• Text size      
  • Send this article to a friend
  • Print this article

Singer sees fortune grow to £5m

SCOTS singer Amy ­Macdonald has seen her fortune soar to £5 million after a string of chart-topping hits.

The songwriter has just posted a set of results for the two companies that handle her income.

They reveal she has amassed a multi-million-pound fortune just a few years after playing gigs in Glasgow coffee shops.

Latest accounts show her main company, Amy Macdonald Ltd, has £2.9m in the bank. Her second company, Amy Macdonald Touring Ltd, has £2.04m in another account.

The combined funds of the firms for the period up to April 2013 are more than £1m up on the previous year's figures.

The accounts, filed at Companies House, show Macdonald has an ­investment portfolio worth £950,000. She also takes out a yearly loan from her main company of about £200,000.

The 26-year-old, from Bishopbriggs near Glasgow, released her third album Life In A Beautiful Light, last year.

Her records have sold millions of copies and she has become a massive star in European countries such as Germany and Denmark as well as the UK.

A financial source said: "These figures show that Amy has had yet another successful year and increased the value of her companies by more than £1m.

"She will also have personal earnings which are not channelled through the companies, making her even richer.

"She writes all of her own songs, which entitles her to a large slice of the royalties from her records."

Macdonald set up the firms more than six years ago, soon after signing her first record deal.

She revealed she had bought a £170,000 Ferrari 458 to add to her car collection. She also owns a Range Rover and a Bentley.

In 2011, she purchased a £800,000 luxury home in Milngavie, East Dunbartonshire. The singer was unavailable for comment.

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

202332