Music

Wednesday 23 July 2014

Horan worth cool €17m – but he's still playing catch-up with U2

Sam Griffin

Published 15/05/2014|02:30

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ONE Direction singer Niall Horan's bank balance now reads a cool €17m.

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The pop star is chasing the elite of Irish entertainment – although he still has a way to go to catch Bono and his U2 bandmates.

The latest annual survey of the biggest earners in the music business in Ireland and Britain makes positive reading for seven Irish representatives who have accumulated a €1bn fortune between them.

Horan is now in joint fourth in the under-30 category of the Richest Young Musician list.

The Music Millionaires List of more seasoned industry players suggests that U2 have suffered a dramatic €110m dip in combined wealth – but in reality the drop is a result of the retirement of manager Paul McGuinnness who now appears on the list in his own right.

He ranks in 32nd position and is worth €125m.

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There's just no beating U2's bank account

His former band has kept its place as this country's highest earning ensemble, remaining in sixth place overall, with a combined 2014 wealth of €516m. Indeed, the wealth of the four band members has increased by €4m each.

Next comes the Lord of the Dance Michael Flatley in 15th position. He increased his value by €2m and has a total wealth of €233m.

Denis Desmond and Caroline Downey, from promoters MCD, lost €10m last year but still have a vast fortune of more than €184m which sees them sit in 20th place.

Enya, the highest earning female on the list, has fallen back two places to 37th but still picked up €1m last year and is now worth some €106m to complete the Irish contingent among music's highest earners.

Among the richest young musicians, Mullingar native Horan (20) and his One Direction band mates increased their wealth by €11m in the past 12 months and are valued at €17m each.

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Enya, the highest-earning female, has fallen back two places

That makes them the joint fourth richest musicians here under 30 years old and the richest boy band in history from Ireland and the UK.

On the same list, in joint 32nd position, is Nadine Coyle who drops from eighth position on last year's performance having failed to add to her €7m fortune.

Sitting on top of the pile in the 'Sunday Times' survey is the relatively unknown Len Blavatnik, owner of Warner Music, who is worth over €12bn.

His stock has tumbled by over €1bn but the Ukrainian-born businessman keeps his number one spot.

In fact there is no change among the top eight earners. Paul McCartney and wife Nancy Shevell shared an €885m fortune after picking up €36m last year to stay fourth.

Rocket

Simon Cowell, in eighth place, has seen his wealth rocket by some €60m and is now worth €361m. Elton John remains Ireland and the UK's 10th wealthiest musician with a €313m fortune.

Other well-known entertainers in the top 50 include Mick Jagger (€259m), David and Victoria Beckham (€253m) and Robbie Williams (€145m).

Singer Adele (26) heads the list of young musicians aged 30 and under, with a €54m fortune, up €18m on last year. She's one place ahead of Scottish DJ and new entry Calvin Harris who is worth €36m. Cheryl Cole is third with €19m.

The list is based on identifiable wealth, including land, property, other assets such as art and racehorses, or significant shares in publicly quoted companies but excludes bank accounts.

Irish Independent

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