Some of Britain's biggest music stars have seen tens of millions of pounds wiped off their personal fortunes in the current economic downturn, according to a report. Those affected by the credit crunch include Paul McCartney, whose personal wealth has decreased by £60 million over the past year.
He still has £440 million, but the plummeting value of property investments and share portfolios has resulted in a loss of 12 per cent in the last 12 months for the former Beatle.
Robbie Williams has also been hit. He's down 20 per cent from £105 million to £80 million – as has Cliff Richard. The veteran singer's fortune shrank by 20 per cent to £40 million. Jazz singer Amy Winehouse has also lost out, going from £10 million in 2008 to £5 million this year.
Other big names affected include Rocket Man singer Elton John, who in the same period lost a quarter of his wealth, meaning his fortune now stands at £175 million. Also contributing to Sir Elton's reduced bank balance were his charitable donations. He gave away £42 million to good causes last year.
According to the figures, which will be revealed in the Sunday Times newspaper's annual rich list this weekend, not everyone has lost out though. Victoria and David Beckham's huge earning power has helped their combined fortune remain steady at £125 million over the past year.
Photo: Alpha
Photo: Alpha
