She’s been one of music’s biggest stars since the early 2000s, but how did Taylor Swift make her money?
Taylor Swift was born in 1989 to already-wealthy parents but would go on to make the bulk of her money from record sales and high-grossing tours. She also has a wide variety of endorsements, merchandise deals and exclusive licenses.
Read on to learn more about Taylor Swift and her incredible wealth.
Not Necessarily The Underdog
When Taylor Swift entered the musical scene in 2003, it was assumed that she was an underdog. After all, she was never before heard, very young, and breaking into an non-typical genre: country.
There were several back stories circulated to flesh out the Swift persona. One of the most popular among the media was the statement made by Swift herself, suggesting she’d practice guitar “until her fingers bled”.
She was an instant hit, particularly in the United States. However, she certainly wasn’t the underdog the media would have you believe. Swift’s father, Scott Kingsley, was a successful stockbroker.
Growing up, Swift didn’t want for anything. She lived in a privileged environment in Pennsylvania, her parents affording her all she asked for. At the age of nine years old, Swift took an interest in musical performance, and her parents instantly nurtured what seemed to be a natural ability.
Taylor was enrolled in a youth academy, and regularly escorted to New York City to take vocal lessons. Her parents empowered her, giving her the opportunity to perform at various talent shows and festivals.
When she was just eleven, her parents took her to the home of country music: Nashville, Tennessee. There, they visited multiple record labels, attempting to land Swift a deal in the genre she’d come to love so young.
However, she was turned down numerous times, stating herself that she needed to “figure out a way to be different.” The opportunities would continue flowing, however, and Swift would keep working toward the spotlight. When she was twelve years old, she was given a marketing opportunity with Abercrombie & Fitch.
The real change came when her father purchased a stake in a newly-founded record label, Big Machine Records. Coincidentally, Taylor Swift would end up the first artist signed to this label. She began co-writing sessions with massive country writing stars, and released her first album in 2006.
The Success Begins
The launch of Taylor Swift’s self-titled debut album was an irrefutable success in every aspect. It spent an incredible 157 weeks on the charts, the longest any album had charted for a decade. Within three years, the album sold almost eight million copies worldwide.
Taylor Swift became a one-woman production machine, releasing track after track. She dabbled in minor acting roles, and the endorsements and sponsorship deals came rolling in. This only added to her already considerable wealth.
Over time, Swift’s sound changed, transitioning from a country-pop to straight pop sound. She moved with her fan base, and acted as a shrewd businesswoman. Her fans were dedicated, buying out a reported average of $17 of merchandise per ticket at shows. When you consider that all her tours were sell-out, it makes for a substantial number.
Throughout the 2010s, Swift signed endorsement deals with Diet Coke, Keds and Elizabeth Arden, among others. She also earned huge royalties on everything she’d released, being at least co-writer on every track. You can see a Taylor Swift Diet Coke commercial on YouTube.
Further, she hasn’t ever embarked on a tour that brought in less than $60 million. Her Red tour in 2013 was record breaking, grossing $150 million.
For all her wealth and success, Swift allegedly stays extremely grounded. She’s always giving back to her fans, and actively participates in philanthropy. As of 2020, her net worth was around $400 million, but she definitely used a fair portion of that to give back to the community.