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Taylor Swift has been named the world’s richest female musician.
Swift, 34, has a net worth of $1.6 billion, according to Forbes magazine. Rihanna once held that position, with a peak of $1.7 billion, but her estimated net worth has since declined to $1.4 billion.
The pop star hit $1 billion in October, thanks in large part to his Elas tour and recently recorded album. Swift was one of the few musicians to achieve this financial feat solely through music releases and performances, Bloomberg reported at the time.
Swift opened her Elas Tour in Arizona in March 2023. She traveled across the United States throughout the summer, wrapping up the first leg of her tour in Los Angeles in August 2023. She will be participating in an overseas tour starting in February, and plans to bring the stage back to the United States and finish her performance in December. According to a report in Forbes magazine, the tour itself is expected to bring in $1.5 billion in revenue, depending on ticket prices.
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Taylor Swift’s net worth has increased to $1.6 billion. (Getty Images/Getty Images)
Swift also chose to release the concert film only in theaters. “Taylor Swift: The Elus Tour” premiered on October 13, 2023 and brought in $92.8 million in its opening weekend.
Since becoming a billionaire, Swift released her 11th studio album, The Tortured Poets Department, in April.
While other artists struggle in the new era of streaming, global pop stars are managing to continue to make money.
“Taylor is in a unique position when it comes to monetizing her talent. At a time when album sales are being replaced by digital downloads and artists are losing millions of dollars, she’s riding the digital bandwagon. They’re actually riding the technology wave,” branding expert Doug Eldridge previously told FOX Business.
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Taylor Swift officially became a billionaire in October 2023. (Kevin Mazur/TAS Rights Management via Getty Images/Getty Images)
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Taylor Swift is currently on her Ellas tour. (Buda Mendez/TAS23/TAS Rights Management for Getty Images/Getty Images)
According to Dr. Sonia Stribling, a retired U.S. Army major and author of the forthcoming book From the Battlefield to the Boardroom, Swift essentially changed the music industry for female artists.
“It’s not just the money that she’s making that’s so important; she’s paving the way for other people to follow,” Dr. Stribling told FOX Business. “I know without a doubt that she and Beyoncé have talked about this, because they are paving the way for others to follow. They are the first to lead the way for many, especially women. So it’s not just the billionaire status, but Taylor is trying to make his mark in history by setting high goals that others want to achieve.”
“I know that only 1% of the population in the industry she operates in may be able to achieve what she has achieved, or even less. And she does it very well. We make it look simple,” she added.
Taylor Swift released her 11th studio album in April. (Getty Images/Getty Images)
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