
The British musician has a fortune estimated at $1.4 billion according to Forbes magazine.
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Paul McCartney is a historic member of the Beatles. His fortune is based on publishing rights and income from music catalogs.
He was born into a modest Irish family. His mother was a nurse and his father an amateur musician. Today, at 84, rock icon Paul McCartney joins the Olympus of billionaire artists. What a social climb. The business magazine Forbes recently estimated the fortune of the historic still living member of the Beatles, alongside Ringo Starr, at $1.4 billion. An astronomical figure making him the third richest musician in the world. In front of him, a few lengths away, Taylor Swift has some two billion dollars. At the top of the ranking, far ahead, American rapper Jay-Z, head of the company Roc Nation, is credited with more than 2.8 billion dollars.
According to Forbes, the majority of Paul McCartney's fortune comes from his publishing house MPL Communications, founded in 1969. It manages his entire catalog of songs composed during his solo career, as well as that of the artists signed to his labels. The British musician also acquired works by former rock'n'roll stars like Buddy Holly and scores of famous musicals performed on Broadway. All this brought him some 250 million dollars, explains the magazine.
350 million thanks to the Beatles
It's no wonder, the Beatles' creations represent a large part of his business. Each year, Paul McCartney receives 25% of the revenue from Apple Corps, the group's holding company. Its annual turnover, propelled by streaming, vinyl sales and derivative products, is estimated at $50 million, or $12.5 million for each of the rights holders, that is to say, Ringo Starr, Paul McCartney, the heirs of John Lennon and George Harrison. Personally, the musician pockets around $10 million every year for the copyrights to Beatles songs. In total, his artistic contribution to the group's works earned him $350 million.
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