This should come as no surprise to the legions of Swifties who tried to get tickets for the Eras Tour, which began in March 2023 and was the first in US history to gross more than US$1b. The tour has spanned five continents and gave the US economy a US$5.7b ($9.3b) boost in 2023, according to a Washington Post analysis.
The success of the tour launched Swift to billionaire status for the first time in October last year. Forbes estimates Swift has made US$600 million ($978m) through touring and royalties alone.
Forbes values Swift’s musical catalogue at another US$600m. That’s more than Bruce Springsteen’s, which he sold to Sony Music for US$550 million in 2021, but less than Queen’s, which Sony Music acquired for US$1.2b ($1.9b) earlier this year.
Meanwhile, Swift’s wealthiest musical peers have largely owed their fortunes to lucrative side projects and partnerships.
Despite persistent pleas from her fans, Rihanna hasn’t released a studio album since 2016′s Anti. But the star’s cosmetics line Fenty Beauty, launched in 2017, catapulted her into the category. Forbes places the Bajan singer’s net worth around US$1.4b (Rihanna owns a 49.9% stake in the brand, which is valued at US$2.8b ($4.5b).
More and more, the money is not made from actual music but from monetising their fame – and their brands. A similar calculus holds true for hip-hop’s first billionaire – and the current world’s wealthiest musician. Jay-Z’s last studio album was a 2018 collaboration with his wife, Beyonce, Everything Is Love. It was ranked only the 70th most popular album of that year, according to Billboard. The 54-year-old Rock and Roll Hall of Fame inductee has won Grammys and an Emmy for his work producing the Super Bowl halftime show, but his riches come primarily from his other businesses, including his champagne brand, Armand de Brignac (also known as Ace of Spades), and his cognac brand, D’Usse. Jay-Z also has stake in companies such as Uber, CashApp parent company Block and music streaming service Tidal.
While Swift is on a break from the Eras Tour – it resumes October 18 in Miami – the singer has been flexing her political influence. Swift endorsed US Vice-President Kamala Harris in September, citing Harris and running mate Minnesota Governor Tim Walz’s support of abortion rights, IVF and LGBTQIA+ rights.
“She fights for the rights and causes I believe need a warrior to champion them,” Swift said of Harris.
