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Oasis defy credit crunch, Paul McCartney feels pinch

...Noel and Liam Gallagher defy the economic crisis

Musicians including Paul McCartney, Elton John and music guru Simon Cowell have lost millions thanks to the economy's downturn, according to the annual Sunday Times Music Millionaires Rich List 2009.

However, Noel and Liam Gallagher of Oasis (jointly) are one of only three in the list to post increases in wealth in the past year. The Oasis brothers upped their wealth by 16 per cent from £45million to £52million.

The list, which is published in full this Sunday (April 26), states Elton John has seen his fortune drop by 26 percent from £235million in 2008 to £175 million this year. Paul McCartney is down by £60million this year, from £500million to £440million.

As well as the economic crisis, poor investments and a fall in property prices are being blamed for the slump.

The Music Millionaires Rich List 2009 Top Ten is as follows:

1. Clive Calder (£1.3billion)
2. Lord Lloyd-Webber (£750million)
3. Paul McCartney (£440million)
4. Cameron Mackintosh (£350million)
5. Simon Fuller (£300million)
6. Mick Jagger (£190million)
7. Sting (£180million)
8. Elton John (£175million)
9. Keith Richards (£175million)
Joint 10. Olivia and Dhani Harrison (£140million)
Joint 10. Sir Tim Rice (£140million)

 

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Comments (6)

Tyerone 

Apr 24, 2009

Paul McCartney lost £24 mil. last year to Mucca? Or are last year's numbers post-divorce as well. Still means he lost a fair bit. It's a hard life, ey?

russellbrown181 

Apr 24, 2009

oh dear, there all on the poverty line. Good job there stopping free downloads or they'd all go hungry!

danpreen 

Apr 24, 2009

and they say illegal downloads hurts the artists pocket

a55h01e 

Apr 24, 2009

4,140,000,000! in just the top 10! OK, so the next time we hear one of these clowns moaning about world poverty and asking us to buy their charity concert ticket to help out, I know what MY response is gonna be...and as far as the illegal downloading thing goes, end of argument, I'm off to find the next Pirate Bay. 4 billion indeed!

jbhitter24 

Apr 27, 2009

Mick Jagger should be thanking Richard Ashcroft and the rest of The Verve for a chunk of that cash

criticismrocks 

Apr 27, 2009

Yesss! It's working!! Keep it up, people x

Tell us what you think. We’ll print the best responses in the NME letters page each week.

Benicassim looks set to be (even more) overrun with Mancunians this year as Oasis have been booked to play. Oasis last played the event in 2005. To get tickets head over to NME.COM/GIGS now.
Pic: Dean Chalkey

Pic: Dean Chalkey

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