Ed’s €25million pay in ONE year... after releasing ONE single
(that’s changed the shape of his bank balance)
POP superstar Ed Sheeran paid himself £21.4million (€25million) last year, even though he released only one single, Afterglow.
The Galway Girl singer, who was ‘on a break’ from music after getting married and having a daughter, more than doubled his pay, from £10million in 2019.
Newly published accounts for the 30year-old’s business, Ed Sheeran Ltd, firmly establish him as Britain’s best-paid pop star under the age of 30.
They also show he paid a staggering £6.62million in income tax.
The company’s corporation tax bill was £4.41million on a turnover of £31.6million.
‘Best-paid pop star under 30’
With no touring during the pandemic, the money came from song writing royalties and music sales.
Sheeran’s property empire is also making him a pretty penny. The latest accounts for Sheeran’s Maverick Properties Ltd show its assets surpassed £38million in 2020, after he added £3million worth of housing and other buildings.
The musician, who has an estimated fortune of over £200million, was praised in April when he refused to furlough the staff at his restaurant and bar in Notting Hill, west London. Rather than using the taxpayer-funded scheme, he paid the wages from his own pocket. He recently spoke of the trials and tribulations of running a pub during the pandemic. ‘It’s had a rocky start as it opened two months before the pandemic,’ he said. ‘If you’re looking to make a small fortune in the food industry, you should start with a large fortune.’
The hit-maker, who became a father to daughter Lyra last year, owns a sprawling Suffolk estate and a mansion in London along with two properties in Covent Garden and a pair of flats in Battersea.
The grounds of his country estate include an £850,000 modern home, a 16th century farmhouse he bought for £450,000, a £925,000 four bedroom house, a £525,000 bungalow and a pub he built in 2017.
It is likely Sheeran will make even more money next year as his hiatus ends, with a new album and tour planned. The Mathematics Tour is planned for Ireland, the UK, Central Europe and Scandinavia, and will be the first time Sheeran has hit the road since his two-year Divide Tour, which ended in 2019.
His most recent single, Bad Habits, has spent 11 weeks at number one.