Glastonbury founder Sir Michael Eavis could reportedly avoid £80million in inheritance tax after transferring most of his financial interest in the iconic music festival over to his daughter.
The event saw its pre-tax profits double to almost £6million last year with revenues reaching a stunning £68million after flogging 210,000 tickets for £300 each.
Experts claim Glastonbury - which is set to be headlined this year by The 1975, Neil Young and Olivia Rodrigo - could be worth as much as £400million, while others say in reality it could be far more if it was sold to the likes of Sony or Universal Music.
The true value of Glastonbury is hard to quantify because of the money it donates each year to charities. Last year more than £5.9million went to organisations including Oxfam, Greenpeace and WaterAid.
But by transferring his entire shareholding in Glastonbury Festival Events Ltd to Emily, 45, 89-year-old Sir Michael's family could save as much as £80million in inheritance tax, The Times reports.
