The rich and famous are tightening their designer belts
Saturday January 23 2010
The sizzling style magazine launched by star couple Jamie and Louise Redknapp is in fierce financial trouble as a growing number of celebs struggle with the recession. The glam glossy Icon was a favourite of Premiership footballers and their WAGs, but it seems now even the rich are tightening their diamond-encrusted belts.
But the Redknapps are in good company when it comes to celebs who have been stung by the downturn. Elton John saw his wealth drop 26pc, from £235m in 2008 to £175m last year. Paul McCartney is worth £440m, down from £500m; while pop mogul Simon Fuller has £300m, after losing £150m.
In fact, things are so bad that Paris Hilton, who used to demand $50,000 for appearing at a fashion show, now settles for $5,000, airfare, and hotel accommodation.
But bizarrely, the recession hasn't affected Jessica Simpson, who claims her clothing brand is now worth $400m. So, it seems we should not underestimate the star who recently reminded us: "I think there's a difference between ditzy and dumb. Dumb is just not knowing. Ditzy is having the courage to ask!" And with a clothing line worth $400m, who can argue with that?
Irish Independent
