Taylor Swift overtakes Rihanna to become world's richest female musician

Taylor Swift has been named the world's richest female musician.

Swift, 34, hit a net worth of $1.6 billion, according to Forbes. Rihanna was formerly in the position, peaking at $1.7 billion, but her estimated net worth has since declined to $1.4 billion.

The pop star hit $1 billion in October, largely due to The Eras Tour and her recently recorded albums. Swift is one of the few musicians to achieve this financial feat with just music releases and performances, Bloomberg reported at the time.

Swift opened The Eras Tour in Arizona back in March 2023. She traveled across the U.S. throughout that summer, wrapping up the first leg of the tour in August 2023 in Los Angeles. She took the tour internationally beginning in February and is set to conclude her performances in December after bringing her stage back to the US. The tour itself is projected to bring in $1.5 billion, depending on ticket prices, Forbes reported.

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Swift also chose to release her concert film only in theaters. "Taylor Swift: The Eras Tour" premiered on Oct. 13, 2023 and brought in $92.8 million on its opening weekend.

Since hitting billionaire status, Swift released her 11th studio album, "The Tortured Poets Department," in April.

The global pop star has managed to continue to bring in money while other artists struggle in the new age of streaming.

"Taylor is in a unique position, in terms of monetizing her talent. In an era where artists have lost millions — as album sales gave way to digital downloads — she’s actually riding the tech wave, instead of going out with the digital tide," branding expert Doug Eldridge previously told FOX Business.

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Swift has essentially transformed the music industry for female artists, according to Dr. Sonja Stribling, retired U.S. Army Major and author of the upcoming book, "From the Battlefield to the Boardroom."

"It is not just the money she is making, which is very important, but she is creating a pathway for other people to follow," Dr. Stribling told FOX Business. "I know without a doubt that her and Beyoncé have had a conversation about this because they are paving the way for others to follow. They are the first of many — especially for women — leading the way. So, it’s not just billionaire status, but Taylor is about to go down in history of setting high goals for others to want to achieve."

"I know that only 1% of this population in the industry that she operates in, and maybe even less than that, will achieve what she has achieved, and she makes it look so simple," she added.

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