London, Apr 24 : Even Elton John could not fight the ill effects of recession. He has lost a quarter of his hard earned wealth in the last year.

The ''Candle In the Wind' hitmaker has seen his fortune drop from 75million pounds to 55 million pounds, reports The Mirror.

But Elton is not the only one, who has been a victim of the credit crunch, as celebrities like Sir Paul McCartney have also witnessed the negative effects of the ongoing economic fall.

He has lost his 60 million pounds within the year.

Sir Tom Jones is another victim, who lost 40million pounds due to credit crunch, according to the Sunday Times Rich List. (ANI)