Sunday Times Rich List: Paul McCartney first British music billionaire

Sunday Times Rich List: Paul McCartney first British music billionaire

Successful tour and probably the last Beatles song: things went well for Paul McCartney in 2023. This has a financial impact. The musician isn’t the only Brit whose fortune has increased.

According to estimates by the Sunday Times newspaper, ex-Beatle Paul McCartney is the first musician in Great Britain with a fortune of more than one billion pounds (1.17 billion euros). The 81-year-old benefited from his tour in 2023, the increase in the value of his back catalog and a Beyoncé cover version of his song “Blackbird”, the paper reported.

Additionally, the Beatles’ two compilation albums were re-released with 21 new tracks added. Finally, the famous band released what was probably their last recording, “Now And Then”. The newspaper estimated that Sir Paul’s fortune had increased by 50 million pounds compared to the previous year to now one billion. The traditional Sunday Times Rich List is based on research by editors and estimates and is considered reliable.

Other artists such as Elton John are also estimated to be among the wealthiest people in Great Britain. The “40 Richest Under 40” includes other musicians: Ed Sheeran, Harry Styles, Adele and Dua Lipa. “Harry Potter” author JK Rowling is just under the billion-dollar threshold at 945 million pounds. The 58-year-old also appears in the list of the most generous donors: last year she donated a total of 17.9 million pounds, primarily to protect women and children.

The king is also gaining ground

King Charles III is number 258 on the rich list. with an estimated fortune of £610 million, up 10 million on the previous year. The British head of state has surpassed his mother Queen Elizabeth II in this respect. After his divorce from Princess Diana, Charles rebuilt his finances and increased his vast royal possessions. The royal estates Balmoral Castle in Scotland and Sandringham in Eastern England are private property of the monarch.

The Sunday Times admitted, however, that in the case of the king the estimates were particularly complicated. The royal family holds numerous amounts of valuable art and jewelry and – partly through its property managers Crown Estate and the Duchy of Lancaster – large estates. However, the “Times” emphasized that these goods did not belong to the king personally, so they were not included in the list.

The richest nobleman is the Duke of Westminster, Hugh Grosvenor, with an estimated fortune of 10.13 billion pounds. The king’s godson, who is not related to the royal family, is a large landowner and owns the Grosvenor Estate with land in England and Scotland as well as several properties in posh London districts such as Belgravia and Mayfair.

Richest Prime Minister in History

According to estimates, British Prime Minister Rishi Sunak and his wife Akshata Murty are also wealthier than the king, if only a little. The couple are ranked 245th with £651 million – an increase of around £150 million. According to the Sunday Times, this was mainly due to the fact that the value of Murty’s shares in the Indian IT group Infosys, which her father had co-founded, increased significantly.

Sunak, who earned a lot of money as an investment banker before his political career, is considered the richest prime minister in history. However, according to surveys, he and his conservatives are at risk of a devastating defeat in the coming parliamentary elections.

Number of billionaires is falling

With a fortune of around 37.2 billion pounds, the entrepreneur Gopi Hinduja and his conglomerate Hinduja Group are considered the richest person in the United Kingdom. According to the information, the overall number of billionaires fell for the second year in a row, now to 151.

One reason, experts say, is that the government wants to limit a loophole that allows people to avoid paying taxes in Britain on their income abroad. Several entrepreneurs have already moved their residence to countries with lower tax rates. Luxury property prices in London are so high that many wealthy people fear their investments will not pay off. Added to this are high inflation and weaker economic growth.

Source: Stern

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