Taylor Swift named Time’s 2023 ‘Person of the Year’

American superstar, Taylor Swift has been named 2023’s Person of the Year by Time Magazine.

The historic reveal was made on Wednesday, placing Swift as the first woman to be given the title twice by Time. She first earned the title in 2017, the same year she released her iconic “Reputation” album.

TIME’s Person of the Year is the “annual designation for the person, group or concept that most shaped the headlines, for good or ill”.

The billionaire beat the likes of Chinese President Xi Jinping, OpenAI CEO Sam Altman, as well as British Monarch, King Charles III, to earn the title.

Swift had a successful run with her music career this year with a tour and album re-release. Her ongoing Eras tour grossed over $850 million after 66 shows in the United States alone.

According to Forbes, Swift joined the billionaire league after the tour shot her net worth up to $1.1 billion in October this year.

“Eras” has led to what analysts call the “Taylor effect,” which refers to the economic surge her concerts create when her legion of fans swarm such cities to lodge in hotels and patronise small businesses.

Time also reports that “politicians from Thailand, Hungary, and Chile implored her to play in their countries. Cities, stadiums, and streets were renamed for her. Every time she came to a new place, a mini economic boom took place as hotels and restaurants saw a surge of visitors.”

The Time Magazine title is one out of several which Swift has received as the year draws to a close.

On Tuesday, Forbes named Swift as the fifth most powerful woman in the world and the first entertainer to break into the top five since the list’s inception.

Similarly, People Magazine also crowned the singer as the most intriguing person of 2023 on Tuesday.