Paul McCartney has officially joined Forbes’ list of billionaire musicians, securing a spot among the publication’s top three wealthiest artists.
According to the financial publication’s newsletter, The Billie, McCartney, 84, has an estimated fortune of $1.4 billion, making him the world’s third-richest musician. He trails Jay-Z, whose wealth stands at $2.8 billion, and Taylor Swift, with an estimated $2 billion.
One of McCartney’s most valuable business ventures is MPL Communications, which he established in 1969, shortly before The Beatles disbanded. The company allowed him to gain greater control over his solo recordings and publishing rights while also giving him the opportunity to invest in the catalogs of other songwriters.
Among the company’s holdings are Buddy Holly classics, “Blue Suede Shoes,” and “Baby, It’s Cold Outside.” McCartney also owns publishing rights connected to Grease, earning royalties whenever the musical is performed live.
McCartney’s 25% stake in Apple Corps, which generates more than $50 million annually from streaming, physical sales, and merchandise, is valued at over $150 million. The estates of late Beatles members John Lennon and George Harrison, as well as Ringo Starr, each receive an equal 25% share.
Additionally, McCartney’s U.S. publishing rights to the songs he co-wrote with Lennon generate at least $10 million annually and are estimated to be worth approximately $200 million.
McCartney’s billion-dollar fortune also includes an extensive real estate portfolio featuring properties in the UK and the Hamptons, as well as an impressive art collection containing works by Picasso and Magritte.
His current net worth reflects just how far the singer-songwriter has come from his modest beginnings. The Beatles’ first record deal reportedly earned the band less than a penny for each single sold, with the amount shared among the members, while publisher Northern Songs retained the copyright to the group’s music.
In the 1980s, Michael Jackson purchased the ATV Music catalog for $47.5 million, outbidding McCartney for the publishing rights to numerous Lennon-McCartney compositions. After the King of Pop merged the catalog with Sony in the 1990s, McCartney spent years working to secure his U.S. rights under American copyright law, with assistance from attorneys John and Lee Eastman.
“If I’m wheeling and dealing, life becomes very difficult for me. I’ve got to reserve a portion of my brain for writing songs,” McCartney told Forbes in 2017.
