Taylor Swift has officially achieved billionaire status, 17 years after launching her career as music’s biggest superstar, it was reported Thursday.
The 33-year-old “Look What You Made Me Do” singer has proven that her lyrics carry some weight, as Bloomberg reported that Swift, 33, now has a net worth of $1.1 billion and is part of the coveted ten-figure net worth clubs is.
The success of the multi-Grammy Award-winning songwriter’s Eras Tour – which is on track to become the highest-grossing tour in history – is seen as the reason for the rapid increase in her net worth.
The achievement is particularly monumental as she is among the few who have achieved this milestone “through music and performances alone.”
But is it the success of her music alone that cemented Taylor’s ten-figure net worth, or is it the culmination of over a decade of business know-how?
Billionaire status: Taylor Swift (pictured: in October 2023) has officially achieved billionaire status – 17 years after beginning her career as music’s biggest superstar
Record-breaking: The success of the multi-Grammy Award-winning songwriter’s Eras Tour – which is on track to become the highest-grossing tour in history – is seen as the reason for the rapid increase in her net worth
Finally time for 1989: Taylor Swift finally re-released her hit album 1989 (Taylor’s Version) from 2014 on Thursday, sending fans into a frenzy
Selling original albums
Swift made her millions primarily through a successful music career, which she began at the age of 16 with her debut album of the same name.
Since then, her ten studio albums have sold millions of copies both physically and digitally.
In 2020, her albums “Evermore” and “Folklore” accounted for the majority of her $23.8 million in sales, with Billboard calculating that the singer took home 46% of royalties from sales and streaming as she was the Master belonged.
The publishing rights Swift owns for her previous albums are worth an estimated $200 million, according to Forbes.
According to Universal Music Group, Taylor’s latest album, “Midnights,” sold 6 million album equivalents worldwide in the first two months of its release. This makes Swift the only artist to have five albums sell more than 1 million units in the week of release.
Success from the start: Swift earned her millions primarily through a successful music career: her 10 studio albums have sold millions of copies both physically and digitally
Let the numbers do the talking: The publishing rights Swift owns for her previous albums are worth an estimated $200 million
Midnight Madness: Taylor’s latest album, Midnights, sold 6 million album equivalents worldwide in the first two months of its release
Sales boom resumes
The Lover hitmaker has been busy re-recording her first six albums following a dispute with her old label Big Machine Records.
She has so far released re-recordings of Fearless (2008), Red (2012), Speak Now (2010) and now her beloved 2014 album titled 1989, which dropped on Thursday night and sent fans into a frenzy.
In 2019, Taylor took to her Tumblr to reveal that “thug” Scooter Braun – Justin Bieber’s manager and former manager of Ariana Grande and Demi Lovato – had taken over the label she previously had at Big Machine Records.
His company Ithaca Holdings LLC purchased Big Machine Label Group for a reported $300 million. The deal included the master recordings of all six of her albums – all of her previous music and her legacy.
In her Tumblr post, Taylor criticized Scooter as well as Big Machine Label Group CEO Scott Borchetta, revealing that she was not offered the opportunity to purchase her own masters and that the former had bullied her for years.
Braun subsequently sold Swift’s Masters to private equity firm Shamrock Holdings in 2020 for a reported $300 million.
An angry Swift reacted on Twitter at the time as “my music was sold for the second time without my knowledge.”
She claimed to have received a letter from the company that said: “Scooter Braun had requested that they not contact me or my team or the deal would fall through.”
Taylor also claimed that as part of the deal, Scooter Braun would benefit from my old music catalog for many years to come.
Shamrock Holdings has since sold a minority stake to RidgeLake Partners.
Fan hype: Customers line up at Plaid Room Records to purchase the re-recorded version of Taylor Swift’s re-recorded album 1989 on October 27th
Dispute: The Lover hitmaker has been busy re-recording her first six albums following a dispute with her old label Big Machine Records
It pays off: Taylor is believed to rake in £6.7million in streaming royalties every month after re-recording some of her previous albums
Music streaming royalties
Taylor is believed to rake in £6.7million in streaming royalties every month after re-recording some of her previous albums.
The Shake It Off singer is said to have already earned more than £5,000,000 in estimated royalties following the release of Speak Now (Taylor’s Version) in June.
According to the latest reports, their newly recorded albums have a total streaming count of 6,872,886,786.
The singer-songwriter, who has the most Billboard Hot 100 entries of any female artist worldwide, is estimated to earn £6,738,785 a month in royalties from her three newly recorded albums alone.
Streaming royalties: The singer-songwriter earns an estimated £6,738,785 per month in royalties from her three newly recorded albums alone
Dominating Billboard: Taylor Swift is breaking records as she has the most Billboard Hot 100 entries of any female artist in the world
Sold out concerts and tours
Bloomberg reported that the 53 concerts Swift performed in the United States this year “added $4.3 billion to the country’s gross domestic product.”
This is because the grand tour brought extensive travel, ticket sales and merchandising opportunities for its legions of fans.
The outlet notes that its analysis was “conservative” as it was based solely on publicly known numbers like its real estate portfolio, streaming deals, etc.
Swift kicked off her Eras tour in the United States in March, following a now-infamous Ticketmaster debacle last November that left many Swifties running out of tickets and purchasing them from resellers instead.
The site crashed and fans were forced out of virtual queues.
Swift spoke out amid the chaos, telling her devout fanbase that she was just as “mad” as everyone else.
At first glance, ticket prices ranged from $49 to $499 – but resale sites like StubHub and SeatGeek were paying thousands of dollars.
SeatGeek told US News in August that the average price for an Eras Tour resale ticket was $1,619.
According to the Washington Post, the tour is expected to earn the star an incredible $4.1 billion – the most any artist has ever earned from a single tour in history.
Historic: The Eras tour is expected to earn the star a staggering $4.1 billion – the most any artist has ever earned from a single tour in history (Image: in 2023)
Tour Queen: Swift performs on stage during Taylor Swift The Eras Tour at Ford Field on June 9, 2023 in Detroit, Michigan
Bracelet Crazy: Fearless bracelets will be on display at The Little Words Project pop-up boutique in October 2023, following the viral beaded bracelet trend started by Taylor during her Eras tour
Blockbuster Eras Tour Film
Taylor’s already huge paycheck is also set to increase as the film “Eras Tour” hits theaters on October 13th after grossing over $80 million in advance sales alone.
So far, it has grossed a whopping $130 million worldwide.
The film was shot during one of their six sold-out Eras Tour shows at SoFi Stadium in Los Angeles in August.
The film was a major coup for AMC. After she and her family became dissatisfied with the demands of the distributors she worked with, Taylor took the unusual step of negotiating directly with the theater chain to act as her film’s distributor – cutting out the usual middleman.
AMC has also worked out deals with competing theater chains to allow them to show the film as well.
The film also doesn’t qualify for AMC’s subscription program and tickets are more expensive than usual, meaning the theater chain – and Taylor – will make even more money than usual.
Film success: Taylor’s Eras tour film has grossed a whopping $130 million worldwide – filmed during one of her six sold-out shows at SoFi Stadium in Los Angeles (Image: in October 2023)
Expansive real estate empire
According to The Wall Street Journal, Swift also has a real estate portfolio worth more than $150 million, including luxury beachfront villas and $45 million worth of properties in Tribeca, New York City.
Among other things, Swift owns several units in a luxury condo building in Nashville, Tennessee. She first bought a penthouse in the Adelicia building for $1.99 million when she was 19 years old.
The Bad Blood singer also owns an estate in Forest Hills, Tennessee – worth an estimated $8 million.
Taylor also owns a seven-bedroom, nine-bathroom beachfront property in Watch Hill, Rhode Island, which she reportedly purchased through an LLC in 2013 for approximately $17.75 million.
The nearly 12,000-square-foot home is now worth about $30 million.
In 2015, the pop megastar purchased the historic Goldwyn Mansion in Beverly Hills, California for $25 million.
The property was built by Samuel Goldwyn, a Hollywood producer who was part of the famous Metro-Goldwyn-Mayer film studio.
Swift restored the 1930s mansion to its former glory and received permission to have the house designated a historic landmark.
Swift Street: Taylor Swift’s real estate on Franklin Street in Tribeca, New York City, as well as her ownership of a property three doors down at 155 Franklin, turning the street into a Swift mini-city
Luxury Kitchen: An interior view of a kitchen in singer Taylor Swift’s New York townhouse – where the monthly rent is $40,000, or almost half a million dollars a year
Lucrative advertising contracts
According to Investopedia, Taylor has partnered with major brands throughout her career including; Coca-Cola, CoverGirl, Keds, AT&T, Target and Sony Electronics.
Swift has been featured in many advertising campaigns for the brands across print, television and digital platforms.
Coca-Cola Coins: Taylor (pictured: 2009) has partnered with major brands throughout her career such as; Coca-Cola, CoverGirl, Keds, AT&T, Target and Sony Electronics
Financially savvy father
Taylor’s financial success may also be due to the direct influence of her father, Scott Swift.
Scott is a long-time employee of Merrill Lynch (a Bank of America company), whose registered investment advisor, The Swift Group, is based in the family’s hometown of Wyomissing, Pennsylvania.
A disclosure with the Securities and Exchange Commission lists him as being affiliated with 10 companies linked to his daughter, according to Bloomberg.
That includes merchandising and rights management companies, as well as companies that own her tour bus, two private jets and real estate.
Proud Parents: (LR) Scott Swift, Taylor Swift and Andrea Swift attend the 48th Annual Academy of Country Music Awards in Las Vegas in 2013