Baby you’re a rich man... Macca tops music’s money list
MUSIC legends Paul McCartney and Andrew Lloyd Webber sing from the same hymn sheet when it comes to a rich list – with a staggering £800million each.
But the old boys – a Beatle Sir Paul is 77 and composer Sir Andrew 72 – have youth snapping at their heels.
Raunchy Barbadian singer Rihanna has joined the Sunday Times Rich List as a new entry in third place.
Now based in London, the 32-year-old has amassed a fortune of £468million – and is tipped to become the list’s first billionaire musician.
According to the figures, Sir Andrew is expected to take a £20million hit to his fortune as a result of the coronavirus crisis.
That comes after the closure of his theatres in the West End and on Broadway, compilers reckon.
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He topped the list alone in 2019, with a fortune of £820million.
Sir Paul’s wealth has increased year on year, up from £750million last year, aided by 29 concerts which scooped more than £92million.
He also released a charttopping album, Egypt Station.
Singer Rihanna has amassed her fortune thanks to the success of her cosmetics and fashion brand Fenty, for which she has partnered with luxury goods powerhouse LWMH, and other commercial interests.
The brand, launched in 2017, is valued at £2.8billion, making Rihanna’s reported 15 per cent stake worth £351.6million. She has parachuted into the list ahead of 73-year-old Sir Elton John, whose farewell tour saw his wealth boosted by £40million in a year to £360million, putting him fourth on the list.
List compiler Robert Watts said: “Once dominated by inherited wealth, the bulk of our 1,000 entries are now self-made people with modest, and even troubled, starts in life who work exceptionally hard.
“Still only 32, if Rihanna remains based in the UK she could well pip Sir Paul and Lord Lloyd-Webber to be the Rich List’s first billionaire musician.”
However, he said the Covid-19 outbreak has wrecked concert plans and he expects the wealth of many musicians to flatline over the coming year.
Rolling Stone Sir Mick Jagger is in fifth place, with £285million, while with fortunes of £270million Olivia and Dhani Harrison – the widow and son of Beatle George Harrison – share sixth spot with Sir Mick’s bandmate Keith Richards.
A gruelling touring schedule boosted Ed Sheeran’s fortune to £200million. He shares 10th spot with Sir Rod Stewart and Sting.
●The Sunday Times Rich List is published on Sunday.