"That's the big difference we've seen over the 30 editions of The Sunday Times Rich List - wealth creation is now a story of self-made men and women".
In 1989, the rich list had only five rich individuals from the ethnic minorities; now the number has risen to 86, including 83 from the Asian community. Ed Sheeran made a whopping 28 million pounds a year ago, putting his total net worth up to 80 million pounds.
His wealth has grown more than any other British musician thanks to his mega-hit album Divide.
The 60-year-old was knighted this year for services to philanthropy - recent donations include £50 million to fund the Tate Modern's new wing, and £5 million towards the Victoria and Albert Museum's new entrance, as well as funding the Blavatnik School of Government at Oxford University.
His massive bank balance makes him the second-wealthiest young musician just behind London songstress Adele who is worth £140m.
So who made the list?
She is worth £16m, and is 11th in the list of wealthiest young musicians.
According to the BBC, the rest of the list includes Rolling Stones singer and guitarist Mick Jagger and Keith Richards, the heirs of late Beatle George Harrison, former Beatle Ringo Starr, and Sting.
And pop rocker Robbie Williams also enjoyed a £15m bump up the list bringing his total worth to £165m.
After topping Britain's rich list for several years, the Hinduja brothers were relegated to the second position in the latest version by the rags-to-riches story of Jim Ratcliffe, who founded a chemical company and is estimated to be worth £21.05 billion.
"But some of the biggest risers over the past year have been amongst younger acts such as Ed Sheeran, Adele and Calvin Harris".
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