Taylor Swift officially declared a billionaire by Forbes, Latest Music News - The New Paper

Taylor Swift officially declared a billionaire by Forbes

NEW YORK – Taylor Swift was officially named a member of the three-comma-club on April 2, as Forbes confirmed rumours estimating her wealth exceeds a billion dollars.

The financial news outlet said she is the first artist to achieve billionaire status solely on the basis of her music, and it estimated she has a US$1.1 billion (S$1.5 billion) fortune.

Other industry heavyweights who have hit the mark – Rihanna and Jay-Z among them – have earned their massive wealth in part via fashion brands, alcohol companies or entertainment holdings, among other interests.

Along with her vast songwriting catalogue, Swift staged the first billion-dollar tour ever – the ongoing Eras Tour has boosted economies and delighted fans around the world.

Swift, 34, also has a significant real estate portfolio, with homes in New York, Beverly Hills, Nashville and a coastal mansion on Rhode Island.

Her touring milestone was one of many records Swift shattered over the past year, including winning a fourth Grammy for Best Album, the most of any artist.

She received wall-to-wall attention throughout 2023, which closed with Time Magazine honouring Swift as Person of the Year, calling her a “rare person who is both the writer and hero of her own story”.

And in mere weeks, fans have a brand new album to look forward to: Swift is set to drop The Tortured Poets Department on April 19.

The frenzy around Swift was augmented in 2023 by her dating life, as the pop culture icon began a very public romantic relationship with tight end Travis Kelce of the Kansas City Chiefs, who ultimately won the Super Bowl championship.

Chiefs games – where Swift has been a regular in a private box – smashed a series of ratings records this past season.

It was yet more evidence of her vast influence: With hundreds of millions of social media followers and a staunchly loyal fan base, she can move any dial with the tiniest of efforts.

Even politicos – and conspiracy theorists – for months have been opining on her potential impact on the upcoming presidential election.

Swift was born in Pennsylvania on Dec 13, 1989. She began writing songs professionally as a teenager, signing with Nashville’s Big Machine Records as a country artist.

Years after she went full pop and, as she moved on to a major deal with Universal, Swift became embroiled in very publicised feud with Big Machine Records.

The sale of her song catalogue to a private equity firm triggered a massive dispute over musicians’ rights – and a bold new era of Swift’s career.

She vowed to re-record her first six albums in order to own the rights, and began making good on the promise, urging her fans to listen to Taylor’s Version instead of previous releases.

In the meantime, she has released several more original studio albums, with her 11th due later in April.

And her conversation-commanding Eras tour is due to continue until the end of 2024, with estimates anticipating she will surpass the US$2 billion threshold, a staggering sum. – AFP