Susan Boyle cashing in as her companies have more than £2.2million in the bank
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Scottish singer Susan Boyle’ s companies have more than £2.2million in the bank, new figures have revealed.
The star’s accounts show that the four firms which handle income from her music and merchandising are cashing in.
Her main company Duil Limited, which channels income from sales of her records, generated £1.46million in the last year.
Two other firms which she controls, Speur Limited and Speur Business, which handle TV appearances and live performances, had combined profits of £661,719.
A fourth firm called Speur Films, which was set up amid plans for a Hollywood movie of her life, made £145,388 according to the accounts filed at Companies House.
SuBo was made a director and owner of all the shares in her firms in 2011.
Her companies were set up in 2009, and were previously run by her niece Kirsty Foy and showbiz accountant Ossie Kilkenny.
The 55-year-old from Blackburn, West Lothian, came to fame on Britain’s Got Talent in 2009 with her performance of I Dreamed A Dream.
She has since released seven albums and sold over 20 million records.
(Photo: Sunday Mirror)
In 2009, she paid £65,000 to buy the three-bedroom former council house in Blackburn, where she grew up.
The following year, she bought a five-bedroom £300,000 new-build detached villa at the other end of the small town, which she calls The Posh House.
However, she couldn’t settle there, and moved back home. She recently said her only extravagances were a £300 fur coat and the occasional bottle of Chanel No 5 from duty free shops.
Financial experts said the cash held in the accounts would not represent the full value of the star’s wealth.
A source said: “She will be receiving money through other means than her companies and the amount of money in these accounts could only be a fraction of her total net worth.
“Susan has been made a director of the companies and is the ultimate controlling party, giving her the final say on all aspects of her financial affairs.”
Susan’s company names both use Scottish Gaelic words. Duil means ‘hope’ while Speur is Gaelic for ‘sky’.
Last month Susan said she hopes to tour in Australia or America this year after shedding two stones on a diet and exercise regime.