Split hits Sir Paul's rich-listing rating

The former Beatle has plummeted from being ranked the 65th richest person in Britain in last year's list to 102nd this time around.

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The estimation of the 64-year-old's wealth is based upon financial experts' predictions that his divorce will cost him £100million.

Nevertheless, he is still valued at £725million. Sir Paul's placing in the rich list is the soundest indication so far of how much Miss Mills is likely to get in her settlement.

Philip Beresford, compiler of the annual Sunday Times Rich List, said: "I took a provision on how much she was likely to get in a divorce settlement and estimated £100million of his fortune.

"That is the only reason he has gone down so significantly."

Insiders predict wranglings over the divorce payout could drag on until March next year.

Mr Beresford's calculations were informed by recent high-profile splits, including Chelsea FC owner Roman Abramovich's £1billion divorce settlement with ex-wife Irina.

But even that sum only dented the Russian oil magnate's fortune, and his estimated worth of £10.8billion is enough for him to maintain second spot on the list.

The findings are to be previewed tonight in a TV programme called Britain's Rich List.

A spokesman for the programme said: "Abramovich made a fortune this year, which would have rocketed his wealth, but he had to pay a great deal in his divorce, meaning that his worth is effectively the same."

Of the five wealthiest individuals on the list, only one, the Duke of Westminster, was born in the UK.

Indian-born steel magnate Lakshmi Mittal once again tops the list, but he has moved even further in front of the chasing pack, up £4.1billion to £19billion.

Mr Beresford said: "It is absolutely extraordinary. He is expert at spotting an industry and getting in there early, buying it cheaply and selling at a high price.

"That is the secret of his success and the only way to make money."

Others tipped to be winners in this year's list are David Beckham, who has increased his wealth by £27million to £112million as his lucrative move to play in the U.S. looms.

The former England captain has jumped 55 places in the rankings and is now 619th.

And Simon Cowell is the music industry's fastest-rising figure. The X Factor judge has leapt from 944th last year to 700th this year, on the back of a £60million rise in his estimated wealth to £100million.

There are ten more billionaires on this year's rich list than last year's, partly because Britain is something of a magnet for tycoons from all over the world.

Despite his estimated wealth increasing, Sir Richard Branson has dropped out of the top ten. With £3.1billion, the Virgin entrepreneur has dropped from ninth to 11th.

Britain's Rich List is on ITV1 tonight at 9pm.