The Sunday Times will be printing this year’s Music Rich List in this weekend’s edition. Here is a preview of who made the list and who’s on top :
The list get’s topped by Warner Music Group‘s Edgar Bronfman – the man at the helm since 2004. Bronfman’s recently moved to London from his home in New York and entered the list straight at number 1.
Zomba records owner Clive Calder will have to be happy with the # 2 spot after Bronfman’s estimated 1.64 billion pound estate relegated him to second while Lord Andrew Lloyd Webber came in third.
The list is based on the accounts of companies owned, information from the millionaires and interviews with their financial advisers.
In the under 30 Category the standout incomes came from performers such as Charlotte Church (photo), Katherine Jenkins and Leona Lewis – worth 11 million each. Lily Allen and Amy Winehouse also made the list according to BBC6 music.
Rock legends Sting, Mick Jagger and Elton John still dominated the overall top ten list though.
Philip Beresford who complies the list explains why:
“During the recession, when they go on tour particularly the wrinkly rockers on big stadium tours they seem to attract a lot of people who find going to watch music takes their mind off the awful conditions outside.
“They’re playing to packed stadiums, the people who like them are the ones with the money to pay the extortionate prices demanded by the stadium owners.
Ronnie Wood took a tumble in the list and dropped to number 46 this year after his divorce cost him around 15 million of his ‘wrinkly rockers’ earnings.
Paul McCartney is the fifth richest music name in the UK, down from third last year, despite being worth eight per cent more – £475million, as opposed to £440million in 2009.
X factor and American Idol brain child Simon Cowell saw his income surpass forty million pounds this past year which almost had him break the top 10. His financial success can be attributed to acts such as Leona Lewis who Cowell signed from the X factor – his worth is now around 165 million pounds
Media mogul buddy Simon Fuller however is still way ahead in the game and valued at 350 million pound raking in 50 million just last year.