Sir Paul McCartney becomes UK’s first billionaire musician

The Beatles legend has seen his wealth double in the last year. Photo / AP

Sir Paul McCartney has become the UK’s first billionaire musician.

The Beatles legend boosted his wealth by £50 million ($104m) to once again take the top spot in this year’s Sunday Times Rich List, thanks to his 2023 Got Back tour, the increase in value of his back catalogue, the re-release of two Beatles compilation albums, and Beyonce covering Blackbird on her new album Cowboy Carter.

He previously took the top spot in 2022, when his fortune was estimated at £865m, and 2023 when he had £950m.

Sir Elton John’s Farewell Yellow Brick Road tour helped steer him to second on the musicians list with £470m, ahead of Rolling Stones rockers Sir Mick Jagger and Keith Richards with £415m.

Other notable names on this year’s list included theatre legend Andrew Lloyd Webber, with £515m, £100m more than Simon Cowell, and David and Victoria Beckham with £455m.

The publication’s 40 Under 40 list - which was topped by the Duke of Westminster, thanks to his £10.1 billion fortune - featured the likes of Lewis Hamilton, Ed Sheeran, Dua Lipa, Anthony Joshua, Harry Styles and Adele.

David Beckham and Victoria Beckham, pictured at the premiere of TV programme Beckham in London last October, feature on the Sunday Times Rich List as having£455 million. Photo / AP

The main list - which has a minimum wealth entry of £350m - was again topped by Gopi Hinduja and his family, with their £37.2b the largest fortune ever recorded by the newspaper.

The total list of 350 entrants had a combined wealth of £795.3b, a larger sum than Poland’s economy, but the outlet said the list suggested “Britain’s billionaire boom has come to an end”.

Robert Watts, who compiles the annual table, said: “Many of our homegrown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away.

“Thousands of British livelihoods rely on the super rich to some extent.

“We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy.”