swift’s total net worth is now at $1.1 billion, thanks to a record-breaking Eras tour that helped boost the US economy this summer.
Bloomberg said Swift is one of the few entertainers to reach that status based on just her music and performance.
Chris Leyden, director of growth marketing at SeatGeek, previously told CNN that “Taylor Swift’s ‘Eras’ tour is rewriting the playbook of entertainment economics.”
“She’s not just a performer — she’s an economic phenomenon,” Leyden said.
Swift has dominated not only Super Bowl-sized arenas, but local movie theaters as well. In its opening weekend, the pop singer’s concert film, “Taylor Swift: The Eras Tour,” raked in about $96 million in the box office in the United States and Canada, making it the highest-groatssing concert film domestically for an opening weekend, according to AMC.
The Eras tour could gross $2.2 billion in North American ticket sales alone, according to August survey data from research firm QuestionPro provided to CNN exclusively. That unprecedented total represents primary ticket sales for the US shows that Swift just concluded in Los Angeles, plus a second North American leg coming next year. That would make it the highest-grossing tour ever.
It brought a boost to the economy in its many stops through North American cities – the final six nights of Taylor Swift’s Eras tour in Los Angeles were estimated to bring $320 million to the city, according to the California Center for Jobs and the Economy.
She’s even putting the NFL on the map – at least for those who already weren’t tuning in to Sunday Night Football. News that the star was rumored to be attending an Oct. 1 game to see Kansas City Chiefs star Travis Kelce has sent ticket prices soaring more than 40% — from $83 to $119 – according to TickPick, an online marketplace.
The singer became a cultural phenomenon, adding to her economic influence. In cities where Swift performed, ridership on public transit spiked and hotel occupancy skyrocketed. Santa Clara, the tech-rich city located in Northern California, briefly became “Swiftie Clara.” In Seattle, dancing Swifties caused seismic activity that one seismologist said was equal to a 2.3 magnitude earthquake.
The star is adding another album rerelease on Friday – “1989 (Taylor’s Version),” which earned a total of 10 Grammy nominations at the time it was released.
Swift announced in 2019 that she planned 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.”
Swift can now join the ranks of Rihanna, who became a billionaire in 2021, according to Forbes. Though it’s been years since Rihanna dropped an album, she spent that time building her business empire through her Fenty Beauty makeup line and her Savage x Fenty lingerie line. Jay Z and Beyoncé reached the milestone in 2017. Besides music, the pair had their hands in a variety of business ventures.
Source: CNN
