Sound CheckAndrew Lloyd Webber named richest musician, ever
Multi-award winner Andrew Lloyd Webber has been named No. 1 of “The 20 Richest Musicians of All Time” and is worth more than you might think.
According to Popdust, the 64-year-old British composer (of "Phantom of the Opera" and "Cats" fame) is worth $1.2 billion, beating out former Beatles member Paul McCartney, who came in second with a net worth of $800 million, and U2’s Bono, who placed third with a net worth of $600 million.
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However, it’s worth mentioning that Madonna should be in third place since the Material Girl is worth a reported $650 million.
Rounding out the top five musicians features a tie between artists Bing Crosby and Sean “Diddy” Combs in fourth and fifth positions, respectively, as they both boast $550 million each.
For most of us, $1.2 billion is more money than we will see in our lifetimes and after Webber is gone, his plan for what will happen to his earnings doesn’t include giving it to any of his five children.
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“They aren't bothered,” he told the UK’s Mirror. “They don't think that way. It is about having a work ethic - I don't believe in inherited money at all. I am not in favour of children suddenly finding a lot of money coming their way because then they have no incentive to work. So I will give them a start in life but they ain't going to end up owning the Really Useful Group."
The Really Useful Group is Webber’s entertainment company, which he founded in 1977. Its musical catalogue features his most notable works, including, “Cats,” “Evita,” “Jesus Christ Superstar,” “Joseph And The Amazing Technicolor Dreamcoat,” “The Phantom Of The Opera” and many more.
Instead, the composer and his wife Madeleine Gurdon would like the funds to be used for the arts.
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“…it should be about putting something back into the theatre,” he said. "I know that both of us would like to see it spread around. We could use the royalties to encourage everything from bursaries to young artists and composers. I feel I owe a debt and that is very largely due to the success not only in Britain but also the rest of the world. So I can't neglect places like America - or even China."
Check out one of Webber’s most notable songs written with Tim Rice, "You Must Love Me” from “Evita” as performed by Madonna, below.
