Taylor Swift Lost $125M in Brand Deals for ‘Big Endorsement’?

In mid-September 2024, a rumor began circulating online claiming that pop superstar Taylor Swift had lost $125 million in brand deals following a major endorsement. According to Esspots.com, “Within days of the announcement, some of the biggest brands in the world were backing away from their multi-million-dollar contracts with the star, hoping to avoid the PR mess Swift had inadvertently created.”

The rumor gained traction on social media, including the SpaceX Fanclub Facebook page, where a post featuring photos of Swift and U.S. Vice President Kamala Harris drew significant attention. Reactions were mixed, with one Swift supporter commenting, “Worthwhile tax deduction. You go, Taylor! Thank you!” Meanwhile, another user shared the post, writing: “Good, she needs to be exposed for the demonic influence she is.”

On the platform X (formerly Twitter), the rumor continued to spread, with one user posting, “Good, you ungrateful singer and movie stars.” Despite the growing online buzz, there was no credible evidence supporting the claim that Swift’s endorsement had led to any financial losses. No reputable news outlets reported on the matter.

In reality, the rumor stemmed from a satirical article posted by Esspots, a website known for its humorous and satirical content. The website’s “About Us” page clearly states, “Our team of writers and editors is dedicated to bringing you the latest and greatest in fake news and absurdity, all with a healthy dose of humor and satire.” The article in question was marked as satire, as was the image used in the SpaceX Fanclub Facebook post.

The rumor surfaced in response to Swift’s endorsement of Kamala Harris, which the singer had posted to Instagram on September 10, 2024. However, the Esspots article did not mention Swift’s political statement at all. Instead, it humorously claimed Swift had endorsed “a vegan cryptocurrency,” using an image of Harris alongside Swift to suggest a political endorsement.

Although Swift was previously reported to have had talks with cryptocurrency exchange FTX before its collapse in 2022, no deal was ever made, and Swift has not been associated with any cryptocurrency since.

Esspots also referenced Swift’s long-standing brand partnerships with companies like CoverGirl (announced in 2010) and Coca-Cola (announced in 2013). However, there was no evidence that these partnerships had been affected by Swift’s endorsement of Harris, nor any cryptocurrency.

This is not the first time Swift has been the subject of false claims. In the past, Snopes has debunked rumors such as former President Donald Trump allegedly saying Swift would “pay a price” for endorsing his opponent, and a claim that Swift’s boyfriend, Kansas City Chiefs player Travis Kelce, told Elon Musk on X that he would “twist him into a pretzel.”