Paul McCartney becomes third richest musician in the world

Paul McCartney becomes a billionaire, making him the world’s third-richest musician behind Jay-Z and Taylor Swift.

Paul McCartney has joined a very elite club by becoming a billionaire.

According to Forbes, which cites citing his catalogue, legal manoeuvers, tours and art collection as the bulk of his fortune, the 84-year-old ex-Beatle has a net worth at approximately $1.4 billion.

With this ranking, he becomes the world’s third-richest musician behind Jay-Z with $2.8 billion and Taylor Swift with $2 billion.

According to Forbes, a sizeable chunk of McCartney’s fortune comes from MPL Communications, his publishing company that he launched in 1969 and manages his own catalogue as well as other artists’ copyrights.

The publication notes that McCartney’s acquisition of catalogues from artists like Buddy Holly, plus Broadway musical scores and Christmas standards like ‘Baby, It’s Cold Outside’ and ‘Blue Christmas’, contribute significantly to his wealth.

As one-fourth of the Beatles, McCartney gets 25 per cent of earnings from the Beatles’ Apple Corps holding company, which generates $50 million annually from streaming, vinyl sales and merch. Forbes estimates that the income stream is worth more than $150 million for each member or their estate.

McCartney remains active as a musician, most recently releasing his 20th solo album ‘The Boys of Dungeon Lane’ this year.

In Euronews Culture’s review of ‘The Boys Of Dungeon Lane’, we wrote: “It may not be a late-period masterpiece, but McCartney achieves what he sets out to do: unabashedly embrace the past, take a trip down its long and winding road, and delight in remembrance. All without toppling into maudlin territory.”

McCartney scored his first ever Mercury Prize nomination this year for the album, and in recent news, a huge immersive Beatles fan experience will open in Liverpool in 2028 – one to rival Graceland and Dollywood.

Source: www.euronews.com