Grime artist Stormzy, who grew up in Croydon, debuts on the list after scoring his first number one single with Vossi Bop.
Ed Sheeran has doubled his wealth in the last year to £160m, according to the new edition of The Sunday Times Rich List.
The 28-year-old singer-songwriter, who has sold 150 million records worldwide, is now the 17th richest musician in the UK
He has overtaken Adele who remains the wealthiest female recording artist at number 22 with £150m.
Suffolk-raised singer Sheeran also topped the list of wealthiest young musicians, ahead of former One Direction stars Harry Styles and Niall Horan at two and three respectively.
All five former members of the chart-topping boy band feature on the list of young artists with Louis Tomlinson, Liam Payne and Zayn Malik appearing at fifth, sixth and seventh respectively.
Sheeran and Adele are exceptions in the main list of richest musicians, which is dominated by veteran stadium rockers with decades of experience and sales.
Grime artist Stormzy debuts on the list with a fortune of £16m but his placing is not clear.
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