Taylor Swift, her masters and when spending tons of money is good for your mental health

USA Today

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Taylor Swift, her masters and when spending tons of money is good for your mental health
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Taylor Swift's no longer the youngest self-made billionaire
Taylor Swift was once the youngest self-made woman billionaire at 35. The new record holder, according to Forbes, is Lucy Guo, 30, the co-founder of Scale AI.
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With one major purchase, Taylor Swift made her "greatest dream come true."
The music mogul bought the masters to her first six albums after they were bought by Scooter Braun − someone Swift has publicly criticized − in 2019. Following Braun's purchase of her masters, the singer embarked on a crusade to reclaim ownership of her artistry, going so far as to re-record those albums and release them with the designation "Taylor's Version."
But now, it's all over. Late last month, Swift revealed in a lengthy statement on her website that, thanks to negotiations with the private equity firm Shamrock Capital − and, presumably, a boatload of cash − all that music that once belonged to Braun is hers now. Shamrock Capital purchased the master rights to Swift's first six albums from Braun's Ithaca Holdings in 2020.
"To say this is my greatest dream come true is actually being pretty reserved about it," Swift wrote. "I will be forever grateful to everyone at Shamrock Capital for being the first people to ever offer this to me. The way they've handled every interaction we've had has been honest, fair, and respectful."
She added: "This was a business deal to them, but I really felt like they saw it for what it was to me: My memories and my sweat and my handwriting and my decades of dreams."
Swift clearly has impressive business acumen. After all, she had the highest-grossing tour of all time. Forbes estimates her net worth at $1.6 billion. In October 2024, the publication designated her the world's richest female musician.
What's clear from her statement, however, is that, for her, buying these masters was much more than a business decision (though financial experts agree it probably will help her make more money in the long run, too). It was about her peace of mind: Finally, she has the satisfaction of knowing her music is hers.
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Let's be real: Most of us will never make Swift-sized purchases like this. That's because most of us will never have Swift-sized bank accounts. But the singer buying her masters, as well as her rationale behind the decision, does raise an important question: When is it wise to shell out major cash for something that holds deep meaning for you? When is peace of mind worth a dent in your bank account?
It's a difficult question, and the answer isn't so cut-and-dry.
"What she did was buying back her power, which is extremely emotional, especially for women, but it's so empowering that you're getting control of your own destiny back. For Taylor, it's a very big thing ... but she could afford to do that," certified financial planner Melissa Cox says. "For other people, people that don't have Taylor Swift kind of money, it's just going to depend on what it is that we're purchasing and why."
Taylor Swift and what her masters purchase means
Swift hasn't revealed how much she spent on her masters. Still, it's safe to assume those masters weren't cheap, with some outlets estimating the singer spent up to $360 million for them.
A source close to the negotiations told USA TODAY any rumored price range reported is "highly inaccurate."
But regardless, the sale price is sure to have been hefty.
Kristen Kelly, co-founder of the financial education resource The Wall Street Skinny, says that, even though this purchase was clearly quite emotional for Swift, it makes good business sense too. The power of Swift's brand lies in her ability to control her narrative. Owning the masters to her first six albums is an important piece of that puzzle.
More: Taylor Swift owns her music catalog following masters controversy with Scooter Braun
"Her whole business, her whole everything is her brand. ... This was just such an important strategic decision for her overall," Kelly says. "Honestly, even if she had to pay more, I think it was probably still the right move strategically."
Not to mention, the purchase also sends a powerful message − to the music industry and to other artists, both established and up-and-coming.
"She's opened the eyes of other music artists as well, and, because she's doing that, she's kind of pushing back on the industry," certified financial planner Monica Dwyer says. "It kind of feels like the industry is more powerful than the individual."
How to know when a big purchase is really worth it
Though most of us will never spend money like Swift, the pop star's business dealings carry important lessons about personal finance, mental wellbeing and what purchases are really worthwhile. Sure, we might not ever buy master recordings, but we may have to decide one day if we're going to buy a dream car. Or a dream home.
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Being able to discern when something matters enough to you to warrant its hefty price tag is crucial.
"Let's face it, a lot of our decisions are not made by the logical side of our brain," Dwyer says. "The richer and richer you become, the less you have to worry about those little incidental things. The cost of our home repairs, electric, gas, food, those kind of things are not a thought in Taylor Swift or very, very wealthy Americans' minds."
Here are some important considerations when deciding whether or not to make a big purchase:
Consider the staying power of what you're buying. "You can spend money in the sense that you go out, you go to a Peter Luger Steakhouse, you buy steak, you eat it, it's gone," Kelly says. "This is something that she's putting money into, and it's holding value the same way you buy into a house and that value goes up."
"You can spend money in the sense that you go out, you go to a Peter Luger Steakhouse, you buy steak, you eat it, it's gone," Kelly says. "This is something that she's putting money into, and it's holding value the same way you buy into a house and that value goes up." Ask yourself: Would I be OK if what I buy becomes worthless? "What happens if the value goes to zero?" Kelly says. "Is that something you can live with?"
"What happens if the value goes to zero?" Kelly says. "Is that something you can live with?" Give yourself time to think it over. "Sometimes what I'll do is, if I'm shopping on a website, I will put something that I want into the cart, but I won't buy it," Dwyer says. "I wait a week and I say to myself, 'Do you remember even what you put in that cart?' And if it's still something you want, and you remember it a week later, then it's worth purchasing."
Contributing: Melissa Ruggieri