LONDON: Daniel Radcliffe, Harry Potter in the movie series, has been named Britain’s richest teenager with a personal wealth of 23 million pounds. The16-year-old has knocked out fellow youngster and singer Charlotte Church.

Daniel’s fortunes have gone ascending throughout his career ever since he signed as a 11-year-old schoolboy to become the wizard Harry Potter. He got debut payment of just 150,000 pounds for the first movie, The Philosopher’s Stone.

It went up to 1.7 million pounds for the second film, Chamber of Secrets, and to 3.4 million pounds for The Prisoner Of Azkaban. While his earnings from the latest movie, Harry Potter and the Goblet Of Fire, which opened in the UK last week, are yet to be assessed, he has signed a deal for more than 8 million pounds for the fifth in the series, Harry Potter and The Order of the Phoenix.

Daniel’s parents have set up a firm, Gilmore Jacobs, in 2000 to manage his assets and the estimates of his worth have been tracked by Companies House, the organisation which charts the financial activity of all limited businesses in the U.K. His parents, Alan, a literary agent, and Marcia, a casting director, each hold 1,000 pounds worth of shares in the company and there is a provision in the company’s constitution that they will receive on the original stake in case the firm folds up. The balance will belong to Daniel.

Charlotte Church, the Voice of an Angel singer, is estimated to worth 10 million pounds. Daniel was second to her this time last year.

Daniel’s co-stars, Emma Watson, 15, who plays Hermione Granger, and Rupert Grint, 17, who plays Harry’s best friend, Ron Weasley, have also seen their earnings swell in recent months.

However, what the Harry Potter author J.K. Rowling has earned outshines all these records. Once a struggling mother, she is now sitting on an estimated fortune of 500 million pounds from the books, which have been sold in their millions all over the world.