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Elton John, Madonna Among Entertainment Industry's "Top 25 Art Collectors"

ABC/Randy HolmesGlobal pop superstars makes tons of cash, and since there are only so many mansions and cars you can buy, it's no wonder that some of them sink their fortunes into art.  The Hollywood Reporter has created a list of the entertainment industry's "Top 25 Art Collectors," and Madonna and Elton John are both on the list.

According to The Hollywood Reporter, Madonna got her art start in 1987, when she paid a million bucks for a painting by renowned artist Fernand Leger.  Since then, she's amassed over 300 works, from big names such as Salvador Dali, Maxfield Parrish, Frida Kahlo, Damien Hirst and Man Ray.  In 2000, she paid $4.7 million for a Picasso work, and her collection was appraised at over $100 million in 2008.  This year, she auctioned off one of her Legers for more than seven million bucks and donated the profits to support girls' education in Afghanistan and Pakistan.

As for Elton, according to the publication, he and his partner David Furnish have acquired what's considered to be one of the world's most important collections of photography, from legends like Irving Penn, Herb Ritts, Richard Avedon, Man Ray and David LaChappelle -- who helped design Elton's first Vegas show, The Red Piano.  One Man Ray image Elton bought in 1993 for $193,000 is now worth nearly two million.

Other musicians who are on The Hollywood Reporter's list include rappers Jay-Z and Sean "Diddy" Combs, as well as Pharrell Williams, the songwriter, producer and rapper who's heard on Robin Thicke's hit "Blurred Lines."

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