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Page last updated at 08:09 GMT, Friday, 24 April 2009 09:09 UK
Credit crunch hits UK musicians

You might be feeling the pinch at the moment, but it seems some celebrities are struggling with their finances too. Many of Britain's top music stars have seen their wealth plunge by at least 10% in the last year, an annual earnings poll says.

Amy Winehouse
Amy Winehouse's wealth has halved in the last year

Troubled singer Amy Winehouse has seen a whopping 50% knocked off her fortune, which has fallen from £10m to £5m.

Although she's sold six million albums, she's not released any new music in the last year and her company Cherry Westfield isn't making much money.

The falling property market and plummeting share values have seen Sir Paul McCartney's fortune go down by £60m while Sir Elton John's coffers diminished by 26% in 2008.

Will Young, Kylie Minogue and Robbie Williams all saw their personal wealth fall, while Joss Stone's fortunes are down 33 per cent.

Money spinners

One singer who isn't complaining this year though is Duffy, who's made it into the top young music earners under 30 with a bank balance of £4m - probably in part thanks to her huge success Stateside.

Duffy
Duffy is one of this year's successful young earners

X-Factor judge and Girls Aloud star Cheryl Cole is another winner this year and also makes it into the chart, sharing a joint fortune of £13m with hubby Ashley Cole.

Not surprisingly the Beckhams have continued to rake in the cash from sponsorship deals, lucrative contracts and fashion ranges and are now among the 500 richest people in Britain.

The UK's youngest sportsmen have also largely managed to maintain their wealth, with Jenson Button topping the list of earners under 30.

Michael Owen and Wayne Rooney are in second and third position, while Lewis Hamilton comes in fifth with £25m.

Aside from sport, the world of entertainment has some winners too.

Lord Lloyd Webber's foray into Saturday night entertainment has helped him maintain his £750m fortune, while Simon Cowell's pocket is £8m heavier.

The figures are published in the Sunday Times Rich List which looks at the 1,000 top earners in Britain every year.



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