The consumer genetics testing company 23andMe has been generating headlines in 2024. Unfortunately, those headlines are about the company’s inability to generate money.

According to the Wall Street Journal, Nasdaq is threatening to delist 23andMe because its stock price has fallen below one dollar. That’s quite the U-turn for a company that was once (although only briefly) valued at $6 billion.

To put things in perspective (and to capitalize on clickbait for last night’s Grammy Awards), let’s compare the dramatic rise and fall of 23andMe’s market cap to the net worth of Album of the Year winner Taylor Swift.

2021

For those who don’t remember, 2021 was a fun time. COVID was still raging, the U.S. Capitol had recently been ransacked, and inflation was just starting to ramp up.

Actually, 2021 was awful. But not for everyone.

23andMe’s Market Cap = Between $3.5 and $6 Billion

2021 was a lot less awful if you were Anne Wojcicki, the CEO and co-founder of 23andMe. That’s because she was partnering with Richard Branson to take her company public.

At the time of the IPO, 23andMe was valued at $3.5 billion. And after it went public, its market cap climbed to $6 billion. That’s pretty impressive for a company that involves saliva.

Taylor Swift’s Net Worth = $400 Million

2021 was also less awful if you were Taylor Swift.

The pop icon was the top artist on Spotify with 9 billion streams. She was also named Billboard's Greatest Pop Star of the year.

More importantly, her net worth was estimated at $400 million. That’s certainly nothing to sneeze at, but it was still a far cry from Wojcicki, who was being described as the “newest self-made billionaire.”

2024

Now it’s 2024, and things are arguably better. Covid restrictions are long gone, political rioting is down (at least for now), and inflation seems to be back under control.

Of course, AI is about to take over the world, but that’s a story for another article (and that article will probably be written by ChatGPT).

Let’s take a look at how Wojcicki and Swift are doing.

23andMe’s Market Cap = $331.26 million

The company’s stock is currently valued at $0.69 a share, down from a high of $16.04, and the company has yet to turn a profit. This comes despite the fact that a quarter of the company’s staff were let go last year.

There are even fears the company could run out of money as soon as next year if things don’t pick up (which hopefully they do).

The company’s current market cap of $331.26 million is over 20% less than Taylor Swift’s net worth from 2021.

Taylor Swift’s Net Worth = $1.1 billion (or maybe just $800 million)

Speaking of Swift, you’re probably well aware that she’s doing quite well for herself. The reason you’re probably aware of this is because it’s impossible to get away from her, even on event trading platforms.

Her Eras Tour grossed more than $1 billion in 2023 alone, and she was named Time’s Person of the Year. She’s dating NFL star Travis Kelce, who is about to play in next week’s Super Bowl. And she just became the first person to ever win a Grammy for Album of the Year four times.

But most importantly, Bloomberg recently placed her net worth at $1.1 billion.For the record, CelebrityNetWorth.com claims this figure is overblown, and the actual number is closer to $800 million.

But either way, she’s currently worth more than double the market cap of 23andMe.

What accounts for the dramatic reversal of fortunes? Bad luck for 23andMe? Good genes for Taylor?

Either way, perhaps now is a good time for Swift to invest some of her wealth in the genetic testing business. If anyone can turn 23andMe around, it’s probably her.

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