Taylor Swift is now a billionaire, says Bloomberg – WSVN 7News | Miami News, Weather, Sports

New York (CNN) — Taylor Swift has another accolade to add to her long resume this year: America’s most popular pop star is now a billionaire, according to a Bloomberg analysis.

The company, which manages the Bloomberg Billionaires Index, said Swift’s total net worth now stands at $1.1 billion, thanks to a record-breaking Eras tour that helped boost the U.S. economy this summer.

Bloomberg said Swift is one of the few entertainers who has achieved this status based on her music and performance alone.

Chris Leyden, director of growth marketing at SeatGeek, previously told CNN that “Taylor Swift’s ‘Eras’ tour is rewriting the entertainment economics playbook.”

“She’s not just a performer — she’s an economic phenomenon,” Leyden said.

Swift dominated not only Super Bowl-sized arenas, but also local movie theaters. The pop singer’s concert film, “Taylor Swift: The Eras Tour,” grossed approximately $96 million at the box office in its opening weekend in the United States and Canada, making it the highest-grossing concert film domestically in an opening weekend. according to AMC.

According to survey data from research firm QuestionPro provided exclusively to CNN in August, the Eras tour could bring in $2.2 billion in ticket sales in North America alone. This unprecedented sum represents the primary U.S. ticket sale Swift just completed in Los Angeles, as well as a second North American leg next year. That would be the highest-grossing tour of all time.

The numerous stops in North American cities boosted the economy – the final six nights of Taylor Swift’s Eras tour in Los Angeles brought in an estimated $320 million for the city, according to the California Center for Jobs and the Economy.

It even popularizes the NFL – at least for those who haven’t tuned in to Sunday Night Football. News that the star was rumored to be attending a Kansas City Chiefs Travis Kelce game on October 1 has sent ticket prices up more than 40% – from $83, according to TickPick, an online marketplace to $119.

The singer became a cultural phenomenon and increased her economic influence. In the cities where Swift performed, public transit ridership skyrocketed and hotel occupancy skyrocketed. Santa Clara, the tech-rich city in Northern California, briefly became “Swiftie Clara.” In Seattle, dancing Swifties caused seismic activity that a seismologist said was equivalent to a magnitude 2.3 earthquake.

The star is releasing another new release of his album on Friday – “1989 (Taylor’s Version),” which received a total of 10 Grammy nominations at the time of its release.

Swift announced in 2019 that she planned to re-record her first six studio albums after her former label sold her master recordings. She has since released Taylor’s Version albums for Red, Speak Now and Fearless.

Swift can now join the ranks of Rihanna, who became a billionaire in 2021, according to Forbes. Although it has been years since Rihanna released an album, she has spent that time building her business empire through her makeup line Fenty Beauty and her lingerie line Savage x Fenty. Jay Z and Beyoncé reached this milestone in 2017. In addition to music, the two have also been involved in various business ventures.

The-CNN-Wire™ & © 2023 Cable News Network, Inc., a Time Warner company. All rights reserved.

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