Monday, May 27, 2024

Taylor Swift is the first self-made billionaire in the music industry

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International singer Taylor Swift has officially joined the “Celebrity Billionaires Club” who have financial accounts that exceed 10 figures in their bank balances.

Pop star Taylor Swift kicked off her Eras Tour, the culmination of her two-decade career, celebrating the 10 iconic albums she’s produced.

The tour was an exceptional success, grossing $780 million in ticket sales, making it one of the most profitable concert tours in history.

The tour represents a milestone in the 33-year-old star’s career as he became the first musician to achieve the title of “billionaire” solely through his musical works and concerts.

According to Forbes estimates, Swift’s net worth has risen by about $360 million since June to more than $1.1 billion, pushing her to 34th on the list of America’s richest self-made women.

A significant increase in Taylor Swift’s wealth came from the most memorable summer of the star’s career, as she earned $190 million from the first stop of her IRAS tour, and another $35 million she earned in the first weeks of the premiere of her movie “Taylor Swift: The IRAS Tour.” had most of the wealth. More than half a billion dollars of Taylor Swift’s fortune was earned through concert tours and concerts. The other $500 million depends on the increasing value of his personal music library. He also owns real estate worth $125 million, including 6 houses and a private jet worth $10 million.

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Taylor Swift’s wealth comes at a time when the phenomenon of billionaire celebrities is on the rise, as she ranks 15th on Forbes’ list of famous people to become billionaires, and ninth among those who have achieved the feat. In the last three years alone, he is considered one of only 4 musicians to have officially achieved this title.

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Numbers don’t lie

Since releasing his debut album with Universal Music Group, Lover in 2019, it has sold a total of 37.3 million copies in the United States, according to data provided by Luminet to Forbes. Alex Haish, founder and CEO of Sound Royalties, is clear that with its continued dominance in the music industry and becoming a global brand, the value of its albums has risen significantly.

As Haish points out, his first six albums were valued at $140 million by Brown’s group five years ago.

Exceptional success

Taylor Swift wrote the lyrics for her top 50 Billboard songs, which means that she is the primary author of more than a quarter of her songs, which are exceptional and rare in the music world.

This important role he played in writing the lyrics of his songs significantly increased his share of earnings, which shows the importance of his role as a creator and composer. Also, he regularly collaborates with famous musicians such as Jack Antonoff and Max Martin. These producers will participate in the production of music together with Taylor Swift, and in case of success of the songs and sales, they will receive a part of the revenue.

Pandora Bacchus
Pandora Bacchus
"Coffee evangelist. Alcohol fanatic. Hardcore creator. Infuriatingly humble zombie ninja. Writer. Introvert. Music fanatic."

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