Sunday times rich list

[STING2]

Originally posted by ipso
There is also the great unknown, how much U2's existing wealth generated during the year. Most of these surveys seem to assume that U2's existing wealth is in some kind of low interest deposit account.

You also have to understand that U2 were very rich 17-18 years ago, at a time when Ireland was relatively poor. Dublin (and I think U2 had a big part to play in this) has now become an economic powerhouse. Irish people buy more property in London every year than everyone else-including all the royalty from the Middle-East.

Even if U2 had invested in something as rudimentary as the Dublin property market-something right in front of their eyes-the returns would be staggering.

If you could pick any place on the planet to be rich 15 years ago, considering what was going to happen over the next 15 years, it would be Dublin or Shanghai.

Excellant point! People who owned houses in Sandymount were not poor back in the 1980s, but now they are all millionairs it seems.

[Irishteen]

Originally posted by STING2


Excellant point! People who owned houses in Sandymount were not poor back in the 1980s, but now they are all millionairs it seems.

That's true for most of the D4 area

The house I live in has gone up to over ten times the value, of what my parents paid for it 10 years ago.

[zepher25]

the band may not even know their true profits all stacked up, its very likely the leave all that stuff to their accountants, and also when making earning estimates remember they live in dublin, not monaco, they have to pay taxes on their incomes, i dont know the irish tax rates but between 30%-50% income tax i would think is likely

[Irishteen]

Originally posted by zepher25
the band may not even know their true profits all stacked up, its very likely the leave all that stuff to their accountants, and also when making earning estimates remember they live in dublin, not monaco, they have to pay taxes on their incomes, i dont know the irish tax rates but between 30%-50% income tax i would think is likely

As far as I know, musicians used to have "Tax free status" in Ireland, I think it has only been changed recently, if at all. I'm not sure if that only applies to Royalties or not though

[beLIEve]

Actually, I've read numerous articles over the years, some very critical, about the fact that Ireland DOES NOT require "artists" to pay any taxes. That may have changed very recently, or at least come up again in some type of election or referendum, but for most of the last 26 years, I don't think U2 have had to pay any taxes.

It's funny that when Bono gives his speech during the Slane Castle DVD, saying "we're not going to London, or New York City...we're going to base our crew right here in Dublin" during Out of Control, this issue was the first thing that came to mind. Bono's telling the crowd about U2's early decision to stay in Ireland for their entire career, yelling "this is our tribe!", and maybe they do love Ireland that much, who knows.

But, from a financial point of view, Ireland is also the best choice given the tax exemption. U2 are my favorite band of all time, but also one of the smartest corporations as well.

[Irishteen]

Here is a quote I found on the Tax-free status in Ireland

Millionaire rock star residents such as U2, The Corrs, Enya and others can avail of a section of the Taxes Consolidation Act which allows them tax-free earnings from musical "composition". But as Irish residents, they have to pay tax on millions earned from concert tours and CD sales.

Here's the full article http://www.belfasttelegraph.co.uk/li...p?story=648411

[zepher25]

i read somwhere that larry adopted the Jr. on his name beacuse the irish government send his father (larry Mullen Sr.) some extremely high tax requests.