Queen Elizabeth II has dropped out of the Sunday Times Rich List's top 300 most wealthy for the first time since the record began.

The monarch does not feature in the 2015 list, which was published today.

The list was started in 1989, and profiles the most wealthy people in Britain, and outlines where their wealth comes from.

The Queen topped the first list, but this year has come in at 302 with a wealth of £340 million. This draws her level with Assem Allen and family (generators), John Duffield and family (finance) and Clinton, Spencer and John McCarthy (construction). In 2014, she placed at 285 on the list.

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However, it's not all bad news for the coffers of the family Windsor and it doesn't look like the Queen's going to be signing on any time soon.

Her income has actually risen by £10million thanks, in part, to the Sovereign Grant, which sees her receive 15 per cent of the profits from the Crown Estate.

The Queen's investment portfolio is also estimated to have grown to £110million.

Also, the Rich List doesn't take the Royal Collection into account. This priceless collection of artworks - including works by Rembrandt, Monet, Landseer and Durer - will probably do quite well on Flog It! if times get even harder for the monarch.

This year's list shows a boom in British billionaires - there are now 117 of them, an increase from 104 in 2014.

2015's wealthiest person is Len Blavatnik, a Ukraine-born businessman who made his fortune in music and oil.