“Shape of You” hitmaker, Ed Sheeran has toppled “Hello” crooner, Adele on the Rich List.

He achieved this feat by doubling his wealth in just a year.

In a new edition of the Sunday Times Rich List, the 28-year-old Sheeran’s net-worth is placed at N74.9 billion (£160 million). This is an N37.4 billion £80 million) increase from last year.

31-year-old Adele, on the other hand, is placed at a net-worth of N70.2 billion (£150 million) and retains her title of the wealthiest female recording artist.

With Sheeran’s net-worth, he places at number 17 while Adele places on number 22 on the Sunday Times Rich List, which is a list of the richest musicians in the UK and Ireland.

The two stars are two of the youngest stars on the list that is mainly dominated by veteran musicians including the likes of Sir Elton John and Sir Paul McCartney.

Occupying top place on the list is 71-year-old Andrew Lloyd Webber with a fortune of N384 billion (£820m) while he is followed by 76-year-old Sir Paul McCartney with N351.4 billion (£750m) after his wealth reduced by N32.7 billion (£70m) from last year’s total.

Irish rock group U2 are third on the Rich List with a fortune of N273 billion (£583m), Sir Elton John is at number four on the list with a fortune of N149.9 billion (£320 million) and Sir Mick Jagger rounds up the top five  with a net-worth valued at N128.8 billion (£275 million).