Queen Elizabeth has dropped out of England’s rich list for the first time after taking out the top spot just 25 years ago.

The English monarch, 89, topped the Sunday Times Rich List in 1989 when her personal wealth was listed at £5.2 billion, but this year she didn’t even make the top 300.

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The royal placed 302nd on the list with a net worth of £340 million.

The fall in Queen Elizabeth’s ranking is not due to a fall in her wealth however, with the number of billionaires in the country soaring.

The list found the wealthiest 1,000 individuals had a combined fortune of £547.1 billion – double the wealth of the top 1,000 at the time of the global financial crisis in 2009.

Queen Elizabeth’s wealth has grown £10 million since last year when she was ranked 285th on the list.

Her fortune comes from property holdings including Balmoral Castle in the Scottish Highlands, stud farms, a fruit farm, fine jewellery and an extensive art collection, as well as one of the world’s largest stamp collections.

Not included is Buckingham Palace, which is crown land owned by the UK government and estimated to be worth £5 billion.

The Daily Mail said the fall in the monarch’s ranking was due to a change in criteria which excluded the value of things like the royal art collection.

Ukrainian Warner Music owner Len Blavatnik topped the list with a wealth of £13.2 billion.

Financier brothers Sri and Gopi Hinduja were pushed to second place with a wealth of £13 billion.

Other notable appearances on the list included Virgin founder Richard Branson at 20th place with a wealth of £4.1 billion, and author J.K. Rowling, who placed 193rd with a fortune of £580 million.