Taylor Swift is the newest member of the billionaire's club as per Forbes, who included the 'Cruel Summer' singer in their annual writeup of the wealthiest people. Stephen Colbert previewed on his show that this news will impact her upcoming 11th studio album.
He informed the audience, "So get ready for her new album, about her on-again, off-again love affair with the tax code, 'Tortured Accountant's Department.'"
Colbert then revealed an edited version of the artwork for Swift's 'Tortured Poet's Department.' The new image displays the singer holding a book titled 'IRS Loopholes Vol. 1.'
After announcing Swift's latest achievement ("Tay-Tay is a billio-nay-nay," Colbert sang), the host pointed out that the singer entered the list alongside former Lakers star Magic Johnson, designer Christian Louboutin, and Law & Order creator Dick Wolf.
"Oh yeah, Dick Wolf's a billionaire now," Colbert commented. "Explains that new opening sequence." The screen then cut to a supposed "Law & Order intro" that featured a voiceover saying, "In the criminal justice system, blah, blah, blah. Who cares? I'm in Monaco, b–ch. Ka-ching, ka-ching."
There's another familiar name on the list. "Coming in at number 1,438, is Donald Trump," Colbert informed the audience amidst a chorus of boos. "He's the only billionaire on the list who lists his occupation as Bible salesman, comma, defendant."
Swift is the first to make the list solely based on money earned from her music and recordings. Johnson's investment deals in teams like the Los Angeles Dodgers and Los Angeles Sparks contributed to his billionaire status.
Watch the clip from "The Late Show with Stephen Colbert" in the video above.