Saturday, April 25, 2009

The British Music Millionaires Rich List 2009

The list of the richest music millionaires of Briton was published by The Sunday Times for 2009. The top British music millionaires are as follows:

  1. Clive Calder (£1.3bn)
  2. Lord Lloyd-Webber (£750m)
  3. Sir Paul McCartney (£440m)
  4. Sir Cameron Mackintosh (£350m)
  5. Simon Fuller (£300m)
  6. Sir Mick Jagger (£190m)
  7. Sting (£180m)
  8. Sir Elton John (£175m)
  9. Keith Richards (£175m)
  10. Olivia and Dhani Harrison (£140m)
  11. Sir Tim Rice (£140m)

(Source: The Sunday Times)

Former record label boss Clive Calder is at the top of the Sunday Times' main music list with his £1.3 billion fortune, comfortably ahead of his nearest rival Lord Lloyd-Webber who has £750 million.

According to the Sunday Times, the wealth of most of Britain's top music millionaires has come down by at least 10%. For instance, Singer Sir Elton John was hit hard in his wealth that dropped by 26%, from £235 million in 2008 to £175 million in 2009. Similarly, Sir Paul McCartney, third in the list, came down from his worth of £500 million in 2008, to £440 million in 2009. The fourth place is held by theatrical impresario Sir Cameron Mackintosh, whose estimated wealth of £350 million fell by 22% on last year's valuation. Pop mogul Simon Fuller has £300 million in 2009 after losing £150 million.

There is a sharp decline in values of property investments and share portfolios in 2009, compared by their values in 2008, as a direct consequence of the financial meltdown, and this is the main reason for the music stars faring so poorly.

According to Ian Coxon, who edited the list, stars like former ‘Take That’ member Robbie Williams, who relied on investments for their wealth, had been the hardest hit. "Robbie Williams is run as a business, and there has been a profit fall in 2007, so that's had a knock-on effect," he said of the singer who has lost £25 million over the year according to the list.

In the list of young music millionaires, the combined wealth of Cheryl Cole and Ashley Cole placed them fourth. The Welsh pop star Duffy has also joined the wealthy young elites with her £4 million fortune placing her rated joint 16th in the list of young music millionaires. Katie Melua’s wealth came down by 44% and Amy Winehouse lost 50% on last year's estimates of wealth.

The “Mamma Mia!” producer Judy Craymer has seen her fortune rise to £79 million, mainly due to the huge box office success of her film musical based on the hit songs of Abba, swelling her bank balance by 29%.

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