Taylor Swift reaches billionaire status amid hugely successful Eras tour

Taylor Swift has joined the ranks of the few musical artists who are billionaires. Photo / Getty Images

Taylor Swift has officially joined the ranks of the world’s billionaires amid her hugely successful Eras tour, according to Bloomberg.

On the Bloomberg Billionaires Index this week, Swift’s net worth was estimated to be US$1.1 billion (NZ$1.8 billion).

The pop star is now one of just a few musical artists to reach billionaire status based largely on her success as a songwriter and performer.

Taylor Swift has joined the ranks of the few musical artists who are billionaires. Photo / Getty Images

Fellow artist Rihanna became a billionaire in 2021 after the success of her beauty brand Fenty, reports Forbes. Beyoncé and Jay-Z hit the milestone in 2017, but that was also due partly to their business ventures.

Director of growth marketing at SeatGeek Chris Leyden described Swift to CNN as “not just a performer - she’s an economic phenomenon”.

Swift’s Eras tour is tipped to become the highest-grossing tour of all time, expected to bring in US$2.2 billion ($3.7 billion) from ticket sales in North America alone.

The record-breaking tour has reportedly even given America’s economy a boost, with Bloomberg reporting that her 53 concerts in the state throughout 2023 are thought to have added US$4.3 billion ($7.4 billion) to the country’s GDP.

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As for her two-week stop in Australia next year - to which she’s added extra dates due to huge demand, including from her Kiwi fans - she’s expected to earn around $38 million, or $5.4m per show.

The Eras Tour has also been captured in a concert film, which landed in theatres earlier this month and earned around US$96 million ($165 million) in the States and Canada. According to AMC, it’s the highest-grossing concert film for an opening weekend.

Swift’s decades-long career has proven her status as a prolific songwriter, but her decision to re-record her first six albums is arguably her most lucrative career move yet.

Bloomberg has estimated that her total wealth comes from US$400 million from music released since 2019, when she reclaimed her masters, US$370 million from merchandise and ticket sales, US$120 million from Spotify and YouTube streams, US$110 million from her five properties and US $80 million in music royalties royalties ($688 million, $637 million, $206 million, $189 million and $137 million, respectively).

It comes as Swift’s latest album re-release, 1989 (Taylor’s Version) landed on Friday.

The original album marks her first foray into pop music after making her name in country music, and landed 10 Grammy nominations when it first came out in 2014.