John And McCartney's Lost Millions Revealed in New Rich List

The credit crunch has bit down hard on some of the U.K.'s wealthiest musicians - Sir Elton John and Sir Paul McCartney have both lost millions in the last 12 months.

According to Britain's Sunday Times' annual rich list, which categorises the U.K.'s wealthiest people, many of the country's most prominent musical talents have lost huge chunks of their fortunes in the ongoing globaleconomic crisis.

And Rocketman John and Beatle legend McCartney are among the worst hit.

The newspaper reveals John has lost a huge 26 per cent of his massive wealth - dropping from $329 million (£235 million) in 2008 to $245 million (£175 million) in 2009.

Meanwhile, McCartney has allegedly had $84 million (£60 million) chopped off his $700 million (£500 million) fortune.

But things aren't so gloomy for the iconic rocker, he sits in third position of the richest men in the U.K. music industry behind record label mogul Clive Calder and musical impressario Lord Andrew Lloyd-Webber.

Although Sir Elton John may be upset to find he is in the number eight position - which he has to share with Rolling Stones' hellraiser Keith Richards.

The top ten musical millionaires in 2009 according to the Sunday Times is:
1. Clive Calder ($1.8 billion£1.3 billion)
2. Lord Lloyd-Webber ($1.05 billion£750 million)
3. Sir Paul McCartney ($700 million£440 million)
4. Sir Cameron Mackintosh ($490 million£350 million)
5. Simon Fuller ($420 million£300 million)
6. Sir Mick Jagger ($266 million£190 million)
7. Sting ($252 million180 million)
83 = Sir Elton John ($245 million£175 million)
83 = Keith Richards ($245 million£175 million)
10 = Olivia and Dhani Harrison (George Harrison's widow and son) ($196million£140 million)
10 = Sir Tim Rice ($196 million£140 million)