Pretty penny lane: Sir Paul McCartney becomes first UK billionaire musician
Sir Paul McCartney has become Britain’s first billionaire musician on the back of his latest tour and continued success of the Beatles’ back catalogue.
The 81-year-old’s finances have risen by £50 million to hit the £1 billion mark according to the 2024 Sunday Times Rich List. It follows his successful 2023 Got Back Tour and recent Beatles releases including two revamped compilations and a new song — Now and Then — put out last year while Beyoncé covered his song Blackbird.
Also on the annual list is Harry Potter author JK Rowling, with an estimated wealth of £945 million.
The 58-year-old, who wrote the Cormoran Strike series under the name of Robert Galbraith, also made the “top 30 giving list” after donating £17.9 million to causes relating to children and women in the past 12 months. Sir Elton John, whose fortune is estimated at £470 million, donated £26.6 million over a one-year period to causes including HIV/Aids and the arts.
The statistics also track the rise of a new generation of celebrities named in The Sunday Times 40 Under 40 Rich List, with 33-year-old Ed Sheeran the richest young musician in the UK with a fortune of £340 million.
The next wealthiest young British pop star is former One Direction star Harry Styles, who has made £175 million through his music and film career including an appearance in Christopher Nolan’s Second World War epic Dunkirk.
His wealth puts him just ahead of Adele whose £170 million fortune was bolstered by her residency at The Colosseum at Caesars Palace in Las Vegas.
Harry Potter actor Daniel Radcliffe and singer Dua Lipa are both said to worth £90 million but topping the list is Hugh Grosvenor, the seventh Duke of Westminster, with £10.1 billion. The 33-year-old, who is Prince George’s godfather, inherited his title and a vast land and property portfolio at the age of 25.
The list also revealed a fall in the number of British billionaires from 171 in 2023 to 165 this year while the combined wealth of the UK’s 350 wealthiest individuals and families was estimated at £795.36 billion. It was topped again by Indian businessman Gopi Hinduja and his family, whose wealth rose to £37.2 billion from £35 billion.
Robert Watts, who compiled the list, said: “Despite the tougher business environment, we have many impressive entrepreneurial stories in this year’s Sunday Times Rich List. We know readers are particularly fascinated by those from humbler backgrounds who start their own businesses, work hard and go on to build profitable businesses.
“Our 40 under 40 list includes individuals who have quickly built fortunes from fashion, vodka, sport, and increasingly the tech sector and AI. Many of these young guns are already employing hundreds of people and some will go on to be the future of the British economy.”
