Spending to the tune of #40m over two years.
Pop superstar Sir Elton John last week revealed in his High Court battle with PricewaterhouseCoopers details of a lavish lifestyle that led him to spend almost #40m in just under two years.
The 53-year-old singer is suing his former accountants and Andrew Haydon, former managing director of his management company John Reid Enterprises (JREL), for negligence in managing his business affairs.
Spend-happy Sir Elton revealed under cross-examination that he parted with #9.6m on property alone between January 1996 and September 1997.
Cross-examined by Mark Hapgood QC, representing PwC, over whether it was possible his bill for flowers was #293,000 alone, Sir John explained: ‘Yes, I like flowers.’
Hapgood suggested to Sir Elton that he went ‘spending mad’, following a #42m deal with recording company Polygram in February 1996.
PricewaterhouseCoopers and Haydon both contest the allegations against them.
Questioned about his years of drink and drug abuse, Sir Elton said he could not recall an occasion in 1990 when he had arranged for accountants to be flown out to the US to discuss ‘a serious financial crisis’ – but had then refused to meet them when they arrived.
He explained that he suffered from mood swings before he overcame his cocaine addiction in July 1990.
The hearing, which began last month, continues and is expected to last about eight weeks.