Ed Sheeran forked out £158,917 a week in taxes last year. The ‘Bad Habits’ hitmaker, who is estimated to be worth around £250 million, might have seen his earnings increase by £8.4 million, reaching a whopping £18.3 million. However, most of that income was spent paying taxes, as reported by the Daily Mirror newspaper.
The global megastar had a turnover of £23.6 million in 2022, and his profit amounted to £16.3 million. Ed Sheeran Ltd will pay £3.1 million in Corporation Tax, while his touring firm will pay £5 million. The Grammy winner also owns a property portfolio and will pay £124,000 to the Exchequer.
The 32-year-old musician has previously discussed his considerable wealth and emphasized his commitment to giving back.
He told OK! Magazine, “It’s ‘earn a penny, spend a penny’ with me. As soon as it comes in, it goes out. I don’t place that much value on it. I place more value on my friends and family being okay. A lot of my money goes to charity or to children’s hospitals near where I live. I have enough to be comfortable, and the rest goes to help people.”
Last year, it was revealed that Ed gave away nearly £1 million to help children learn music.
The chart-topper donated almost £500,000 over the past five years through his Framlingham Foundation Trust, and the charitable initiative, which operates under the name Ed Sheeran Suffolk Music Foundation (ESSMF), had a similar sum earmarked for youngsters seeking funding for instruments, concerts, and rehearsal spaces.
A source told the Sunday Mirror newspaper at the time: “Ed has never forgotten his struggle to reach the top and the impact music made on his life. It is fantastic that he’s helping in this way.”
Ed’s funding also provided equipment for the music department at his and his wife Cherry’s former school, Thomas Mills School in Framlingham, Suffolk, with the establishment receiving £30,000 for that purpose.
Another school in the ‘Shape of You’ singer’s hometown, St. Michael’s, received £17,000 as part of an educational program involving after-school singing and dancing.
The ‘Castle on the Hill’ hitmaker, who has young daughters Lyra, three, and 17-month-old Jupiter with Cherry, said: “The reason I’m doing it in Suffolk is because it’s the area I grew up in, I still live here, and I learned how to play music here. I feel like I’ve had a lot of support from the area, and I want to give some support back.”
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