Ed Sheeran Awards Himself N9.8bn Pay Rise as His Music Empire Continues to Grow
- Singer Ed Sheeran's music empire currently boasts an astounding N87bn turnover since 2019
- In recognition of his achievements, the superstar has rewarded himself with a substantial N9.8bn pay increase
- Sheeran's earnings in 2022 reached N18bn, marking a substantial N8.7bn increase compared to the previous year
Celebrated singer Ed Sheeran has seen his music empire flourish with a staggering N87bn turnover since 2019, a figure that excludes earnings from his recent world tour.
Source: UGC
According to The Mirror, the 32-year-old artiste has granted himself a substantial N9.8bn pay raise, thanks to the continuous growth of his music career.
How much profit did Ed Sheeran make?
In 2022 alone, Sheeran's earnings reached N18bn, reflecting a notable increase of N8.7bn compared to the previous year.
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These latest figures paint a picture of a musician at the pinnacle of his career, cementing his status as one of the world's biggest stars.
However, the N87bn turnover does not account for nearly half of the 90 total dates from his sold-out world tour spanning 2022 and 2023. Nor does it encompass the sales generated by his sixth album, "Subtract," or his latest release, "Autumn Variations."
A source close to the artiste said:
"Ed is going from strength to strength. He's one of the biggest stars on the planet, and these numbers back that up."
Annual accounts submitted to Companies House unveiled that Ed Sheeran Ltd currently holds N50bn in its funds, with turnovers of N22.9bn in 2022, N32.8bn in 2021, and N31.2bn in 2019.
The artiste's profits for these years amount to an astonishing N64bn, with a significant portion stemming from his 2021 album, "Equals."
Notably, Sheeran will be contributing N3bn in corporation tax, and he has demonstrated his commitment to charitable causes by donating substantial sums, including N968m, to support music education for children.
In his own words, Sheeran shared:
"It's like, earn a penny, spend a penny with me. I don't have that much value on it. I have more value on my friends and family being OK."
Ed Sheeran releases new album after copyright trial
Previously, the singer released a new album ‘Subtract’ just hours after winning Marvin Gaye's ‘Thinking Out Loud’ copyright trial.
The British singer was taken to court after being accused of copying Marvin Gaye's song Let's Get It On.
According to the BBC, Sheeran denied copying Marvin Gaye's song.
Source: TUKO.co.ke
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Maymunah Ajetunmobi (Entertainment Deputy HOD) Maymunah Ajetunmobi is a journalist and the deputy HOD of the entertainment desk with over two years of work experience at Legit.ng. She graduated from the University of Ilorin in 2016 with a Bachelor's Degree in Zoology and has moved on to pursue courses and a degree in communication. Maymunah joined Legit.ng in 2020, and emerged Editor with Top Entertainment Article in 2021. She has written exclusive articles, unique pieces, and interviews. Email: ajetunmobi.maymunah@corp.legit.ng
