An annual rich list says Paul McCartney is Britain's first billionaire musician

Paul McCartney performs at Glastonbury Festival in Worthy Farm, Somerset, England, Saturday, June 25, 2022. (Joel C Ryan/Invision/AP, File)

LONDON — Paul McCartney is a billionaire Beatle.

According to figures released Friday, the former member of the Fab Four is the first British musician to be worth 1 billion pounds (US$1.27 billion).

The annual Sunday Times Rich List calculated that the wealth of the 81-year-old musician and his wife, Nancy Shevell, had grown by 50 million pounds since last year thanks to McCartney's 2023 Got Back tour, the rising value of his back catalogue and Beyonce's cover of The Beatles' "Blackbird" on her "Cowboy Carter" album.

A "final" Beatles song, "Now and Then," was also released in November and topped music charts in the U.S., the U.K. and other countries. Surviving Beatles McCartney and Ringo Starr completed a demo track recorded in 1977 by the late John Lennon, adding in guitar by George Harrison, who died in 2001.

The newspaper estimated 50 million pounds of the couple's wealth is due to Shevell, daughter of the late U.S. trucking tycoon Mike Shevell.

McCartney ranked 165th overall on the newspaper's respected and widely perused list of the U.K.'s 350 richest people. Top spot went to Gopi Hinduja and his family, who own the banking, media and entertainment conglomerate Hinduja Group and are worth an estimated 37 billion pounds.

Other entertainment figures on the list include "Harry Potter" author J.K. Rowling, whose fortune is estimated at 945 million pounds, and singer Elton John, estimated to be worth 470 million pounds.

King Charles III ranked 258th with an estimated weath of 610 million pounds. The king's fortune includes the large inherited private estates of Sandringham in England and Balmoral in Scotland. The total does not include items that are held in trust by the monarch for the nation, such as the Crown Jewels.