CELEBRITY
The Eras Tour Has Made Taylor Swift A Billionaire, Bloomberg Says
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Taylor Swift has become the latest member of the billionaire’s club, according to a Bloomberg News analysis, amid her record-breaking Eras Tour, and as the concert film rules the box office.
As the 33-year-old Grammy winner releases her latest re-recorded album, 1989 (Taylor’s Version), on Friday, Bloomberg reports that her net worth has skyrocketed to $1.1 billion on the strength of the Eras Tour.
“Swift Inc. is essentially a multinational conglomerate with the worlds most devoted customer base, its most charismatic CEO and significant economic power,” the Bloomberg article asserts. The outlet estimated the first U.S. leg of the Eras Tour added $4.3 billion to the countrys gross domestic product, and that’s before a second U.S. leg next year.
The Eras Tour concert film, meanwhile, smashed box office records for its opening weekend earlier this month, and has so far generated more than $178 million.
Bloomberg said its analysis of the pop star’s worth was based only on assets and earnings that could be confirmed or traced from publicly disclosed figures. The figure accounts for the estimated value of her music catalog and five homes, and earnings from streaming deals, music sales, concert tickets and merchandise.
Their estimate also accounts for income tax, touring and travel costs, and commissions paid to agents and managers.
In addition to enriching Swift, the Eras Tour also boosted local economies across the U.S., generating millions in revenue for hotels, restaurants and other businesses patronized by visiting Swifties. Economists and policymakers have taken notice, with the Federal Reserve Bank of Philadelphia in June officially taking note of the tour’s effect in boosting the local economy.
The Eras Tour is set to resume next month in South America, before stopping in Japan and Australia early next year, ahead of a European leg over the summer. The tour is set to return to the U.S. next fall.
TMX contributed to this article.
