Shane MacGowan leaves behind '£4million fortune': Details

Fans were optimistic that Shane MacGowan's beloved holiday song, "Fairytale Of New York," might secure the Christmas number one spot on Friday.

Despite the hit losing to Wham!'s "Last Christmas" for the coveted chart-topping position, the song contributed significantly to Shane's wealth during his lifetime.

The lead singer of The Pogues, who would have celebrated his 65th birthday on Christmas Day, passed away in Dublin last month following an extended period of poor health.

Recent reports indicate that the late star has left behind an estimated fortune of £4.3 million.

The Mirror reported that the singer raked in between £216,000 and £260,000 a year in royalties from the 1988 festive classic which also featured the late Kirsty MacColl.

The musician died 'peacefully' with his wife Victoria Mary Clarke and family by his side.

He had been battling viral encephalitis – a life-threatening condition that leads to brain swelling - and had been in and out of Dublin's St Vincent's Hospital for months.

The star's widow opened up last week about her 'never predictable' jet-set life with The Pogues star.