JK Rowling to set to be a billionaire

JK Rowling is on course to become the world's first billionaire writer.

Warner Bros estimate the Harry Potter phenomena is now worth more than Batman's £710m franchise.

The author is now earning more royalties through merchandise than book sales.

Philip Beresford, who compiles the Sunday Times rich list, said: "If this carries on over the seven books she is writing and all the films, she could be on course to be the world's first billionaire author.

"She is the biggest brand name in literature since Shakespeare."

Rowling has now sold 124 million books worldwide.

Harry Potter toys are expected to dominate the Christmas sales charts this year.