Ed Sheeran has doubled his wealth by £80 million in just a year.

The 'Castle on the Hill' hitmaker has amassed a staggering fortune of £160 million, landing him the top spot on the Sunday Times' list of wealthiest young musicians and 17th place on their overall Rich List, overtaking Adele, who has dropped to 22nd on the main list with £150 million to her name, due to the fact she hasn't toured since 2017.

It's a significant drop on previous years which have seen the 'Hello' hitmaker top the list of wealthy young musicians.

A new entry to the Rich List is grime superstar Stormzy, 25, making his debut with £16 million.

The top 10 is taken over by veteran musicians, with impresario of musical theatre Andrew Lloyd-Webber coming in first place with a whopping £820 million.

Sir Paul McCartney's earnings have gone down by £70 million from last year, with the Beatles legend now in second place with £750 million, followed by U2 - Bono, The Edge, Adam Clayton and Larry Mullen Jr. - who are valued at £583 million as a four-piece.

Sir Elton John - who is the subject of the forthcoming biopic 'Rocketman' starring Taron Egerton as the 'Candle in the Wind' hitmaker - has seen a rise of £20 million, with him placing fourth with £320 million and Rolling Stones frontman Sir Mick Jagger has made the top five with a wealth of £275 million, with his bandmate Keith Richards earning £15 million less than him.

The young musicians list sees former One Direction stars Harry Styles and Niall Horan occupying second and third place respectively, followed by girl group Little Mix at number four.

Louis Tomlinson, Liam Payne and Zayn Malik of the boyband also made it to fifth, sixth and seventh.

The 10 richest musicians in the UK in 2019 according to the Sunday Times is as follows:

1. Andrew Lloyd-Webber - £820 million

2. Sir Paul McCartney and Nancy Shevell - £750 million

3. U2 - £583 million

4. Sir Elton John - £320 million

5. Sir Mick Jagger - £275 million

6. Keith Richards - £260 million

7. Olivia and Dhani Harrison - £250 million

8. Sir Ringo Starr - £240 million

9. Michael Flatley - £204 million

10. Sting - £200 million