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Rihanna has held a place near the top of the UK’s annual list of rich music after moving to Britain last year, beating out players like Mick Jagger, Elton John and Rod Stewart.
The 32-year-old singer, originally from Barbados, qualifies for the list for the first time after her surprise move to London and has an estimated fortune of £ 468 million.
Her wealth has been fueled by the success of her cosmetics brand Fenty and other partnerships, such as her lingerie line, as well as record sales for her eight albums.
Paul McCartney and Andrew Lloyd Webber are still the two richest British or British musicians, both valued at £ 800m.
But Rihanna is a new entry at number three on the list, which is a precursor to the rich annual list coming out on Sunday.
Much of its wealth comes from a partnership with the French luxury goods brand, LVMH. Her cosmetic brand is valued at $ 3 billion (£ 2.45 billion), with Rihanna holding a 15% stake worth £ 351 million.
Robert Watts, the compiler of the Sunday Times Rich Times list, said Rihanna’s inclusion typifies the “seismic shift” that has taken place at the top of the list in recent years, as those with inherited wealth are usurped by younger self-made stars.
“If you look at the yellowed pages of the first list in 1989, it looks like a gallery of middle-aged and elderly white male criminals. They were earls, dukes, and manufacturing and finance figures,” he said. “Now money is being made from different ways, and by all kinds of different people, like Rihanna. “
Lord Lloyd-Webber retains the top spot even though the closure of the West End and Broadway has an estimated £ 20 million impact on the composer’s wealth. He shares first place with McCartney, who increased his wealth by approximately £ 50 million after a 29-date tour and a best-selling children’s book.
Ed Sheeran, 29, remains the wealthiest young musician (under 30) with his vast multi-sale tours helping him amass a fortune of £ 200 million.
Watts expects a difficult 2020 for artists who he says will be heavily impacted by the impact of Covid-19, with live tours, which is the big source of revenue for acts, as physical album sales are sold out and streaming payments bring insignificant sums – stopping.
“Tour cancellations and album extraction mean it will be a weak year,” he said. “We hope that the profits of most artists will stabilize, but not necessarily that they lose money, because most of their wealth is already earned and safe in their bank accounts.”
The rest of the rich Sunday Times list, which details the wealth of the 1,000 richest people in Britain and is in its 32nd year, is published this Sunday.
Top 10
1 = Lord Lloyd-Webber (£ 800m, down £ 20m)
1 = Sir Paul McCartney (£ 800m, up to £ 50m)
3 Rihanna (£ 468m, new)
4 Sir Elton John (£ 360m, up to £ 40m)
5 Sir Mick Jagger (£ 285m, up to £ 10m)
6 = Olivia and Dhani Harrison (£ 270m, up to £ 20m)
6 = Keith Richards (£ 270m, up to £ 10m)
8 Sir Ringo Starr (£ 260m, up to £ 20m)
9 Michael Flatley (£ 206m, up to £ 2m)
10 = Ed Sheeran (£ 200m, up to £ 40m)
10 = Sir Rod Stewart (£ 200m, up to £ 10m)
10 = sting (£ 200m, unchanged)
