Swifties rejoice as Taylor Swift surpasses Beyonce and Rihanna to become world's 5th most powerful woman on Forbes annual ranking

LOS ANGELES, CALIFORNIA: Forbes has published its 20th annual list of the World's Most Powerful Women. It features the most influential female role models in the world, including CEOs, actors, politicians, philanthropists, and legislators.

Forbes magazine named America's beloved Taylor Swift one of the most powerful women in the world, surpassing Beyonce and Rihanna, to come in at number five on a list that also includes CEOs and heads of financial firms.

Swift is rated fifth on the 2023 edition of the prestigious magazine's list of the World's Most Powerful Women. She ranked 79th on the same list the previous year.

Overall, the people who rank higher than her are French Prime Minister Giorgia Meloni at number 4, US Vice President Kamala Harris at number 3, European Central Bank President Christine Lagarde at number 2, and European Commission President Ursula von der Leyen at number 1.

What makes billionaire Taylor Swift one of the most powerful women in the world?

The 'Anti-Hero' singer is the highest-ranking musician on the 'Media & Entertainment' list, marking her highest-ever position.

In its opening paragraph, Forbes states, "With a record-breaking world tour, the ability to move economies, and a $1.1 billion net worth, the 33-year-old entertainer ranks among the most influential women on the planet."

With Swift launching her record-breaking Eras Tour and a new relationship with football player Travis Kelce that brought together two seemingly unrelated worlds—Swifties and the NFL—2023 has undoubtedly been a spectacular year for the pop singer.

With her historic Eras tour, which has made nearly $850 million after 66 performances in the United States, Swift became a billionaire in October, as per the prestigious outlet.

Swift's earnings of $190 million (after taxes) from the first leg of her tour contributed to her net worth of $1.1 billion altogether. She will embark on her second tour in 2024, visiting Europe and Asia.

The article also mentioned how holding an Eras Tour in a city might boost the local economy. Forbes reported that during her two shows in Denver, fans spent an average of $1,300 on housing, food, and merchandise, contributing $140 million to Colorado's GDP.

Professor of labor economics at the University of Chicago Carolyn Sloan said of Swift, "She’s like a big corporation, essentially, operating in many sectors."

The popularity of her October-released Eras Tour event is another point mentioned by Forbes. In its first weekend of release, the film brought in $93 million, and it made over $250 million worldwide.

Beyonce at 36 and Rihanna at 74 on Forbes' annual ranking list

Beyonce has jumped up 44 ranks from last year's ranking of number 80 to sit at 36th place on the list of the Most Powerful Women.

The 42-year-old superstar received the accolades as a result of her historic Grammy victories in February, which made her the most honored artist in Recording Academy history.

Forbes also notes that her Renaissance Tour's popularity and her partnerships with Balmain contributed to her success.

Although Rihanna ranks 74th, her incredible $1.4 billion net worth surpasses both Swift and Beyonce's $540 million.

The 35-year-old singer-mogul received praise from Forbes for both her Super Bowl Halftime Show performance earlier this year and her incredibly successful Fenty Beauty and Savage x Fenty businesses.

All three of these women appeared on Forbes' list of America’s Richest Self-Made Women in June -- Beyonce came in at number 48, Swift at number 34, and Rihanna at number 20, as per Billboard.

Swifties celebrate as Forbes ranks Taylor Swift fifth most powerful woman of 2023

Social media users, particularly Swifties, went over the moon following the 'Karma' singer's ranking on Forbes' annual ranking list.

One such ecstatic Internet user wrote on X (formerly Twitter), "Oh not a single lie was told, ranking in the top 5 with prime ministers and vice presidents. I mean she did save US economy so much this year, now that’s power!"

A second one agreed and said, "Taylor swift deserves all the power that she has and should be higher on the list honestly."

A third fan wrote, "Success isn't a destination; it's a Swiftly evolving journey. Taylor's journey? A continuous celebration of talent, resilience, and boundless creativity."

"It's great to see Taylor Swift being recognized as the most powerful woman in Media & Entertainment in 2023 by Forbes. Her influence extends far beyond music, solidifying her impact across various realms. She truly is a powerhouse," explained another one.

One more fan exclaimed, "Her influence extends far beyond music, solidifying her impact across various realms. A powerhouse indeed!"

"Taylor is on the top list, the most influential and most powerful. Taylor Keep rising my shining," added another one.