Next up is former One Direction star Styles, 30, who has amassed his £175m fortune through music and film roles. The Brit award-winning artist, known for his role in Christopher Nolan’s Dunkirk, has also invested in Manchester’s Co-Op Live music venue, which finally opened its doors on May 14 after several hiccups.

Styles shares the 17th spot on the list with boxing champ Anthony Joshua. In 19th place is 16-time Grammy-winner Adele, boasting a wealth of £170m.

Harry Styles is reportedly worth a whopping £175million (Image: PA Archive/PA Images)

The singer from Tottenham kicked off a residency at The Colosseum at Caesars Palace in Los Angeles in 2022, set to wrap up in November this year. Actor Daniel Radcliffe and pop sensation Lipa, 28, share the 29th spot, each with a respectable £90m.

Lipa, set to headline Glastonbury Festival in June, recently dropped her third studio album Radical Optimism, which rocketed to the top spot on the official UK albums chart. Radcliffe, 34, amassed his wealth after skyrocketing to fame as the young wizard in the Harry Potter film series, based on the books penned by JK Rowling.

Adele is reportedly worth £170million (Image: PA Archive/PA Images)

Topping the charts, which highlights British talent from music, sport, entertainment, and business, is Hugh Grosvenor, the seventh Duke of Westminster, boasting a staggering £10.1billion. The duke, who holds the honour of being Prince George’s godfather, came into his title and an extensive land and property portfolio at the tender age of 25.

Most of the individuals on the 40 Under 40 list are self-made millionaires, but nine were born with a silver spoon in their mouth, according to The Sunday Times. The top nine high-flyers also make an appearance on the main Sunday Times Rich List, where the entry bar is set at a cool £350m.

Ed Sheeran is reportedly worth £340million (Image: PA Wire/PA Images)

Robert Watts, the man behind The Sunday Times Rich List, commented: “Despite the tougher business environment, we have many impressive entrepreneurial stories in this year’s Sunday Times Rich List. We know our readers are particularly fascinated by those from humbler backgrounds who start their own businesses, work hard and go on to build profitable businesses.

“Our 40 under 40 list includes individuals who have quickly built fortunes from fashion, vodka, sport, and increasingly the tech sector and AI. Many of these young guns are already employing hundreds of people and some will go on to be the future of the British economy.”

Dua Lipa is reportedly worth £90million (Image: PA Wire/PA Images)

The Sunday Times Rich List 2024 ranks the top 350 wealthiest individuals in the UK, with wealth calculated based on identifiable assets such as land, property, art, racehorses, and significant shares in publicly traded companies.

However, it doesn’t include bank accounts, as the publication claims it has no access to this information.

The 40 Under 40 List features those who have amassed the largest fortunes and are aged 40 or under as of May 1 this year.