The Irish Times reported this week that many of Ireland’s best-known artists are accumulating gobs of cash due to a clause in Irish taxing laws. The clause, which exempts taxes from arists’ royalty fees, allows artists to keep all of the individual royalty fees from each album sold, usually about £3 (approx. $4.30) per album.
One category in the Sunday Times’ annual Richest 100 survey is richest “aged 30 or under” in Ireland, where The Cranberries place in the Top 10. The newspaper reports that each member of the band has a personal wealth of £38 ($55) million each, which would make a total of more than £152 ($218) million. This figure far exceeds Q Magazine’s £60 million estimate that we reported last week (click here). Irish people who made their wealth entirely outside the British Isles were excluded from the annual survey.
Source: The Irish Times