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“Shape of You” hit maker, Ed Sheeran has been recognized as the world’s richest solo artist after his company, Ed Sheeran Ltd released its accounts over the weekend. The British singer claims the throne by knocking off fellow Briton, Adele with 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 according to the account released by his company. 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. Not only that, the multiple awards winning star paid £5,293,424 in UK tax, which is more than what Facebook paid in 2015 and 2016. It is however learnt that despite his huge earning, 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 Read More: Ed Sheeran Sued For Copying Mavin Gaye’s “Let’s Get It On” Reacting to his wealth, he said: “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. 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.” Source: the Guardian
By: Anne Clement Bassey