Taylor Swift Reaches Another Noteworthy Milestone — Billionaire Status

The Gist:

• Taylor Swift's net worth soared to over a billion dollars in October 2023, thanks to the substantial revenue generated by her Eras Tour.

• Unlike most recording artists, Taylor has built a huge fortune solely from her music.
• Taylor's latest album, 1989 (Taylor's Version), dropped on Oct. 27, 2023, and will only further propel her net worth.

Grammy-winning musical artist Taylor Swift is seemingly always winning. After several years of physically hiding from the paparazzi and celebrity naysayers, she returned triumphantly to claim her rightful place as a full-blown pop culture phenomenon. Following the 2019 sale of her musical catalog from Big Machine Records to Scooter Braun, Taylor declared she would re-record all her albums to take back ownership of her music.

Taylor's re-recordings break Spotify records globally and reportedly quadrupled sales of the original versions, but what is Taylor Swift's net worth now, especially given her Eras Tour domination?

As of 2023, Taylor is among the wealthiest self-made women in the world, and second in the music industry (just behind Rihanna). In July 2023, Forbes reported that the singer-songwriter counted $740 million among her personal fortune. But, in October 2023, Bloomberg adjusted Taylor's net worth to reflect the earnings she collected so far from her Eras Tour, and she's now worth $1.1 billion. We'll hold while you pick your jaw up off the floor.

Her brand partnerships with the likes of Capital One are part of the reason the star's net worth will only continue to grow. Taylor's bank account is also being fueled by the massive success of her Eras Tour, with the buzzy shows having already raked in more than $700 million, including ticket sales, and of course, merch. And let's not forget about the money she'll make from her album, 1989 (Taylor's Version), and film Taylor Swift: The Eras Tour, which hit theaters on Oct. 13, 2023.

To give you an even more in-depth look at Taylor's net worth, here's how Bloomberg breaks down the singer's earnings: $400 million from the music she’s released since 2019, $370 million in ticket sales and merch, $120 million from Spotify and YouTube earnings, $100 million from real estate, and $80 million in royalties collected from music sales.

With such an impressive get from her Eras Tour, one has to wonder how much the star actually pockets from each of the dates on her sold-out tour.

It's been reported that the top-selling artist earns in the neighborhood of $9 million per show, but that wouldn't be her take-home pay, given how many people are involved behind the scenes. Still, um, wow.

Meanwhile, some estimates even say that Taylor makes an astounding $1 million every day of her life.

But the "Mean" singer isn't just helping her own bottom line with the tour. Incredibly, the shows are so popular (and expensive), that the Eras Tour has even helped to pump up local economies.

Per the Federal Reserve's July 2023 update, “Despite the slowing recovery in tourism in the region overall, one contact highlighted that May was the strongest month for hotel revenue in Philadelphia since the onset of the pandemic, in large part due to an influx of guests for the Taylor Swift concerts in the city,”

The same can be said for other cities, such as Cincinnati and Chicago, with president/CEO of tourism agency Visit Cincinnati Julie Calvert stating, “Taylor Swift is a force to be reckoned with. The economic impact Swift creates is staggering, as fans travel from far and wide to attend her concerts, filling hotels, restaurants, and local attractions. Swift’s influence on tourism is a testament to her ability to captivate audiences and drive economic growth.”

Her "Taylor's Version" re-recordings also help pump up that bottom line, with "Speak Now" being the most recent example.

Daniel Weisman, veteran artist manager and Vice President of Bernstein Private Wealth Management, praised Taylor's ingenuity: "By creating this new body of master recordings, she essentially owns the entire copyright ecosystem of her music. She can exploit that however she wants without getting any permission from anyone else."

In an interview on Late Night with Seth Meyers, Taylor discussed how involved she is with her fans and says they let her know "which songs should have been singles ... which songs did not get videos and should have gotten videos. So I'm just like you know what, I'm listening, and I'm making the videos, and I'm doing the things."