Taylor Swift, the mega popstar behind the biggest ongoing concert tour in the United States, has officially become a billionaire.
While Swift's success with the Eras Tour comes as no surprise, to generate revenue as much as some smaller countries solely from her stellar music career is a tale fit for the history books.
Taylor Swift's Success By the Numbers
According to Bloomberg's latest analysis, the hitmaker's total net worth has climbed up to a whopping $1.1 billion, including:
- $400 million coming from the value of her music catalog
- $370 million from her sales and merchandise
- $120 million from her streams
- $110 million from the value of her five homes
- $80 million from her music royalties
Additionally, 53 of her U.S. concerts this year alone have contributed a total of $4.3 billion to the country's gross domestic product (GDP), and this is expected to grow up to $5.7 billion.
Analysts project the popstar is set to make $4.1 billion in personal earnings by the time she's done with her remaining 89 shows that are part of the Eras Tour.
Taylor Swift’s Talents Go Beyond Music
For these reasons, labor economist Carolyn Sloane from the University of Chicago believes Swift's talents stretch beyond music-making.
"In addition to being a generational talent, Taylor Swift is a great economist," Sloane explained, adding that "Taylor has great ideas, is able to scale her ideas and seems to be pretty risk-seeking."
True enough, several banks and figures have credited her for her contributions to the U.S. economy. The Federal Reserve Bank of Philadelphia's Beige Book from June gave Swift an honorable mention, and attributed its spurring growth to her concerts.
Meanwhile, Fed Chair Jerome Powell suggested that policymakers are considering the impact of cultural events such as Taylor Swift's Eras Tour, Beyonce's Renaissance World Tour, and the Barbie movie on future interest rate hikes and the state of the American economy.
Edited by Nikola Djuric