American pop singer-songwriter, Taylor Swift has been named world's fifth most powerful woman for 2023 outpacing Beyoncé and Rihanna. She has joined her compatriots Jay-Z, Rihanna, Kanye West, and Diddy on the list of billionaire musicians. According to Forbes, she is the first musician to achieve the feat "solely based on her songs and performances." 'With a record-breaking world tour, the ability to move economies, and a $1.1 billion net worth, the 33-year-old entertainer ranks among the most influential women on the planet,' Forbes declares of the pop star in an introductory paragraph.
Swift achieved billionaire status in October as a result of her historic Eras tour, which has grossed close to $850 million following 66 shows in the U.S., according to Forbes.
Swift's net worth increased to $1.1 billion after she earned $190 million after tax, during the first leg of her tour, prompting her net worth to grow to $1.1 billion. She will next travel to Europe and Asia for her tour in 2024.
Forbes publication also cited the economic benefits of a city hosting an Eras show. On average fans spent $1,300 on lodging, food, and retailers during her two Denver concerts, providing $140 million to Colorado's gross domestic product.
Estimates made by the U.S. Travel Association calculate that Taylor's tour over $5 billion was added to state economies.
'She’s like a big corporation, essentially, operating in many sectors,' Carolyn Sloan, a labor economist and professor at the University of Chicago, told Forbes.
'Her audience has skewed so young and so female for so long that people may have underestimated how big this thing could be, economically. I don’t think anybody doubts that today.'
