How The Eras Tour Inched Taylor Swift Closer To Billionaire Status
Taylor Swift's Era's Tour has her on her way to billionaire status.
Since March, the Grammy award-winning singer/songwriter has been dazzling stadiums with her fun, over-the-top performances of her biggest hits. Plus, the tour has become somewhat of a celeb hotspot for those who also love Swift's lengthy catalog. The Eras Tour is scheduled to run until the end of 2024. However, Swift does have a two-month break coming up, per her website. North American fans who couldn't previously score the highly-coveted tickets will have to wait until 2024 to see Swift shimmy in her sparkly outfits on their home turf. "Turns out it's NOT the end of an era," wrote Swift on Instagram to announce the additional dates.
The Eras tour hasn't just been great for fans looking for an escape from responsibility. Swift, who is one of the richest female celebs in the world, is also benefiting from her fan's loyalty and support. Currently, Forbes cites Swift's net worth at $740 million, which means she's closer than ever to becoming a billionaire. And though Swift's never shared how much she thinks her music is worth, she believes that she deserves to be fairly compensated. "Music is art, and art is important and rare. Important, rare things are valuable. Valuable things should be paid for," wrote Swift for the Wall Street Journal in 2014. According to the latest reports, Swift's ongoing Eras tour is paying her quite well.
Taylor Swift's Eras Tour is making a ton of money
According to Poll Star (via Daily Mail), Taylor Swift's first phase of shows have already made $300 million. The outlet cited Forbes' report, which estimated that Swift's cut of the figure amounts to around $30 million. Per the Federal Reserve Swift is bringing in $13 million a night and considerably boosting the economy of each city the Eras tour visits.
For example. she helped tourism in Philadelphia: "Despite the slowing recovery in tourism in the region overall, one contact highlighted that May was the strongest month for hotel revenue in Philadelphia since the onset of the pandemic, in large part due to an influx of guests for the Taylor Swift concerts in the city." The report (via Fortune) also found that the tour generated $90 million for Cincinnati.
According to the New York Post, speaking to financial analyst Callie Cox, Swift's touring success could also be a surprising indicator that the post-Covid economy isn't as bad as many think. "Taylor Swift is incredible, but it also shows that US consumers have the budget to spend on discretionary items, and that's a good thing if you're worried about the economy," said Cox.
Taylor Swift knows how to pay it forward
Taylor Swift is basically super wealthy fairy god mother. While Swift could pocket all of the riches that the Eras Tour has afforded her but instead, as reported by People, Swift has allocated $55 million of her tour profits to the dedicated people who work hard to keep the wheels in motion.
Driver Mike Scherkenbach — one of several crew members who received $100,000 in bonuses — spoke with Rolling Stone and shared his reaction to Swift's gift. "She's giving a sum of money that is life-changing for these people," shared Scherkenbach. "A lot of these drivers are not homeowners, and a lump sum like this gives you the ability to put a down payment on a home. That's what makes me really happy. That generosity is a game changer for these people.
Swift also won over Scherkenbach after she acknowledged the crew in her documentary. "They did the documentary on the last tour, Reputation, for Netflix, and she listed my drivers in the credits," shared the driver. "To put the drivers' names in the movie credits? That shows the character of a person."