By Richard Vines
Simon Cowell, the pop impresario known for TV shows such as American Idol, has amassed a fortune of £200 million ($308 million), enough to propel him into the Top 10 of UK musical millionaires, the Sunday Times said.
Cowell, 51, increased his personal wealth by £35 million over the past year, taking him to No. 6 from 11 in the music section of the Sunday Times Rich List, which will be published on May 8, the newspaper said.
“Simon Cowell owns a share of the programs he's involved in as well as being in front of the camera,” Rich List editor Ian Coxon said yesterday in a telephone interview. “He's busy behind the scenes and also responsible for many of the performers, so he's making pots of money in all directions.”
The annual Sunday Times Rich List is based on identifiable wealth, including land, property and other assets such as art and racehorses, or significant shares in publicly quoted companies, and excludes bank accounts, the paper said.
Simon Cowell from American Idol.
The music millionaires are led by South African-born Clive Calder, with a £1.3 billion fortune from the sale of Zomba Records in 2002. Andrew Lloyd Webber takes second place with £680 million, even though he managed to drop £20 million during the year, according to the Sunday Times. The third place is taken by his fellow impresario Cameron Mackintosh, whose wealth increased by £40 million.
New entries include Moya Doherty and John McColgan (£70 million), who own the show “Riverdance,” and AC/DC's lead singer, Brian Johnson (£50 million).
'X Factor'
The soprano Katherine Jenkins, 30, with £13 million, is the richest on the list of those aged 30 or under, followed by Cheryl Cole, a panelist with Cowell on The X Factor in the U.K., and Leona Lewis, who came first on that show in 2006.
A US version of The X Factor is planned. It hasn't yet been announced if Cole will appear as a judge. Cowell has left American Idol to work on the show.
Cole, Lewis and Katie Mehlua have £12 million apiece, the paper said. The top new entry among the young millionaires is Adele, a joint ninth, with £6 million . Taio Cruz and Florence Welch, each worth £5 million, are also new.
The members of U2 have a combined fortune of £455 million, up by £26 million. They head the Irish music millionaires.
Edgar Bronfman, chairman and chief executive of Warner Music Group, who topped the music list last year, has returned to the US and is excluded as a result, Coxon said.
The Sunday Times Rich List will appear in a supplement that profiles the 1,000 richest people and families in the UK and the top 250 in Ireland. It is compiled by Philip Beresford.
Top 30 music millionaires:
1 Clive Calder £1.3 billion
2 Andrew Lloyd Webber £680 million
3 Cameron Mackintosh £675 million
4 Paul McCartney £495 million
5 Simon Fuller £375 million
6 Simon Cowell £200 million
7 Elton John £195 million
8 Mick Jagger £190 million
9 Sting £180 million
10 Keith Richards £175 million
11 Olivia and Dhani Harrison £170 million
12 David and Victoria Beckham £165 million
13 Jamie Palumbo £150 million
13 Ringo Starr £150 million
15 Tim Rice £143 million
16 Tom Jones £140 million
17 Eric Clapton £125 million
18 Roger Ames £120 million
19 Phil Collins £115 million
19 Rod Stewart £115 million
21 Barry and Robin Gibb £110 million
22 Roger Waters £105 million
23 David Bowie £100 million
24 Ozzy and Sharon Osbourne £95 million
25 George Michael £90 million
25 Robbie Williams £90 million
27 David Gilmour £85 million
27 Brian May £85 million
27 Charlie Watts £85 million
30 Chris Blackwell £80 million
30 Robert Plant £80 million
30 Roger Taylor £80 million
(Richard Vines is the chief food critic for Muse, the arts and leisure section of Bloomberg News. Opinions expressed are his own.)