Taylor Swift, Magic Johnson join Forbes' Billionaires List

Forbes notes that there are now 2,781 billionaires in the world, surpassing a record set in 2021.

Taylor Swift has a new title she can add to her name: billionaire. 

Amassing an estimated $1.1 billion fortune, the music superstar is among the 263 newcomers on Forbes' annual World's Billionaires List. 

The publication notes the success of Swift's Eras Tour, which has reportedly earned more than $1 billion in revenue. 

Swift is not the only household name making their first appearance on the list. Former NBA star Earvin "Magic" Johnson is now among the richest people in the world. After life on the court, Johnson has built a business empire that includes being part-owner of the NFL's Washington Commanders, investments in inner-city movie theaters and Starbucks locations. Forbes estimates Johnson's net worth to be $1.2 billion. 

Other newcomers on the list include the co-founders of discount clothing retailer Shein: Maggie Gu, Molly Miao and Ren Xiaoqing. They reportedly each have a net worth of $4.2 billion.