Beatles’ Paul McCartney is UK’s first billionaire musician, on account of Beyoncé, scrapping of ‘non-dom’ tax

Song icon Paul McCartney has change into the UK’s first billionaire musician, according to the Sunday Times Successfully off Checklist published on Friday, despite the country recording its supreme fall within the billionaire depend within the handbook’s 36-year history.

The 81-year-mature’s fortune modified into as soon as boosted by “solid touring, a treasured help catalogue and even a diminutive support from Beyoncé”, who covered the Beatles’ song “Blackbird”, said the Successfully off Checklist, regarded as the definitive handbook of the UK’s prosperous.

McCartney, whose win price modified into as soon as estimated at £1.0 billion (US$1.26 billion), has bucked the model, with the amount of billionaires within the UK falling from a top of 177 in 2022 to 165 this year.

That is partly on account of plans by the authorities to scrap the “non-dom tax station” from subsequent year, the system whereby folks cease not pay UK tax on their in one more country earnings.

“Non-dom” has been a political field for lots of years, with High Minister Rishi Sunak’s Indian wife Akshata Murty claiming the station, that implies she modified into as soon as not required to pay tax on her shareholding in Infosys, the Bengaluru-based utterly utterly IT firm co-founded by her father.

However, she said she would pay UK tax on that profits after coming under political stress.

That pass has not hit the family’s fortune, with the couple seeing their shares grow in cost by £108.8 million to virtually £590 million over the past year, giving the couple a win price of £615 million, according to the checklist of 350 people and households.

King Charles III’s private wealth modified into as soon as additionally estimated to hang risen by £10 million to £610 million, on account of a seize within the net price of his properties.

These faring much less properly encompass chemical substances tycoon Jim Ratcliffe, who purchased a stake in Manchester United earlier this year, inventor James Dyson and Virgin entrepreneur Richard Branson, who all saw their multibillion pound fortunes decrease.

The checklist is topped by Indian-born investor Gopi Hinduja and his family for a third successive year.

The top of the Indian conglomerate Hinduja Crew has an estimated fortune of £37 billion.