Rihanna leapfrogs homegrown stars on UK music rich list

Rihanna has staked a place near the top of the UK’s annual music rich list after moving to Britain last year, beating the likes of 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 £468m.

Her wealth has been boosted by the success of her Fenty cosmetics brand and other partnerships such as her lingerie line, as well as record sales from her eight albums.

Paul McCartney and Andrew Lloyd Webber remain the two richest British or British-based musicians – both are valued at £800m.

But Rihanna is a new entry at number three on the list, which is a precursor to the annual rich list that comes out on Sunday.

Much of her wealth comes from a partnership with the French luxury goods brand, LVMH. Their cosmetics brand is valued at $3bn (£2.45bn), with Rihanna having a reported 15% stake worth £351m.

Robert Watts, the compiler of the Sunday Times Rich List, said Rihanna’s inclusion typifies the “seismic change” 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 through the yellowing pages of the first list in 1989, it looks like a rogues’ gallery of middle-aged and elderly white men. It was earls, dukes and figures from manufacturing and finance,” he said. “Now money is being made in different ways, and by all sorts of different people – like Rihanna.”

Lord Lloyd-Webber retains top spot despite the closure of the West End and Broadway having an estimated £20m impact on the composer’s wealth. He shares the top spot with McCartney, who bolstered his wealth by approximately £50m after a sellout 29-date tour and a bestselling children’s book.

Ed Sheeran, 29, remains the wealthiest young musician (under 30) with his vast, multi-date sellout tours helping him amass a £200m fortune.

Watts expects a difficult 2020 for artists who, he says, are going to be hit hard by the impact of Covid-19, with live touring – which is the big earner for acts as physical album sales dry up and streaming payments bring in paltry sums – coming to a halt.

“The cancellations of tours and the pulling of albums mean it will be a thin year,” he said. “We expect most artists’ earnings to flatline but not for them to necessarily lose money, because the bulk of their wealth is already earned and safely in their bank accounts.”

The rest of the Sunday Times rich list, which details the wealth of the 1,000 richest people in Britain and is in its 32nd year, is released this Sunday.

Top 10

1= Lord Lloyd-Webber (£800m, down £20m)

1= Sir Paul McCartney (£800m, up £50m)

3 Rihanna (£468m, new)

4 Sir Elton John (£360m, up £40m)

5 Sir Mick Jagger (£285m, up £10m)

6= Olivia and Dhani Harrison (£270m, up £20m)

6= Keith Richards (£270m, up £10m)

8 Sir Ringo Starr (£260m, up £20m)

9 Michael Flatley (£206m, up £2m)

10= Ed Sheeran (£200m, up £40m)

10= Sir Rod Stewart (£200m, up £10m)

10= Sting (£200m, no change)