Music mogul and X Factor star Simon Cowell has been placed at number six in the Music Millionaires rich list with a fortune of £200 million.

This enormous personal fortune has placed him above other famously rich members of the music industry including Sir Elton John who, according to the list, only has £195 million to his name.

At the top of the list, which ranks the highest earners in Britain and Ireland within the music industry, is Clive Calder who boasts a £1.3 billion fortune which he made following the sale of Zomba Records back in 2002.

Zomba Records may not be a well know name outside the industry however Clive Calder is better known as the man who brought us Britney Spears as he had the star signed to another of his labels, Jive.

Musical maestro Lord Andrew Lloyd-Webber was in at number two in the chart with his £680 million fortune while in third place is is Sir Cameron Mackintosh with £675 million.

Other big names on the chart include Victoria and David Beckham who have a modest, in comparison, joint wealth of £165 million and are in at number 12.

New entries on the list this year include Brian Johnson, the lead singer of AC/DC, who is worth a reported £50 million while Riverdance owners Moya Doherty and John McColgan are also in for 2011 with a combined fortune of £70 million.

As well as the main list there is also a list of the top earning young music millionaires which ranks those aged 30 and under.

At the top of the young millionaires list is opera singer and forces sweetheart Katherine Jenkins with a fortune of £13 million.

Jenkins is just ahead of X Factor judge Cheryl Cole, X Factor winner Leona Lewis and singer Katie Melua who all share second place with £12 million each.

A new entry into this list is British award winning singer Adele who, after the record breaking success of her second album 21 across the world, is now ranked at number nine with £6 million while Florence Welch and Taio Cruz are also new entries with £5 million each.

The full lists are to be published in The Sunday Times this week.