Pop star Dua Lipa, 29, is the youngest person on The Sunday Times' annual list of the richest people under 40 in the UK, the publication announced.

With an estimated fortune of £115 million, the Anglo-Albanian singer, whose album Radical Optimism topped the UK charts, ranks 34th in the “40 Under 40” category.

The Sunday Times' list of the richest people, now in its 37th year, also includes people who are not British citizens but live and work in the UK.

Other names in the “40 under 40” ranking include Harry Potter actor Daniel Radcliffe and English footballer Harry Kane, both worth £100 million, just behind retired tennis player Andy Murray.

Singer Adele is estimated to be worth £170 million, while her colleagues Harry Styles and Ed Sheeran are worth £225 million and £370 million respectively.

The overall ranking of the richest people is dominated by entrepreneurs, financiers, and real estate owners.

Gopi Hinduja and his family, who are behind the Indian conglomerate Hinduja Group, retained their title as the richest in the UK, although their wealth fell from £37.2 billion to £35.3 billion.

The Sunday Times noted that the number of billionaires in the UK had fallen from 165 to 156, the biggest drop in the history of the rankings.

The Labour government is tightening loopholes that allow people with “non-dom” status, who live in the UK but whose permanent residence is abroad, to avoid UK taxation on income earned outside the country.

“The number of billionaires is falling and the total wealth of the people included in our survey is declining,” said Robert Watts, compiler of the ranking of the richest people.

“We are also finding that fewer of the world's richest people are coming to live in the UK.”

This year's list also includes Jim Ratcliffe, founder of the petrochemical group Inos and minority owner of Manchester United football club.

He remains in the top 10 with £17 billion, although his fortune has fallen by around £6 billion over the past year due to difficulties at his company.

Paul McCartney is the only billionaire musician, ranking 151st.

Elton John is worth £475 million, about £35 million more than Mick Jagger and Keith Richards of the Rolling Stones.

King Charles III's fortune reached £640 million, placing him in 238th place, alongside former British Prime Minister Rishi Sunak and his wife Akshata Murty, who benefited from Infosys, the technology giant founded by her father.

The combined wealth of the 350 people on the list totals £772.8 billion, down 3% from 2024.

The ranking takes into account “identifiable wealth such as land, property, racehorses, works of art or significant shares in publicly traded companies,” the newspaper noted.

It does not include private bank accounts, which means that a person's wealth “could be much greater” than stated, the newspaper added. |BGNES