Sir Elton John has taken a staggering £60m financial hit after coronavirus forced him to cancel his farewell tour. The Mail on Sunday revealed that the singer and partner David Furnish have been left ‘bereft’ as they had anticipated the cash would see him into his retirement.
It is understood that Sir Elton, 73, is unlikely to receive any insurance payout for the losses. The cancellation of the tour has even resulted in his long-serving band being laid off until it becomes clear if concerts scheduled for later this year will take place.
A number of the domestic staff at the star’s £20m home in the US city of Atlanta have also been told they are not needed. Employees were initially told they would receive 80 per cent of their salaries from the scheme set up by Chancellor Rishi Sunak, but the singer then decided he would meet the cost from his own pocket. The tour was forecast to make over £60m this year.
That revenue has literally disappeared overnight,’ said a source close to the veteran entertainer.
SOURCE: Daily Mail