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NewsNovember, 10 Paul McCartney joins the billionaire club
Paul McCartney is a billionaire. Forbes put his fortune at roughly $1.4 billion (£1 billion) on Monday, which places the Beatles legend third among the world's richest musicians. Only JAY-Z, with about $2.8 billion (£2 billion), and Taylor Swift, on an estimated $2 billion (£1.4 billion), sit above him. McCartney's representatives have not responded to the report. Most of the money, according to Forbes' analysis, comes from MPL Communications, the publishing company the British singer-songwriter set up in 1969. The outlet calls it his "biggest business" and values it at "at least a quarter of a billion dollars". Besides his own solo catalogue, MPL holds the rights to a long list of well-known songs, among them Carl Perkins's 1955 hit Blue Suede Shoes, The Four Seasons' Big Girls Don't Cry, and festive favourites such as It's Beginning to Look a Lot Like Christmas and Baby, It's Cold Outside. There is also the Apple Corps holding company. After lengthy talks with label executives, McCartney and Ringo Starr each receive a quarter of its earnings, while the remaining half goes to the estates of the late John Lennon and George Harrison. Streaming, vinyl and merchandise income could make each share worth "more than $150 million (£111 million) apiece". Other sources of income include his tours, property in the U.K. and the U.S., and a large art collection featuring works by Magritte and Picasso. In May he released his twentieth solo album, The Boys of Dungeon Lane.
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