Paul McCartney Becomes A Billionaire, Making Him World’s Third-Richest Musician With $1.4 Billion Net Worth

Paul McCartney is now worth $1.4 billion making him a billionaire and the third richest musician in the world according to Forbes.

That makes him the world’s third richest musician behind American singer, Taylor Swift whose fortune is put at $2 billion.

Forbes published the report on Monday.

Much of McCartney's wealth comes from MPL Communications, the music publishing company he set up in 1969, shortly before The Beatles split up.

Through MPL he gained the rights to thousands of songs, including works by Buddy Holly and music from Broadway shows, as well as well known Christmas songs such as “Blue Christmas” and “Baby, It's Cold Outside.”

Forbes values MPL at at least $250 million, and says it brings in tens of millions of dollars a year in royalties.

He also earns from The Beatles' catalogue through Apple Corps, which Forbes estimates brings in more than $50 million a year from streaming, vinyl and merchandise.

Paul McCartney shares that income equally with Ringo Starr and the estates of John Lennon and George Harrison.

His share of Beatles songwriting royalties in the United States alone is estimated at $10 million a year.

He also has income from world tours, property in the UK and the Hamptons, and an art collection that includes works by Picasso and Magritte.

Forbes notes that the band's early contract paid them less than one US cent per album sold, and that their publisher, Dick James, controlled the songs.

McCartney later set up his own publishing company to take back control.

In a 2017 Forbes essay, he called the original deal “basically a slave contract.”