"For years our music millionaires list has been dominated by older acts, such as the Rolling Stones and Sir Elton John, who have an older audiences able to pay a premium to see their favourite acts", Robert Watts, who compiles the Sunday Times Rich List, said in a statement.
In the 30 annual Sunday Times Rich List, set to be published this Sunday (May 12), more than one artist under 30 made major money moves.
The ex-Beatle and his wife, heiress Nancy Shevell, enjoy a combined wealth of £820 million, putting them at the top of the list.
Sir Paul is now the richest musician in the history of the Sunday Times' rich list thanks to the never-ending royalty stream from The Beatles back catalogue, plus a 37-date global tour grossing £100m at the box office.
Scottish DJ and producer Calvin Harris is the only new entry in the list's top twenty, on £140 million, up by £20 million, while pop star Rita Ora has joined the list of the wealthiest young musicians, with £16 million.
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Sir Paul's £40 million rise in net wealth is split equally between revenue from the Beatles' songs and income from a 37-date tour.
Theater legend Sir Andrew Lloyd Webber is #2 on the list, followed by U2, who have a collective worth of about $720 million.
Coincidentally, Adele's third album, "25", which was released in 2015, earned her this great feat, with 25 still standing among the best selling album in 2017.
Adele is the wealthiest young musician for the second consecutive year, with £140 million.
Niall Horan made £46 million, Liam Payne and Louis Tomlinson both raked in £42 million.