Top 10 Richest Musicians in UK 2023 [ Forbe Ranking]. The British music scene stands out for its unparalleled diversity and energy, drawing inspiration from across the globe.
From legendary groups like The Beatles and The Rollins Stones to contemporary artists like Ed Sheeran, British musical talents consistently infuse fresh elements into the industry.
The most financially successful British musicians hail from diverse backgrounds, each contributing their own unparalleled musical brilliance to the field. Collectively, the wealthiest UK musicians possess a net worth exceeding double that of the nation’s highest-earning actors.
This outcome isn’t unexpected, given that many of these individuals have showcased their talents for numerous decades, some even well into their 80s.
While these artists already hold impressive fortunes, their wealth is poised to soar even higher in the forthcoming years as they continue to release groundbreaking tracks that define genres.
Here is the compilation of the ten most prosperous British musicians, based on The Times’ data:
Top 10 Richest Musicians in UK– Sir Paul McCartney (and wife Nancy Shevell): £900 million
It’s not surprising that a member of The Beatles claims the top spot on the list. The Liverpool-born band stands as perhaps the most renowned group originating from the UK. Even at 80 years old, this musician continues to amass substantial earnings annually, stemming from both album royalties and his individual performances.
Just last year, he received a handsome sum of £200,000 for his appearance at Glastonbury. Adding to his prosperity, his autobiography released in 2021, titled “The Lyrics,” managed to rake in an impressive £3 million within its first four days of hitting the shelves.
On a personal note, Paul’s spouse, Nancy, whom he tied the knot with in 2011, has her own story. While she isn’t directly connected to the business realm, her wealth comes from her family’s enterprise, New England Motor Freight.
However, the company faced financial difficulties and declared bankruptcy in 2021.
Despite these setbacks, Nancy’s net worth is still roughly estimated at £160 million. Taking everything into account, Paul’s individual fortune stands at an impressive £900 million.
Lord Andrew Lloyd-Webber: £500 million
English composer Andrew Lloyd-Webber, aged 75, is famed for creating numerous iconic stage musicals, including Joseph and the Amazing Technicolor Dreamcoat, Jesus Christ Superstar, Cats, Starlight Express, and Phantom of the Opera.
In 1997, Lloyd-Webber was granted the title of Conservative Life Peer. Despite his infrequent participation in the House of Lords, he reappeared in 2015 after a gap of over two years.
During this appearance, he cast his vote in support of reducing tax credits for the nation’s lowest-earning workers. His active role as a Lord came to an end in 2017.
It is estimated that Webber’s annual income from his musicals and their film adaptations reaches approximately £40 million.
Sir Elton John: £400 million
“Tiny Dancer” has been captivating audiences since the 1960s, boasting an impressive and lengthy career.
Among his accomplishments, the reimagined version of his 1974 hit “Candle in the Wind,” created for Princess Diana’s funeral, stands out as the highest-selling single on the charts, with over 33 million copies sold worldwide.
Despite amassing substantial wealth, Elton John dedicates significant amounts of money to charitable causes. By 2018, his donations had amounted to an impressive £301 million, as reported by UK Fundraising, ranking him among the most generous contributors in the UK that year.
Elton’s financial situation also received a boost from the biographical musical film “Rocketman,” and his farewell tour achieved an unprecedented gross of £660 million. The exact portion he personally received from this sum remains undisclosed.
Sting: £350 million
The lead singer of the band Police, Sting, who’s also a key earner in the group, is famous for his hit songs like Every Breath You Take, Roxanne, and Don’t Stand So Close to Me.
Recently, he struck a major deal with Universal where he sold the rights to all his past music, including his solo projects and Police hits, for a whopping estimated price of £240 million.
Despite his success, Sting faced a setback when he invested about £12 million in his musical “The Last Ship,” but unfortunately didn’t make that money back.
Nevertheless, there’s no need for Sting to stress about it, as his company, Steerpike Limited, which supports activities in the performing arts, managed to rake in around £100 million in the year 2021, even when the pandemic caused disruptions in many areas.
Interestingly, Sting’s net worth surpasses that of his former bandmates, Andy Summers and Stewart Copeland, who together are valued at roughly £145 million.
Sir Mick Jagger: £318 million
Mick Jagger, the lead vocalist and original member of the iconic rock ensemble The Rolling Stones, remains an integral figure in the band’s enduring legacy.
Recognized for timeless hits like “(I Can’t Get No) Satisfaction,” “Paint It, Black,” and “Gimme Shelter,” Jagger’s connection with fans persists strongly. Remarkably, he continues to rake in an impressive annual income of approximately £1 million solely from downloads on Spotify.
Jagger’s financial inflow doesn’t stop there. He adds to his revenue through diverse streams such as merchandise sales, live tours, and involvement in film production. Notably, he holds producer credits on notable films like “Enigma,” “Crossfire Hurricane,” and “The Women.”
His musical contributions have also graced the soundtracks of films like “Children of Men,” “V for Vendetta,” and “Alfie.” This multifaceted approach to his craft has solidified Jagger’s position as an influential musician and entrepreneur.
Keith Richards: £303 million
The co-founder and guitarist of The Rolling Stones, Keith Richards, comes second on the wealthy musician’s list, trailing his bandmate Mick Jagger by £15 million.
Much like Jagger, Richards earns a substantial amount from Spotify streams and their tours. In 2018 alone, the band raked in approximately £93 million from 14 tours. Despite all three members being in their 70s, the group continues to actively tour.
Ronnie Wood, who joined the band in 1975, has some ground to cover with a net worth of about £160 million.
Olivia and Dhani Harrison – £295 million
The wife and son of the deceased lead guitarist of the Beatles, George Harrison, have made it onto the list due to their combined net worth of £295 million.
George’s son, Dhani Harrison, has been active in the music industry since 2001, following in his father’s musical footsteps. Dhani initially started his career at McLaren but later decided to contribute to his father’s Brainwashed album.
He also became a part of three bands: Thenewno2, Traveling Wilburys, and Fistful of Mercy. Even though George Harrison passed away in 2001, his estimated worth at that time was around £320 million.
Dhani’s mother, Olivia, isn’t a musician herself but has worked in music industry marketing.
Sir Ringo Starr – £285 million
Ringo Starr, a member of the iconic band The Beatles, remains a consistent earner, securing millions annually from the band’s extensive collection of music.
Notably, he holds the title of the wealthiest drummer ever. Apart from his work with the band, he has launched a successful solo career with 20 albums, contributing significantly to his wealth.
Starr’s live performances also contribute substantially to his income, as he pulls in approximately £240,000 for each night he performs. These shows have been a regular occurrence for the past two decades, adding to his financial success.
Moreover, Ringo Starr is a notable figure in the music publishing realm, being the majority owner (at least 75%) of Startling Music, a company he established back in 1968.
Ed Sheeran – £285 million
Ed Sheeran, renowned for his albums with numerical themes, stands out as the youngest self-made millionaire among his peers.
The bulk of his riches stems from his four major albums. Alongside this, he boasts an impressive fan base of 50 million primarily on Spotify, generating approximately £7 million in yearly earnings from the platform.
Diversifying his income, Sheeran’s extensive touring history includes over 1,000 shows. He also garners profits from merchandise sales. Beyond his musical pursuits, he established Gingerbread Man Records in 2015 and introduced his own establishment, Bertie Blossoms, a bar located in Notting Hill, in 2019.
Calvin Harris – £220 million
Calvin Harris holds the title of the wealthiest DJ globally. He’s famous for his successful partnerships with various artists like Rihanna, Sam Smith, Pharrell, Katy Perry, and Dua Lipa. Notably, he earned a remarkable £11 million from Spotify by 2021.
In 2018, he secured a residency in Las Vegas, pocketing an impressive £320,000 for each performance. Over a span of three years, this residency turned out to be incredibly lucrative, estimated to have brought in around £160 million for the talented DJ.