Paul McCartney becomes a billionaire and world’s third richest musician

According to a new analysis by Forbes, the former Beatle now has a net worth of $1.4bn, placing him behind Jay-Z and Taylor Swift

Paul McCartney has joined the ranks of the world’s billionaires. Forbes has valued the former Beatle’s net worth at $1.4bn (£1.04bn), making him the world’s third richest musician behind Jay-Z at $2.8bn (£2.01bn) and Taylor Swift at $2bn (£1.49bn).

The magazine attributed McCartney’s wealth to his musical catalog, legal maneuvers, tours and art collection. The 84-year-old derives the bulk of his fortune from MPL Communications, the publishing company he founded in 1969 that manages his own catalog and those of other artists.