BILLIONAIRE and owner of Warner Music Group Len Blavatnik has topped The Sunday Times rich list of the UK’s music millionaires for another year, with £10bn in wealth.
Blavatnik has been investing in a host of digital media firms such as France’s Deezer, Spotify, and Beats Music, in which he led a $60m (£35m) financing round and which Apple is understood to have acquired last week for $3.2bn. Outside of the music industry, Blavatnik ranked fourth on the UK rich list, to be published on Sunday.
Sir Paul McCartney saw his wealth grow by £30m, which took his total to £710m, placing him fourth in the top 10 list.
Liberal Democrat peer Lord Palumbo is the highest riser on the list, moving from 15th place to 10th place as the success of the Ministry of Sound record label helped add £70m to his wealth, boosting it to £270m.