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The full annual Rich List, which will be published on Sunday May 13, calculates the wealth of the 1,000 richest people in Britain based on "identifiable wealth", including land, property, assets such as art and racehorses, and significant shares in public companies.

Ed's success has placed him second on the musicians under 30 rich list, coming behind Adele, who has stayed at the top with £140 million - an increase of £15 million on the year before.

The 27-year-old singer who released his successful third album, ÷ (Divide), was gathered to have earned a net worth of £28million.

Millions of pounds in revenue is thought to have been raised by the tour. But Sir Paul is also the richest musician in the history of the list. The former Beatle and his wife heiress Nancy Shevell enjoy a combined wealth of £820 million.

Theater legend Sir Andrew Lloyd Webber is #2 on the list, followed by U2, who have a collective worth of about $720 million.

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No female singers appeared in the overall top ten, but female acts like Little Mix saw greater gains in the youth list.

Robert Watts, the compiler of The Sunday Times Rich List, said: "Our Northwest Rich List is again led by the Duke of Westminster, but wealth creation in the United Kingdom is increasingly a story of self-made - rather than inherited - wealth".

Singer-songwriter sensation Ed Sheeran has added £28m on to his huge fortune in the a year ago.

"Streaming services, the internet and income from endorsements are helping today's young musicians build an worldwide following - and with it their fortunes - far quicker than the older rockers".