Taylor Swift has capped off an extraordinary year by achieving a remarkable milestone—she is now officially a billionaire.

According to Forbes, the pop phenomenon's net worth has soared to a staggering 1.1 billion, solidifying her status as not just a musical powerhouse but also a business-savvy entrepreneur.

The recipient of The Time's Person of the Year made such a substantial impact that she contributed millions to local economies nationwide.

For instance, her two-night stay in Denver resulted in a $140 million boost to Colorado's gross domestic product, while her three-night performance at Philadelphia's Lincoln Financial Field marked the highest hotel revenue for the city in years.

The U.S. Travel Association approximated that the U.S. leg of her tour generated around $5 billion for state economies.

University of Chicago professor and economist Carolyn Sloane shared, “She’s like a big corporation, essentially, operating in many sectors,” adding, “Her audience has skewed so young and so female for so long that people may have underestimated how big this thing could be, economically. I don’t think anybody doubts that today.”

The debut of Taylor Swift's film The Eras Tour in October generated an impressive $93 million during its opening weekend and has since amassed over $250 million in global earnings.

Additionally, the Lover crooner's re-recordings of her albums, notably the recent release of 1989 (Taylor’s Version), have significantly contributed to her monumental success, propelling her to become the most-streamed artist on Spotify in a single day in October.

As per Celebrity Net Worth, Taylor Swift amassed $170 million from her 1989 world tour between 2015 and 2016. Subsequently, in 2019, the singer of "Lavender Haze" generated $185 million through her Reputation stadium tour, which achieved a remarkable total gross of $266 million.

 Swift also boasted an impressive real estate portfolio, featuring multi-million-dollar residences in various locations, including Tennessee, Rhode Island, New York, California, and Massachusetts.