Sir Paul: Sitting pretty on �713m

Williams' fortune puts him at 962nd position in the list.

His ranking is equal to singer Victoria Beckham and her husband - Manchester United midfielder David Beckham - whose fortunes have been counted jointly.

He is joined by fellow debutant Pete Waterman, producer and judge on ITV's Pop Idol programme.

Grow

Waterman has an estimated fortune of about �45m, putting him at 794th place in the overall list and 39th in the music millionaires' chart.

Robbie Williams' fortune is expected to grow after he negotiates a new record contract with EMI.

Sir Elton is at number six in the music millionaire list

Sir Paul McCartney remains the wealthiest musician, with a personal fortune of �713m.

He stays ahead of composer Sir Andrew Lloyd Webber, who is second of the list with a fortune of �420m.

McCartney's fortune remains relatively unchanged on last year but a world tour is expected to swell the coffers.

The chart of British music millionaires puts Sir Cameron Mckintosh in third position with a fortune of �400m, Madonna and husband Guy Ritchie in fourth spot, with a combined income of �200m.

Producer Robert Stigwood has a fortune estimated to be worth �200m, ahead of Sir Elton John (�160m), Mick Jagger (�155m), Sting (�150m) and the Bee Gees (�140m).

George Harrison's widow, Olivia, is ninth in the music list, with �140m.