News May 11, 2018

Report: Paul McCartney richest UK musician, Adele tops young list with Ed Sheeran right behind

Staff Writer

The Sunday Times’ Rich List, to be published on the weekend, has Sir Paul McCartney topping the list with a fortune of £820 million (AU$1.4 billion).

He has remained the richest UK musician in the list’s 30 year history.

McCartney has amassed an extra £40 million in the past 12 months.

According to the Sunday Times estimate, half came from his share of The Beatles’ entry into streaming since 2015, and the other half from the world tour.

The 39 dates took him to Japan, Brazil, Mexico, Australia and the United States, grossing £100 million at the box office.

In McCartney’s case, his estimated fortune is even greater because his wealth is combined with that of his wife Nancy Shevell.

Her family owns US trucking giant New England Motor Freight, which generates sales of around £330 million.

The Youngest Musicians list gives a greater indication of the fast flyers.

Adele tops that list with 25 still selling despite already finding 20 million homes around the world.

She made an extra £15 million last year from record sales and world tour.

She is #18 on the general list.

But right behind is Ed Sheeran, although in the general list he is only at #35, tying with Gary Barlow.

Rita Ora enters the ranking for the first time… after only one album.

Robert Watts, compiler of The Sunday Times Rich List, said: “For years our music millionaires list has been dominated by older acts, such as The Rolling Stones and Sir Elton John, who have an older audiences able to pay a premium to see their favourite acts.

“But some of the biggest risers over the past year have been amongst younger acts such as Ed Sheeran, Adele and Calvin Harris.

“Streaming services, the internet and income from endorsements are helping today’s young musicians build an international following – and with it their fortunes – far quicker than the older rockers.

“We think it won’t be long before some of these relative newcomers will surpass the wealth racked up by rock legends who in some cases have been on stage for nearly half a century.”

THE RICH LIST

1. Sir Paul McCartney & Nancy Shevell £820m (up £40m)

2. Lord Lloyd-Webber £740m (no change)

3. U2 £569m (up £21m)

4. Sir Elton John £300m (up £10m)

5. Sir Mick Jagger £260m (up £10m)

6. Keith Richards £245m (up £10m)

7. Olivia & Dhani Harrison £230m (up £20m)

8. Sir Ringo Starr £220m (up £20m)

9. Michael Flatley £202m (up £2m)

10. Sting £190m (up £5m)

11. Sir Rod Stewart £180m (up £10m)