The current economic downturn has been hard on everyone, but no one expects the world’s richest rock bands to do without their imported organic farm-raised caviar.
However, a report in U.K.’s Sunday Times newspaper indicates that the music business’s top earners might want to prep some more deluxe box sets to sell. Over the past year, Paul McCartney, Elton John, and Mick Jagger have all seen their bank accounts dwindle, according to the paper’s latest “Rich List.”
Elton John’s wealth dropped more than a quarter, from £235 million ($344.8 million) to £175 million ($256.8 million).
Paul McCartney lost £60 million ($88 million), a 12% decline from last year. He’s down to a paltry £440 million ($646.4 million). Mick Jagger lost 16% of his fortune, and now only has £190 million ($278.8 million) lining his pockets.
Troubled artist Amy Winehouse lost half her earnings last year, and is down to her last £5 million ($7.3 million). But Judy Craymer, producer of the musical “Mamma Mia!” saw her earnings grow by 29% to £75 million ($110.1 million) following last year’s movie adaptation.