The Beatles legend's $1.4 billion fortune earned him third place. He was beaten by music mogul Clive Calder, who netted a staggering $2.5 billion when he sold his independent Zomba record label to BMG, and theater composer Andrew Lloyd Webber who is worth $1.5 million, who took first and second place respectively.
Madonna and husband Guy Ritchie come in at number six on the list, with a combined $550 million, followed by Elton John at seven, who is worth $450 million.
Rolling Stones frontman Mick Jagger is eighth with $430 million. The 63-year-old is the richest of his band mates, although guitarist Keith Richards, 63, closely follows with $380 million.
Keith shares joint tenth place on the list with ageing Welsh singer Tom Jones.
Eric Clapton, Ringo Starr, Phil Collins, David Bowie, and Barry and Robin Gibb also feature in the top 20.
The list, which is compiled in two parts with a separate list for younger earners, is published in Britain's Sunday Times newspaper this weekend.
Coldplay's Chris Martin, 30, takes second place in the young earners list with $60 million.
James Blunt, 33, comes in at sixth, having raked in $36 million since the release of his debut album "Back to Bedlam" in 2004.
Joss Stone, who turned 20 earlier this month, is the youngest of the mega-earners. She shares seventh place with Charlotte Church, 21, with a fortune of $40 million.
Classical violinist Vanessa-Mae Nicholson tops the young earners list with $62 million.
