Sir Paul McCartney and Simon Cowell will be smiling through the economic slump - they've made millions in the last 12 months as the U.K. music industry shows the green shoots of recovery. Last year, the global financial crisis hit record labels hard, with rockers including McCartney and Sir Elton John losing huge chunks of their fortune.
But the industry appears to be moving out of the slump - according to Britain's Sunday Times annual rich list, some top earners have seen their income soar in the last 12 months. The Beatles legend McCartney's wealth rose to $712 million from $660 million , while the "Rocket Man" 's fortune is at $277 million, an increase of $15 million. Music mogul Cowell is now worth $247 million compared to $180 million last year.
But it was a miserable 12 months for impresario Lord Andrew Lloyd-Webber - he lost $75 million from his $1.1 billion fortune. The list is topped by Warner Music Group chief executive Edgar Bronfman, who became eligible by moving from New York to London last year - pushing record label boss Clive Calder down to second place.
In the rich list of British music stars aged under 30, Girls Aloud singer Cheryl Cole enjoyed a bumper 12 months - her blossoming solo career and soaring exposure from her role as a judge on TV talent show "The X Factor" caused her fortune to increase by a massive 150 per cent, to $15 million.
Charlotte Church tops the young rich list, with $16.5 million.
The top ten musical millionaires in 2010, according to the Sunday Times, is: