British theatre’s richest figures – impresarios Cameron Mackintosh and Andrew Lloyd Webber – have seen standstill years for their respective fortunes, according to the Sunday Times’ Rich List.
The annual list of the UK’s 1,000 richest people names Mackintosh as theatre’s wealthiest individual, with £1.18 billion. This is equal to 2017’s rich list figure and means he continues to be the richest entertainment figure in the list.
The Sunday Times reports that despite Mackintosh’s continued success with long-running productions including The Phantom of the Opera and Les Miserables, profits at his company fell by £3.6 million in 2016/17 with Mackintosh reportedly blaming “rising costs” in his theatres.
In the past year he has reopened the West End’s Victoria Palace Theatre for the UK premiere of Hamilton, which won seven Olivier awards last month.
He is ranked 119th on the rich list, down from 111th last year.
Meanwhile, Lloyd Webber, ranked 185th (down from 171st last year) has also seen no change in his overall fortune and continues to be worth £740 million.
Lloyd Webber’s Really Useful Investments operation reported lower profits in 2015-16, despite the company that handles the rights to his shows – Really Useful Group Investments – showing profits of £5.9 million in 2015/16.
Other theatre figures on the rich list include lyricist Tim Rice, who comes in at 764th and is worth £152 million. Elton John’s wealth has risen by £10 million in the past year. He is 410th on the list with £300 million.
Businessman and investor Len Blavatnik, who is ranked third in the list with a fortune of £15.3 billion, has been linked to the sale of the Theatre Royal Haymarket in the West End. Blavatnik owns Warner Music Group and was given a knighthood for philanthropy in 2017.