Ed Sheeran pays himself over £40m after album success
Ed Sheeran has paid himself more than £40m after the huge success of his latest album, it has been revealed.
The music mega star received a dividend of almost £40.1m through his self-named business, Ed Sheeran Limited.
The accounts filed with Companies House also show the firm’s turnover totalled £25.7m while it made a pre-tax profit of £4.3m.
The figures are down significantly from the turnover of £49.9m and pre-tax profit of £36.5m it achieved in 2023 when his latest album, Subtract, was released.
Ed Sheeran’s company achieved a turnover of £23.6m and a pre-tax profit of £16.3m in 2022 by comparison.
In 2023, Ed Sheeran also paid himself £14.5m, according to accounts filed last year.
Ed Sheeran’s business empire
As well as Ed Sheeran Limited, the singer-songwriter is also a director of a number of other businesses including Patrick Walker LLP which was set up in February.
Ed Sheeran also set up Sheeran by Lowden in the same month which makes musical instruments.
He’s also a director of Maverick Commercial Properties and Gingerbread HQ which is described as ‘artistic creation’.
Sheeran’s other business also include Fat Punt (Drinks), That Dive Bar Portobello – a pub in London, Sidewind and Hayagotoatourboi Touring.
According to the latest Sunday Times Rich List, Sheeran has a net worth of £370m.
Earlier this year, Morning Wire reported that the Surrey music school, whose former students include Ed Sheeran and the 1975’s Matty Healy, fell into the red before being taken over
The Academy of Contemporary Music (ACM) in Guildford posted a pre-tax loss of £797,474 for its latest financial year – the 12 months to 31 August, 2024.
The loss comes after ACM reported a pre-tax profit of £3m in the prior year.
In a statement signed off by the board, ACM said its “large swing” from profit to loss “relates almost entirely to one off exceptional administrative expenses of £3.5m”.