Lewis Hamilton races into Rich List...but super-wealthy are seeing flatline in their fortunes

Formula One winner Lewis Hamilton has raced into the Sunday Times rich list for the first time with an estimated fortune of £106 million.

The richest people in Britain are the brothers David and Simon Reuben, whose business empire wealth now stands at £13.1 billion, according to the report.

Racing driver Hamilton was one of several new celebrity entrants to the annual list. Ali G comedian Sacha Baron Cohen also made his debut with a total wealth of £105 million.

Adele was named as Britain's richest ever female musician with an £85m fortune - an increase of £35m compared to last year.

Meanwhile the Queen is at 319th place with an estimated £340 million.

However, the newspaper found that all is not well in the world of superwealth, with some many of the country's richest people seeing the value flatline.

Entrants had to have at least £103 million to make it onto the 2016 list, up from £100million last year.

That represents just a three per cent rise - far less than the sharp increases seen in previous years, said the newspaper.

It also noted that the number of billionaires within London has dropped for the first time since the 2008 financial crisis, and now stands at 77 as opposed to last year's 80.

Robert Watts, compiler of the Rich List, said that losers had been hit by a "cocktail of plunging stock markets, low oil prices and the crisis in the steel industry".

Among the biggest losers is the steel magnate Lakshmi Mittal, who was in first place six years ago with a fortune of 27.7 billion but has since lost three quarters of his wealth in the current steel crisis.

He and his family are currently at 11th place with £7.12 billion, marking a drop of £2.08 billion in the last year alone.

The Sunday Times noted that a total of ten people have dropped out of the list of billionaires - though they still remain multimillionaires.