A new Era: Taylor Swift joins the billionaire club on back of latest tour

Swift is one of the few entertainers to reach billionaire status based exclusively on her music and live performances, according to analysis

Taylor Swift is now worth $1.1bn, with her wealth surging due to the enormous success of her record-breaking Eras tour, which sold out across the United States across 2023. Picture: AP/Chris Pizzello

Taylor Swift has another accolade to add to her mantle: the singer is now a billionaire.

According to an analysis by Bloomberg, the American pop star is now worth $1.1bn (€1.04bn), with her wealth surging due to the enormous success of her record-breaking Eras tour, which sold out across the United States across 2023.

The tour continues in 2024, including Irish dates at Dublin's Aviva next June.

Bloomberg said Swift is one of the few entertainers to reach billionaire status based exclusively on her music and live performances, with the majority of her peers achieving billionaire status due to external business interests, such as beauty brands or affiliation with technology companies. 

The Eras tour could gross $2.2bn in North American ticket sales alone and a filmed version of the show has also proven a huge box office hit in cinemas in North America and Europe.

The concert series is also a massive local economic boost, according to Bloomberg, which estimates that her 53 US dates added $4.3bn to the country's gross domestic product.

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.

Boost to economy

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 $320m to the city, according to the California Center for Jobs and the Economy.

Between ticket sales and merchandise, Bloomberg estimates Swift's current tour has already grossed $225m. That is based on 57 North American shows. She has a further 89 concerts scheduled.

On Friday, Swift released her latest album — a re-release of her nine-year-old record 1989 — which is tipped to be one of the biggest sellers of the year. 

It is the latest in her series of re-records, which was prompted by a dispute over the ownership of her masters with her label. Four of her albums have now gotten the 'Taylor's Version' treatment which, Bloomberg estimates, has propelled her earnings by hundreds of millions of dollars, while she is also one of the biggest earners when it comes to streams on sites like Spotify and YouTube.

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.