Irish music and sports stars feel the recession's bite

Some of Ireland's top music and sports stars have been hit hard by the global recession, according to the latest Sunday Times rich list.

U2 have seen their combined wealth fall 14% to €470m, leaving them 12th on the Irish section of the list.

Michael Flatley, meanwhile, has seen his wealth fall by almost one-third to €273m, putting him 27th on the list.

Elsewhere, Eddie Irvine's wealth is also down by one third to €89m, but the retired Formula One driver remains Ireland's richest sportsman.