Taylor Swift becomes world's richest female musician

Taylor Swift has now become the world's richest female musician.

The title, which was previously owned by Rihanna, now belongs to the Blank Space crooner with her net worth of $1.6 billion, according to a report by Forbes.

Previously, Rihanna had a net worth of $1.7 billion but now she stands at $1.4 billion.

This comes just a year after Swift joined the ranks of billionaire musicians. The Grammy-winning artist made history last year by becoming the first artist to reach billionaire status mainly from her music career and live shows.

Additionally, Swift, who has been in spotlight with her record-breaking albums and Eras Tour, also owns $125 million in real estate holding.

However, other artists on the list include Beyonce, and who stands several spots below with $760 million, but her husband, Jay-Z is on the top with his net worth of $2.5 billion.

Swift is set to resume her Eras Tour after a short break. She will kick off her final leg across North America on October 18 in Miami.