Taylor Swift has become a billionaire according to Bloomberg, getting one step closer to the likes of some of the richest people in the world, including wealthy businessmen Warren Buffett and Bernard Arnault.
Taylor Swift is undoubtedly one of the most successful musicians of our time with a net worth of around 1.1 billion dollars, but where does most of her wealth come from?
In this article, we will delve into Taylor Swift's net worth and explore how her success as an artist has helped her build the fortune she has today.
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How did Taylor Swift become a billionaire?
Bloomberg News says Swift is one of very few artists that has reached billionaire status from her music and performing alone, without the need for side hustles to boost her wealth significantly.
New data from Spotify reveals Taylor Swift was the most streamed artist in 2023, with more than 26.1 billion global streams. From this, she has earned a staggering £72,118,541.25 in 2023 from the streaming platform alone.
She currently has nearly 900 million monthly listeners on Spotify.
According to Forbes, 500 million dollars comes just from Swift’s music and touring (giving her most recent Eras tour a lot of the credit).
She has only completed the Eras tour in the U.S. and has already made an estimated $190 million after taxes. The second leg of the tour will see Swift go international, including bringing her tour to the UK in 2024.
And let’s not forget the after-effect her tour has already had on the world- boosting local economies- or as we call it, the ‘T-Swift lift’, and causing Taylor Swift ‘quakes’ when her fans generated seismic activity during a show in Seattle, U.S some outlets report.
Swift also made around 35 million dollars from the first two weeks of screening her concert film ‘Taylor Swift: The Eras Tour,’ Forbes reports.
But let’s go back- where did Taylor Swift come from and how did her journey begin into fame?
The root of Taylor Swift's net worth
Most successful singer-songwriters began with the hard work of playing for free, and Taylor Swift is no different. Born on December 13, 1989, in Reading, Pennsylvania, she showed an early interest in music and singing, starting out at age 10, she learned to play the guitar and began writing her own songs.
Swift's big break came in 2006, when, at the age of just 17, she signed a record deal with Big Machine Records, a label Swift later regretted signing on with (more on that later).
Released later that year, her debut album was a critical and commercial success spawning several hit singles, including "Tim McGraw," "Teardrops on My Guitar," and "Our Song." The latter became Taylor Swift's first number-one hit on the Billboard Hot Country Songs chart.
Taylor Swift's career began in the country music market, although her music quickly gained mass appeal. She went on to release her second album, "Fearless," in 2008, which debuted at number one on the Billboard 200 chart and later went on to become the top-selling album of 2009.
After her early career success, Taylor Swift continued to dominate the music industry in the 2010s. In 2010, she released her third album, "Speak Now," which debuted at number one on the Billboard 200 chart and featured hit singles such as "Mine," "Back to December," and "Mean." The album showcased Swift's growth as a songwriter and her willingness to experiment with different musical styles.
Swift's success continued with the release of her fourth album, "Red," in 2012. The album featured a more pop-oriented sound and included hit singles such as "We Are Never Ever Getting Back Together," "I Knew You Were Trouble," and "22." The album debuted at number one on the Billboard 200 chart and cemented Swift's status as one of the biggest pop stars in the world.
In 2014, Swift released her fifth album, "1989," which marked a departure from her country roots and embraced a full pop sound. The album included hit singles such as "Shake It Off," "Blank Space," and "Bad Blood," and won several awards, including the Grammy Award for Album of the Year. The album was a commercial and critical success and cemented Swift's status as one of the most successful musicians of her generation.
Taylor Swift re-released her old music
With Big Machine Records, Taylor Swift released some of her best-selling music. The contract with the record label lasted from 2005 to 2018, and when the deal was up, the artist switched to Universals' Republic Records. However, Big Machine continues to own the original recordings of her first six albums.
Big Machine sold itself to private-equity group Ithaca Holdings, owned by music manager Scooter Braun, who Swift claims has bullied her. Although Ithaca sold the rights to her music to Shamrock Holdings for a reported $300m in 2019, Swift decided it was time to re-record her first six albums and keep the master recordings under her own control.
While motivated by personal reasons, this was also a savvy business decision. By keeping the rights to her music, Swift can keep all the royalties without having to split the takings with other investors.
All three re-recorded albums (1989, Fearless and Red) topped the Billboard 200 charts, taking the number one spot.
How Taylor Swift's net worth has rocketed
Most of the singer-songwriter's wealth comes from her music sales and very lucrative tours.
Her Reputation stadium tour grossed over $345m in 2018, while her latest Eras stadium tour has generated a staggering $1.4bn in ticket sales.
Not all of this revenue goes to the artist, but Taylor Swift has plenty of other income streams.
She owns several properties, including a $50 million apartment in New York City and a $17 million beachfront mansion in Rhode Island and an interest in streaming service Tidal.
And like all celebrities, Taylor Swift has signed numerous sponsorship deals, partnering with major brands, including Coca-Cola, Keds, and CoverGirl. Swift is known for being very selective about the brands she works with - she only partners with those that align with her values and image. She also has a range of merchandise highly sought after by her fans.
Jacob is the founder and CEO of ValueWalk. What started as a hobby 10 years ago turned into a well-known financial media empire focusing in particular on simplifying the opaque world of the hedge fund world. Before doing ValueWalk full time, Jacob worked as an equity analyst specializing in mid and small-cap stocks. Jacob also worked in business development for hedge funds. He lives with his wife and five children in New Jersey. Full Disclosure: Jacob only invests in broad-based ETFs and mutual funds to avoid any conflict of interest.
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