Taylor Swift officially has a new title — billionaire — after her sold-out “The Eras Tour” shows throughout America propelled her net worth past the $1 billion mark, a new report suggests.
The U.S. leg of the 33-year-old singer’s tour, highlighting her 10 albums, has been in the headlines for months after fans hoping to nab tickets shut down Ticketmaster and then set records for attendance, according to a Bloomberg News analysis.
The “Shake It Off” hitmaker has now become one of the few singers who managed to get into the billionaire club based on solely her music and performing, the report noted.
Taylor Swift’s record-breaking Eras Tour catapulted her net worth to $1.1 billion.
“Swift Inc. is essentially a multinational conglomerate with the world’s most devoted customer base,” says Bloomberg.https://t.co/t6wpYp7DKf
— Variety (@Variety) October 27, 2023
The 53-stop concert series in the U.S., which launched earlier this year, is estimated to have added $4.3 billion to the country’s gross domestic product, according to Bloomberg Economics.
“In addition to being a generational talent, Taylor Swift is a great economist,” Carolyn Sloane, a labor economist at the University of Chicago, said. “Taylor has great ideas, is able to scale her ideas and seems to be pretty risk-seeking.”
The report noted that Bloomberg’s analysis was based only on assets and earnings that could be confirmed or traced from publicly disclosed figures, taking into account the following: the estimated value of her music catalog and five homes, and earnings from streaming deals, music sales, concert tickets, and merchandise.
Swift’s influence in music is now also being felt in Hollywood after she decided to bypass movie studios by self-financing “The Eras Tour” concert film with $15 million.
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The movie version of her concert has led the box office, surging well past the $100 million mark, making history as the first concert film ever to cross that mark domestically. Her tour film is also the first independently released film in a decade to make that much, not adjusted for inflation, according to AMC.
The movie, featuring nearly three hours worth of songs from her sold-out concerts, earned $31 million domestically its second weekend out, bringing the two-weekend total to $132 million, according to The Hollywood Reporter.
“Taylor Swift: The Eras Tour” technically had already become the highest-grossing concert film in history thanks to fans worldwide grabbing up tickets before it even arrived in theaters, selling more than $100 million in advance ticket sales, Variety noted.
Related: Taylor Swift Announces ‘Eras Tour’ Concert Movie Coming To Theaters