Taylor Swift has been named the fifth most powerful woman in the world by Forbes, coming ahead of every female musician, thereby making her the world’s most powerful female musician.
In its cover story, Forbes explained why Swift was given the title, causing her to climb up from the 79th most powerful woman last year to the 5th most powerful this year.
“17 years into her remarkable career, Swift has never had more economic, cultural and political clout,” the publication stated. “All of which has caused her to soar up the ranks of Forbes’ World’s Most Powerful Women, from No. 79 in 2022 to No. 5 this year.”
This achievement makes Swift not only the highest-ranked musician on the list but also one of the rare recording artists to achieve billionaire status solely through music.
Forbes added that the success of her Eras tour in 2023, which took place at the same time Beyonce was touring yet attracted a mammoth crowd, shows how powerful she is in the music industry.
“Thanks to the record-breaking success of the Eras tour, Swift became a billionaire in October — making her the rare recording artist to achieve ten-figure status, joining the likes of Jay-Z (net worth: $2.5 billion) and Rihanna ($1.4 billion),” per Forbes.
“A three-and-a-half-hour concert retrospective of her career, the Eras tour has grossed nearly $850 million over the course of 66 U.S. shows. Its first leg has added an estimated $190 million, after tax, to Swift’s coffers, boosting her net worth to $1.1 billion. The show will head to Europe and Asia next year.”
The most powerful woman in the world 2023 title goes to European Commission President Ursula von der Leyen, whose policy and budgetary decisions affect Europe’s 450 million people. That number soon might soar past 500 million. In her annual state of the union speech in September, von der Leyen reaffirmed her intent to make Ukraine and countries in the Western Balkans official EU members.
No. 2 this year is Christine Lagarde, the European Central Bank president who is shaping Europe’s monetary policy at a moment of high inflation.
Also coming in ahead of Swift is U.S. Vice President Kamala Harris, who came in third, and Italian prime minister Giorgia Meloni at number 4.
Both are the first women to hold their respective positions, and Meloni is asserting her influence by proposing reforms to Italy’s constitution that would allow for the direct election of the prime minister.
Beyond Taylor Swift, the Forbes list shines a light on a diverse range of women who are shaping the world. Beyoncé takes the No. 36 spot on the list of World’s Most Powerful Women, recognized for her entrepreneurial ventures and her continued reign as a musical powerhouse. Rihanna, at No. 74, is applauded for her fashion and beauty empire, as well as her philanthropic efforts.