McCartney slips down UK rich list due to divorce

Paul McCartney poses for the media before a signing session in London in this November 22, 2006 file photo.[Reuters]

Former Beatle Paul McCartney has slipped down the list of Britain's music millionaires after the Sunday Times, which compiles the rankings, made a 100 million pound ($200 million) allowance for a possible divorce deal.

McCartney is in the midst of a divorce battle with Heather Mills McCartney, and, despite heated speculation in the media, the couple has denied reaching a settlement.

Initial reports last year said the divorce could cost McCartney up to one quarter of his fortune, estimated previously at 825 million pounds, but lawyers say the actual figure is likely to be a fraction of that.

"After making a 100 million pound allowance for the possible cost of his divorce from Heather Mills, Sir Paul McCartney's wealth falls this year to 725 million pounds," the Sunday Times newspaper said in a statement on Friday.

Its annual rich list, which it calls the definitive guide to wealth in Britain and Ireland, is published on April 29.

Top of the list of pop music figures is the reclusive Clive Calder, the former record label boss behind acts such as Britney Spears and 'N Sync, who is the country's only music billionaire with a fortune estimated at 1.3 billion pounds.

Moving up to second place from third in 2006 was musical impresario Andrew Lloyd Webber, with a fortune estimated at 750 million pounds. McCartney slips to third from second.

Simon Fuller, creator of hit reality TV shows "Pop Idol" and "American Idol," is fourth with 450 million pounds, equal with theatre producer Cameron Mackintosh.

Madonna and husband Guy Ritchie are in sixth position with 275 million pounds, followed by Elton John (225 million) and Mick Jagger (215 million).

In terms of bands' collective wealth, the Beatles rules with more than one billion pounds, while ageing rockers the Rolling Stones, still going strong on tour, have a combined worth of 570 million.

Fellow tourers U2 are not far behind with 487 million pounds between them, the Sunday Times said.

The list is based on identifiable wealth in the form of land, property, other assets such as art and shares in publicly quoted companies, but does not include bank accounts.