InfoAnda - Paul McCartney And Elton John's Riches Decrease $87 Million

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Home | News Briefs | U.S. | World | Celeb Buzz | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird & Offbeat Paul McCartney And Elton John's Riches Decrease $87 Million April 24, 2009 6:17 a.m. EST Anne Lu - Celebrity News Service News Writer London, England (BANG) - Sir Paul McCartney and Sir Elton John have both lost $87 million in the last year. The two musical legends have felt the effects of the current economic crisis and seen millions wiped off the value of their investments, new information has revealed. Paul has been hit hard by a fall in the value of property and shares. His divorce from Heather Mills also cost him $48 million. However, he is still worth around $640 million. Elton saw his fortune decline from ?238 million [$345 million] to ?175 million [$255 million] after losing out to the recession and giving an estimated ?42 million [$60 million] to charity. Sunday Times Rich List Editor Ian Coxon, who compiled the list, said: "Wealthy stars have taken a similar hit to the rest of the population." According to the list, Rolling Stones star Sir Mick Jagger experienced a 16 percent loss, seeing his assets fall to ?190 million [$277 million], while "Angels" singer Robbie Williams is worth ?80 million [$117 million], down from ?105 million [$153 million] after failing to release any new material. Coxon said: "Robbie Williams is run as a business and there has been a profit fall in 2007, so that has had a knock-on effect. He has never quite fulfilled the promise he had a few years ago." The man behind the Spice Girls, Simon Fuller, lost a staggering ?150 million [$220 million] - but is still worth ?300 million [$440 million]. Not all celebrities have been hit by the economic downturn. Music mogul Simon Cowell made an impressive ?35 million [$50 million] profit, while Girls Aloud beauty Cheryl Cole - who was a judge on his hit British TV talent show "The X Factor" - saw her wealth rise by ?2 million [$3 million]. Previous winner of the U.K. program Leona Lewis also made ?2 million [$3 million], and Oasis rockers Liam and Noel Gallagher saw their earnings boosted by ?7 million [$10 million] collectively. Topping the list of the richest people in music with ?1.3 billion [$1.9 billion] was Clive Calder, founder of the Zomba Music Group, which was sold to Bertelsman AG in 2002. The full 2009 Times Rich List will be released on Sunday (26.04.09). Sunday Times Rich List top 10 music millionaires: 1. Clive Calder, ?1.3 billion [$1.9 billion] 2. Andrew Lloyd-Webber, ?750 million [$1 billion] 3. Sir Paul McCartney, ?440 million [$640 million] 4. Cameron Mackintosh, ?350 million [$511 million] 5. Simon Fuller, ?300 million [$440 million] 6. Sir Mick Jagger, ?190 million [$277 million] 7. Sting, ?180 million [$260 million] 8. Sir Elton John, ?175 million [$255 million] 9. Keith Richards, ?175 million [$255 million] 10. Olivia and Dhani Harrison, ?140 million [$204 million] Copyright © 2003 - 2009 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Home | News Briefs | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat © 2009 AHN Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services All Rights Reserved

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