In a remarkable financial milestone, Taylor Swift has officially become the world’s richest female musician, boasting an estimated net worth of $1.6 billion (£1.2 billion).

This news follows her debut on Forbes’ annual billionaires list earlier this year and highlights her extraordinary success during the ongoing “Eras Tour” and the sustained popularity of her music catalogue.

As of October 5, Forbes updated Swift’s net worth, which now places her ahead of Rihanna, who is estimated at $1.4 billion (£1 billion).

Taylor Swift Crowned World’s Richest Female Musician

Despite this, Rihanna retains the title of “Richest Female Musician of All Time,” having once reached a peak net worth of $1.77 billion (£1.3 billion).

Swift is currently ranked second among all musicians, following Jay-Z, whose net worth is estimated at $2.5 billion.

Forbes attributes much of Swift’s wealth to her $600 million (£457 million) earnings from royalties and touring, alongside another $600 million from her catalogue.

A significant portion of her income has come from her re-recorded albums, a strategy to regain control over her master recordings. Her latest re-release, the 2014 album “1989,” has already outsold its original version.

Real estate ventures have also contributed to her financial success, with Swift reportedly earning $125 million (£99.5 million) from property investments.

Furthermore, her Spotify streaming royalties alone brought in an impressive $100 million (£79.6 million) last year, buoyed by the releases of her 2022 album “Midnights” and the recent “1989 (Taylor’s Version).”

Swift recently completed the UK and European leg of her “Eras Tour” with a stunning five-night residency at Wembley Stadium, where she was honoured with a personalised guitar.

The tour is set to resume on October 18 at Miami’s Hard Rock Stadium and will conclude in Vancouver in early December.

In a political twist, Swift has also endorsed Vice President Kamala Harris for the upcoming U.S. election, emphasising the importance of steady leadership in challenging times.

This endorsement has sparked reactions, including a notable backlash from former President Trump, who expressed his disdain for Swift on social media.