Los Angeles: Beatles legend Paul McCartney has become the world's third-richest musician, with an estimated net worth of $1.4 billion, according to Forbes.
McCartney's wealth ranks behind that of his friend Taylor Swift, whose net worth is estimated at $2 billion, CNN reported.
Forbes attributes McCartney's rise to his decades-long songwriting career, business decisions and impressive art collection. However, the musician's journey began modestly. He grew up in a working-class family in Liverpool, north-west England.
Despite The Beatles' phenomenal success, the Fab Four saw little of the money their work generated at the height of Beatlemania. Forbes reported that their initial record deal earned them less than a penny per album sold.
“No matter how successful we made the company, we didn't get a raise,” McCartney wrote in a 2017 Forbes essay.
Seeking a solution, McCartney established his own publishing company, MPL Communications, in 1969. This allowed him to manage his intellectual property and secure a greater share of royalties.
MPL has proved highly lucrative, with McCartney using the company to acquire the copyrights to thousands of tracks, including the back catalogue of rock 'n' roll pioneer Buddy Holly, whom he has cited as a major influence on The Beatles.