Taylor Swift’s edges are closer to becoming a billionaire: The massive Eras tour has boosted her personal fortune to $740 million — with at least a year of shows left
Taylor Swift is moving closer to becoming a billionaire thanks to her hugely successful sell-out The Eras Tour, which will run for another year.
The Grammy-winning singer, 33, has increased her personal fortune from $570 million in April to $740 million, according to Forbes magazine.
It comes after she expanded her stadium tour from 52 to 146 shows across the Americas, Europe, Asia and Australia.
The massive increase in value includes revenue from album sales, tours, songwriting royalties, merchandise, real estate portfolio, brand deals, and acting fees.
The Eras Tour’s first 22 performances grossed more than $300 million and it’s on track to raise a record $1.4 billion when it ends in August 2024, according to industry publication Pollstar.
Taylor Swift is closing in on billionaire thanks to her wildly successful sold-out The Eras Tour, which will run for another year
The Grammy-winning singer, 33, has increased her personal fortune from $570 million in April to $740 million, according to Forbes magazine
The Grammy-winning singer, 33, has increased her personal fortune from $570 million in April to $740 million, according to Forbes magazine
Mid-year reports released Monday revealed that Swift’s tour was the highest-grossing in North America and around the world between November 17, 2022 and May 17.
It is estimated that she has earned nearly $110 million from the performances so far after paying production costs and concert promoter Messina Touring Group.
But the artist then has to pay taxes and other expenses, including her manager, publicist, and agent.
She has paid out a total of $55 million in bonuses to employees of her The Eras Tour as the US leg of her tour comes to a close.
The singer paid the amount to workers on the lucrative trek, including backup dancers, rigging professionals, sound engineers, catering staff and truck drivers.
Forbes has estimated that the tour has contributed $30 million to her net worth so far, which has risen to $740 million, including real estate and other assets.
The Eras Tour is twice the size of the second highest-grossing tour worldwide, Bruce Springsteen & The E Street Band’s $142 million tour over 36 dates.
Swift is currently said to be the most popular artist worldwide in terms of ticket sales, streaming, airplay, and social appearances.
Her tour is on track to become the highest-grossing live music concert tour of all time, thanks to the added dates.
It was expected to earn $590 million, but that figure has risen to $1.4 billion.
If projections are correct, Swift will surpass Sir Elton John at the top after his Farewell Yellow Brick Road Tour retirement tour grossed $910.4 million.
But Beyonce’s Renaissance could surpass Swift with reports that it could make $2.4 billion in ticket sales by the time it wraps up in October.
It comes after Swift expanded her stadium tour from 52 to 146 shows across the Americas, Europe, Asia and Australia
The Eras Tour’s first 22 performances grossed more than $300 million and is on track to raise a record $1.4 billion next year, according to industry magazine Pollstar
The release of her re-recording of her 2010 album Speak Now in July, combined with her future tour earnings, could boost Swift’s net worth to around $900 million next year
She has also generated revenue through the release of her album Midnights in October 2022 and she became the first artist in history to have the top 10 songs on the Billboard charts.
Demand to see Swift perform is at an all-time high, and the Ticketmaster site crashed several times during the presale. It caused the public sale of tickets to be halted last November.
It is said that more than 3.5 million people have signed up to get tickets, which is more than any other artist in history. Swift sold more than two million tickets on its first day.
The ticketing company appeared at a Senate Judiciary Committee hearing earlier this year to explain the disaster.
The release of her re-recording of her 2010 album Speak Now in July, combined with her future tour earnings, could boost her net worth to around $900 million next year.
Swift’s concerts are also believed to provide an economic boost to the US economy, with fans in various cities spending money on lodging, food, transportation, clothing, and merchandise.
According to a survey by QuestionPro, the average person attending one of her performances is estimated to spend at least $1,300, with a total economic profit of about $5 billion.