Celebrity Net Worth: Taylor Swift’s economic wave continues to swell

Self-made billionaire singer-songwriter Taylor Swift.

continues to make economic waves with her record-breaking Eras concert tour, including in Australia, where she recently wowed more than 620,000 fans across seven concerts in Melbourne and Sydney.

Known as “Swiftonomics”, it is estimated that the 34-year-old’s Eras tour added about A$300 million ($195.2 million) to the Australian economy as “Swifties” from around the country and overseas splashed out on merchandise, accommodation, flights, restaurants and other expenses, according to data from National Australia Bank, the country’s second-biggest lender by assets.

Swiftonomics fever was so high that one Melbourne official claimed that it would generate more than $1.2 billion in economic value to Australia’s second-biggest city alone.

“From hotel rooms to heaving restaurants, merchandise stands to packed pubs, her four Sydney gigs created a buzz in the city not seen since before the pandemic,” Julie Rynski, a National Australia Bank executive, said.

“The cultural and economic impact of her seven, sold out, Melbourne and Sydney shows will last long in the collective memory, while businesses across both capital cities can be very thankful for the ‘Taylor effect’, which has helped spark a late summer spending spree.”

The 152-date Eras concert tour across five continents has already shattered several records and sparked ticket frenzies. It is expected to be the highest-grossing tour of all time when it closes in December this year.

By then, the US leg of the tour could add $5.7 billion – a gross domestic product larger than 50 nations – to the country’s economy, software company Question Pro said last August.

According to a report by the Economic Impact Research Labroratory, Swift’s four shows in Tokyo from February 7 to 10 were estimated to add about $230 million to Japan’s economy, The Japan Times reported.

Swiftonomics is also expected to benefit the economy of Singapore, where the singer is currently playing six sold-out concerts, with estimates that it will generate up to S$500 million ($371.4 million), according to local media.

Meanwhile, Forbes magazine estimates that Swift’s personal earnings per show range between $10 million and $13 million.

In October last year, Swift became a member of the exclusive $1 billion club with a net worth of $1.1 billion, boosted by her earnings from the Eras tour.

However, the 12-time Grammy winner could earn as much as $4.1 billion from the tour, according to estimates based on her share of 85 per cent, The Washington Post reported.

Swift is one of the few entertainers to reach billionaire status based on just her music and performances, according to Bloomberg.

As one of the world’s richest self-made women, the Shake it Off singer has primarily earned her fortune from her successful music career, which she began at the age of 16 with her self-titled debut album.

Since then, her 10 studio albums have sold millions of copies, both physical and digital, according to Investopedia.

Swift also invests in real estate to build her wealth. With eight homes, her property portfolio is worth about $150 million, according to The Wall Street Journal.

She has four homes in New York City, a seven-bedroom home in Massachusetts, properties in Nashville, Tennessee, and an estate in Beverly Hills.