Warner Music Group chief Edgar Bronfman’s decision to move to London for the sake of his children has resulted in him soaring straight to the top of the UK’s music business rich list.
Bronfman, who hadn’t previously qualified because he was New York-based, has £1.64 billion – topping Zomba Group and Jive Records founder Clive Calder by £34 million.
Third in the list, one of the subsections of the annual Rich List published by The Sunday Times, was Andrew Lloyd Webber with £700 million, 7 percent less than he was valued at last year.
Although the UK has struggled with recession and the near collapse of the banking system, the paper says the fortunes of Britain’s richest people have soared 30 percent in the last year – the highest rise since the list was first published 21 years ago.
The highest flyer is theatre producer Cameron Mackintosh in fourth place with £635 million, a whopping 81 percent more than the £350 million he had in 2009.
Mackintosh owns seven London theatres, world rights to “Les Miserables” and “Miss Saigon” and a stake in the U.S. licensing business Music Theatre International.
The others to make the music biz Top 10 were Paul McCartney (£475 million), Simon Fuller (£350 million), Mick Jagger (£190 million), Elton John (£185 million), Sting (£180 million) and Keith Richards (£175 million).