Ed Sheeran has reportedly increased his wealth by £40 million, landing him the top spot on the young musicians Sunday Times Rich List for the second year running.

The 29-year-old, from Suffolk, is the richest musician in the UK aged 30 orunder, with a wealth of more than £200 million, according to the list.

In December 2019, the singer-songwriter announced he was taking a break from music, after a busy two years in which he married his long-term partner, Cherry Seaborn, and completed his record-breaking Divide Tour.

He had played more than 250 shows to more than seven million fans since March 2017, with Divide becoming the most attended and highest grossing tour of all time, breaking U2's record.

Ed Sheeran. Credit: PA

Dua Lipa and George Ezra make their debuts in the list, sharing 11th place with £16 million each. Cambridgeshire's Sam Smith comes in at number 8 on the list.

It follows a difficult few months for the music industry, after the coronaviruspandemic saw tours by acts including The Who and Dua Lipa postponed and festivals such as Glastonbury and Latitude cancelled.

The young musicians Sunday Times Rich List:

  • 1) Ed Sheeran - £200 million

  • 2) Harry Styles - £63 million

  • 3) Niall Horan - £50 million

  • 4) Little Mix - £48 million

  • 5) Louis Tomlinson - £45 million

  • 6) Liam Payne - £44 million

  • 7) Zayn Malik - £36 million

  • 8) Sam Smith - £33 million

  • 9) Rita Ora - £20 million (joint)

  • 9) Stormzy - £20 million (joint)

  • 11) George Ezra -£16 million (joint)

  • 11) Dua Lipa - £16 million (joint)