The 28-year-old singer has nearly doubled his wealth over the past 12 months to take the number one spot from Adele, according to Heat magazine.

Daniel Radcliffe, 30, is second with an estimated fortune of £90m while Harry Styles, 25, is third with close to £64m in the bank.

Other names on Heat's annual rich list include Cara Delevingne and Little Mix.

Heat magazine's annual guide looks at the accounts, sales and endorsements of the UK's most famous celebrities aged 30 or under.

Last year, Adele topped the list with an estimated fortune of £147.5m - but she turned 31 in May so can no longer be included.

Stormzy, Cara Delevingne and Daniel Radcliffe all feature on the rich list

The Harry Potter magic worked for Emma Watson, 29, as well as Daniel Radcliffe - her £57m places her fourth on the rich list.

Niall Horan, 26, comes in at fifth with £54.8m while collectively Little Mix are sixth with a combined worth of £50m.

The other stars who make up the top 10 are Louis Tomlinson, 27, (£46m), Liam Payne, 26, (£44m), Cara Delevingne, 27, (£39.5m) and Zayn Malik, 26, (£38m).

But they're all lucky that Kylie Jenner isn't a Brit - her £736m fortune is more than the top 10 UK stars combined.

Stormzy, 26, is the highest new entry at number 14 with an estimated £12m, which has been boosted in part by headlining Glastonbury this summer.

Other new entries include Dua Lipa, 24, (15th with £11.8m), Maisie Williams, 22, (25th with £4.5m) and George Ezra, 26, and Jess Glynne, 30, who are in joint 27th place with an estimated wealth of £4.4m.

How did Ed double his money?

Ed's record breaking tour brought a huge boost to his bank balance

According to the magazine, Ed's personal wealth has jumped from £94m in 2017 to £170m this year.

It names his two-year Divide tour and song-writing for other artists for the huge jump on his monthly statements.

The Divide Tour started in March 2017 and ended in August of this year, setting records for the highest-grossing concert tour and the most tickets sold by a tour.

His recent song-writing credits include 2002 for Anne Marie, Thursday for Jess Glynne and Woman Like Me for Little Mix - all of which reached the top 10 in the UK charts.

And as well as royalties from previous hits like Thinking Out Loud and Shape Of You, Ed has also released new music of his own in the past 12 months.

Singles I Don't Care and Beautiful People have both reached number one in the UK and his fourth album, No.6 Collaboration Project, sold more than 125,000 copies in its first week in the UK.

'Grossed half a billi'

Analysis by Steve Holden, Newsbeat entertainment reporter

It's hardly surprising that Ed Sheeran's estimated wealth practically doubled in a year... he even told us himself.

"Grossed half a billi on the Divide tour," he raps on Take Me Back To London. Divide was the biggest and most attended tour of all time.

There was nothing overly flash about it either - he just played loads of large venues to a huge number of people (an estimated 8.5 million).

Ticket sales are obviously going to make up a bulk of his wealth, but he gets pocket money from the songs he writes for others.

With credits on radio-friendly hits for (among others) Little Mix, Anne-Marie and Jess Glynne, it means he'll always have a steady stream of royalties to keep his bank account topped up.

Ed is an easy-going, likeable pop star but he's a shrewd businessman, with a hunger to keep going, breaking records and earning more.