US singer Taylor Swift's net worth hits record $1.6 billion

Taylor Swift has solidified her position as the world's wealthiest female musician with a massive personal fortune of $1.6 billion.

The 14-time Grammy winner first became a billionaire last year, according to Forbes, following the immense success of her Eras Tour and thanks to the "value of her music catalog."

Forbes wrote, "Her fortune includes approximately $600 million from royalties and touring, as well as a music catalog valued at an estimated $600 million and $125 million in real estate."

The 34-year-old Swift saw demand for Eras Tour tickets in the US skyrocket in the months leading up to the start of the concert series in March 2023.

The star, who later performed at sold-out stadiums around the world, completed the European leg of her tour in August.

The vocalist, known for the song "Fifteen," will return to the main stage in Miami, Florida, on October 18. From there, she will move on to New Orleans and Indianapolis, and will perform concerts in Canada in late November and early December.

Following the popularity of the Eras Tour, Swift was named Time magazine's Person of the Year. Editor-in-chief Sam Jacobs noted that Swift became the first "entertainer" to receive this honor, praising her "rare" ability to be both the "author and hero of her own story."

The artist, known for "Sparks Fly," was also named "Most Intriguing Person of the Year" by People magazine and the "most powerful woman in media and entertainment" by Forbes in 2023.