Estimated to have a staggering $320 million fortune, the former 'American Idol' judge breaks into the Top 10 of the annual Sunday Times list above Elton as well as Mick Jagger.
Talent show tycoon Simon Cowell is laughing all the way to the bank after jumping above Elton John and Mick Jagger in the rich stakes, according to Britain's Sunday Times Rich List.
The music mogul, famed for his judging roles on "American Idol" and "The X Factor", rose from 11th place to number six on the newspaper's 2011 music millionaires countdown thanks to his staggering $320 million (GBP200 million) fortune.
His wealth, which has increased by $56 million (GBP35 million) since 2010, takes him above rock legends John and Jagger, who are in the seventh and eighth place on the list, with estimated bank balances of $312 million (GBP195 million) and $304 million (GBP190 million) respectively.
Sitting atop the list is Clive Calder, who sold Zomba Records in 2002 and has more than $2 billion in the bank. Others in the money include Lord Andrew Lloyd Webber ($1.8 billion), Sir Cameron Mackintosh ($1.1 billion), Sir Paul McCartney ($792 million/GBP495 million), Simon Fuller ($600 million/GBP375 million), Sting ($288 million/GBP180 million) and Keith Richards ($280 million/GBP175 million).
But they have some competition from a set of modern money makers in the music industry - Welsh opera star Katherine Jenkins is sitting pretty with a $20 million (GBP13 million) fortune, followed closely by Cheryl Cole, Leona Lewis and Katie Melua who all have $19 million (GBP12 million). Joss Stone, Charlotte Church, Craig David, Paolo Nutini, Adele, Lily Allen, Natasha Bedingfield, Duffy and Amy Winehouse all have approximate fortunes of between $14 million (GBP9 million) and $9 million (GBP6 million).