Ed Sheeran tipped to become first British billionaire musician

Ed Sheeran could be set to become the first British billionaire musician after his wealth rocketed again this year.

The 'Thinking Out Loud' singer – who has just welcomed a second baby girl – is currently 10th on the Sunday Times Music Rich List.

His wealth apparently increased by £40 million this year, giving him an estimated total of £260 million.

Read more: Ed Sheeran says baby daughter cries when he sings to her

Beatles legend Sir Paul McCartney, 79, is number one with a fortune of £865 million, which he shares with his American wife Nancy Shevell.

And there are eight other big names after him, including U2 (£625 million) and Lord Lloyd-Webber, whose wealth dropped by £30 million to £495 million amid the impact of the coronavirus pandemic on the theatre world.

However, it’s suggested that if Sheeran carries on the way he’s going, he could set a record.

Robert Watts, who compiled the list, said it had been a “golden year” for the star and that it suggested “he may in time pip Paul McCartney to become the first British billionaire musician”.

Others in the top 10 were Sir Elton John (£395 million), Sting (£320 million), Sir Mick Jagger (£318 million), Keith Richards (£303 million), Olivia and Dhani Harrison (£295 million) – the wife and son of late Beatle George Harrison - and Sir Ringo Starr (£285 million).

The publication also revealed its Young Music Rich List, which is for those who are 30 or under.

That was topped by former One Direction heartthrob Harry Styles, 28,who has an estimated wealth of £100 million.

His old bandmates Niall Horan (£52 million), Louis Tomlinson (£48 million), Liam Payne (£44 million) and Zayn Malik (£36 million) also made the top 10.

They were joined by Dua Lipa and Little Mix, who both have an estimated fortune of £60 million, Sam Smith with £34 million, Stormzy with £26 million and Lewis Capaldi, who has an estimated wealth of £19 million.

Watts said selling their music rights had proved extremely lucrative for many of the older acts on the list.

He also said the return to touring post pandemic should also see many of the artists on the list earn well this year and next year.

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“It seems old musicians never retire, they just get richer,” he added.

Watch: Ed Sheeran and Cherry Seaborn welcome second child