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Elton and McCartney hit by economic crisis
Friday, April 24 2009

British singers Paul McCartney, Elton John and Mick Jagger have lost large chunks of their personal fortunes during the economic crisis over the last year, according to a rich list published on April 24, 2009.

Along with many of the world's richest people, their wealth has been eroded by sharp falls in the value of property, shares and other investments, the annual survey for the Sunday Times newspaper said.

Elton John's personal wealth fell by more than a quarter to 175 million pounds from 235 million pounds ($342.3 million) last year. He saw his wealth tumble due to a combination of the effects of the downturn, the end of a lucrative run of Las Vegas concerts and donations to charity worth 42 million pounds.

Former Beatle McCartney saw 60 million pounds wiped off his fortune, a 12 percent decline on last year. Jagger, lead singer of the Rolling Stones, fared even worse. His wealth slipped by 16 percent to 190 million pounds.

The list of the richest 1,000 in Britain is out on April 26, 2009.

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