British singer Ed Sheeran, has been crowned the richest solo artist in the world after his company Ed Sheeran Ltd released its accounts over the weekend.
From the account his company released, Ed Sheeran who knocked off Adele had a turnover of £36,293,611 with a gross profit of £27,376,900, which is £75,005 a day and £3,125 an hour. He also paid £5,293,424 in UK tax, which is more than what Facebook paid in 2015 and 2016.
However even with the huge earning, it was gathered that the singer only paid himself £8,164 and has over £16 million sitting in the bank, according to accounts posted at Companies House. Ed Sheeran who was named the highest earning solo star in July by Forbes, ahead of the likes of Taylor Swift and Katy Perry, with earnings of £83 million, also jumped 62 places from last year, placing ninth on the full list of top-earning celebrities, which includes the likes of football players Lionel Messi and Ronaldo.
Ed who admitted that money wasn’t his motivation, as long as he was “comfortable” and gave most of it away, surpassed Adele’s earnings after The Sun revealed on Friday that she’d made £8.6 million profit in the last year and had over £41 million cash in the bank.
“It’s like, earn a penny, spend a penny with me. As soon as it comes in, it goes out. I don’t have that much value on it. I have more value on my friends and family being OK. A lot of my money goes to charity or to children’s hospitals near where I live. I have enough to be comfortable and the rest goes to help people,’ he said.
“I do think money is the root of all evil. I’ve never lost more friends in my life than I have done after finding money coming to my life.”