Ed Sheeran enters Sunday Times Music Millionaires top 50 worth £45million

Ed Sheeran, who has broken into the Sunday Times Rich List Music Millionaires Top 50. Photo credit s

Ed Sheeran, who has broken into the Sunday Times Rich List Music Millionaires Top 50. Photo credit should read: Yui Mok/PA Wire - Credit: PA

Suffolk’s homegrown superstar Ed Sheeran has broken into another chart – this time as one of the richest musicians in Britain and Ireland.

Sheeran, who grew up in Framlingham, has entered this year’s Sunday Times Rich List Music Millionaires top 50 for the first time.

Sheeran, who comes in at number 49, is worth £45million – the same amount as Peter Gabriel, Mick Hucknall and Bernie Taupin.

The entry comes after the Thinking Out Loud hitmaker saw his riches increase by £25m in 2015. He is the only new entry this year.

The wealth increase puts the singer-songwriter, 24, second in the newspaper’s top 10 richest young musicians in Britain and Ireland, behind Adele, who is worth £85m and ahead of every member of boyband One Direction.

Last year the former Thomas Mills High School pupil was ranked seventh in the publication’s young musicians list.

Adele added £35m to her personal fortune this past year and is now worth £85m. The four members of One Direction – Niall Horan, Liam Payne, Harry Styles, and Louis Tomlinson – added £8m to their personal fortunes in a year and are individually each worth £33m.

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Chart topper Sheeran’s ranking in both lists adds to a phenomenal year which saw the end of a global tour including more than 150 shows to promote his second studio album X (pronounced multiply), the release of the film Jumpers for Goalposts – which focused on his three solo dates at Wembley Stadium in July 2015 – and him being awarded an honorary degree from University Campus Suffolk for his “outstanding contribution to music”.

The list, which is released ahead of the 28th annual Sunday Times Rich List this weekend, is headed by Sir Paul McCartney, who with his wife Nancy Shevell, shares a joint fortune of £760m, up £30m on last year.

Lord Lloyd-Webber, who is married to Suffolk native Madeleine Gurdon, from Grundisburgh, saw his wealth increase by £65m in the previous year. He is now worth £715m and is second in the list.

The Sunday Times Rich List, which is now in its 28th year, is based on identifiable wealth, including land, property, other assets such as art and racehorses, or significant shares in publicly quoted companies. It excludes bank accounts, to which the paper has no access.