It’s a beautiful pay day for U2

ONCE again U2, the world’s highest-earning act, top the Irish music rich list, with Westlife joining the top five for the first time.

The 2010 Sunday Times Music Rich List puts U2’s total wealth at £429 million (€690m) – up some £5m on last year. The band was the highest-earning act in the world last year.

The remainder of the top five remains the same as 2009, with Michael Flatley (£241m), Enya (£85m), Van Morrison (£50m) and Chris de Burgh (£31m) following U2 in that order.

However, also into the mix have come Louis Walsh proteges Westlife, who take joint fifth place with Chris de Burgh with total earnings of £31m.

However, these are a far cry from those in the top spots in the British music millionaires chart.

Chairman and chief executive of the Warner Music Group, Edgar Bronfman, goes straight to the top with a fortune of more than £1.6 billion.

The billionaire, who moved from Britain to New York, so his children can experience life abroad for two years, made his fortune partly as a result of his family’s past ownership of the Seagram drinks empire.

Mr Bronfman is ranked 25th in the 2010 list of the 1,000 richest people in Britain and this year pushed former Zomba record company owner Clive Calder into second place in the music millionaires’ list.

London theatre impresario, Sir Cameron Mackintosh, is at number four on the list after his fortune rose by 80% last year to £635m.

He is one place behind Andrew Lloyd Webber who lost £50m last year, although he is still comfortable sitting on £700m.

The remainder of the top 10 list contain legends such as Paul McCartney, Mick Jagger, Keith Richards, Sting and Elton John.

X Factor creator Simon Cowell just misses out on the top 10, although his fortune rose from £125m to £160m last year.

Charlotte Church tops the young music rich list (aged 30 and under), along with Katherine Jenkins and Leona Lewis, all of whom have a wealth of £11m.


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