Taylor Swift has been named a billionaire by Forbes.

On Tuesday, it was announced that the music superstar had made Forbes' annual billionaires list for the first time, with an estimated fortune of $1.1 billion (£875 million).

The 34-year-old made history by becoming the first musician to achieve billionaire status based solely on her music and performances.

"In October 2023, Taylor Swift accomplished a feat no other musician had before: she became a billionaire strictly off of earnings from her music and performances," Forbes wrote in an article published on Tuesday.

Taylor's record-breaking, five-continent Eras tour, which kicked off in Arizona in March 2023 and will run until 8 December, is the first tour to gross more than $1 billion (£795 million), according to Pollstar's year-end charts.

Forbes estimates that the All Too Well hitmaker has earned $500 million (£398 million) from her royalties and touring, and a further $500 million from her music catalogue. She is also estimated to have made around $125 million (£99 million) from real estate.

In October last year, Taylor released a concert film, Taylor Swift: The Eras Tour, which reportedly grossed around $250 million, making it the highest-grossing concert film of all time.

Taylor joins the likes of designer Christian Louboutin and NBA legend Earvin 'Magic' Johnson on the list of first-time billionaires.