Rihanna could be UK’s first billionaire musician after moving to London with £496m in the bank, says music rich list

Rihanna looks set to be the UK's first billionaire musician after moving to London in 2019.

Rihanna, 32, decided to move across the pond so that she could be closer to the team for her brand Fenty and now she's climbing her way to the top of the rich list.

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The Barbadian singer, who reportedly has £496m in the bank, is currently ranked third on the list put together by The Sunday Times, that is set to released in full this weekend.

There's just two men who stand in the way of Rihanna bagging the top spot - Sir Paul McCartney and Sir Andrew Lloyd Webber - who are both valued at £800m each.

However, it's thought that theatre mogul Sir Andrew could take a hit due to the current global coronavirus pandemic after theatres in the West End were forced to close.

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Meanwhile, Rihanna has made most of her fortune from music and her fashion and beauty brand Fenty, and is climbing her way to the top.

Robert Watts, who created the list, claims that if the We Found Love hitmaker stays in the UK, then she is in with a good chance of reaching the top spot.

"Rihanna typifies the seismic change we've seen in the rich list in recent years," he explained.

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"Once dominated by inherited wealth, the bulk of our 1,000 entries are now self-made people with modest and even troubled starts in life who are driven to work exceptionally hard.

"Still only 32, if Rihanna remains based in the UK she could well pip Sir Paul McCartney and Lord Lloyd Webber to be the Sunday Times Rich List's first billionaire musician."

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He added: "Touring remains the big earner for many of the stadium-filling acts on our musicians' list. But the COVID outbreak has wrecked concert plans and so we expect the wealth of many of these musicians will flatline over the coming year."

Meanwhile, it was also revealed that Ed Sheeran's £200million fortune has made him the UK's richest musician under 30, with the star raking in another £40million in a year.