SIR PAUL McCARTNEY and SIMON COWELL will be smiling through the economic slump - they’ve made millions in the last 12 months as the U.K
. music ind ustry shows the green shoots of recovery.
Last year (09), the global financial crisis hit record labels hard, wit h rockers including McCartney and Sir Elton John losing huge chunks of th eir fortune.
But the industry appears to be moving out of the slump - according to B ritain’s Sunday Times annual rich list, some top earners have seen their income soar in the last 12 months.
Beatles legend McCartney’s wealth rose to $712 million (=C2=A3475 milli on) from $660 million (=C2=A3440 million), while the Rocket Man’s fortune is at $277 million (=C2=A3185 million), an increase of $15 million (=C2=A3 10 million)
. Music mogul Cowell is now worth $247 million (=C2=A3165 mill ion) compared to $180 million (=C2=A3120 million) last year.
But it was a miserable 12 months for impresario Lord Andrew Lloyd-Webbe r - he lost $75 million (=C2=A350 million) from his $1.1 billion (=C2=A37 50 million) fortune.
The list is topped by Warner Music Group chief executive Edgar Bronfman , who became eligible by moving from New York to London last year (09) - pushing record label boss Clive Calder down to second place.
In the rich list of British music stars aged under 30, Girls Aloud sing er Cheryl Cole enjoyed a bumper 12 months - her blossoming solo career an d soaring exposure from her role as a judge on TV talent show The X Facto r caused her fortune to increase by a massive 150 per cent, to $15 millio n (=C2=A310 million)
. Charlotte Church tops the young rich list, with $16 ..5 million (=C2=A311 million).
The top ten musical millionaires in 2010, according to the Sunday Times , is:
1. Edgar Bronfman and family ($2.4 billion/=C2=A31.6 billion)
2. Clive Calder ($1.9 billion/=C2=A31.3 billion)
3. Lord Andrew Lloyd-Webber ($1.05 billion/=C2=A3700 million)
4. Sir Cameron Mackintosh ($950 million/=C2=A3635 million)
5. Sir Paul McCartney ($712 million/=C2=A3475 million)
6. Simon Fuller ($525 million/=C2=A3350 million)
7. Sir Mick Jagger ($285 million/=C2=A3190 million)
8. Sir Elton John ($277 million/=C2=A3185 million)
9. Sting ($270 million/=C2=A3180 million)
10. Keith Richards ($262 million/=C2=A3175 million)
Movie & Entertainment News provided by World Entertainment News Network (www.wenn.com)