Ed Sheeran’s Divide Tour has been named the highest-grossing tour of all time, breaking a record set by U2 that had stood for eight years.

Coming off the back of the chart-topping album of the same name, the Divide tour began in March 2017, and will have encompassed 255 shows when it finishes with four homecoming gigs in Ipswich later this month. So far it has grossed $736m (£607m), breaking U2’s record of $735m, with 12 dates still left to play.

It has also been named the most attended tour of all time: when it finishes, more than 8.5m people across 43 countries will have seen Sheeran perform, breaking U2’s record of 7.3m.

Writing on Instagram, Sheeran said: “Thanks so much for each and every one of you who have come to a show. 12 shows left, will never forget it.”

Sheeran’s manager Stuart Camp told Pollstar, who amassed the tour data: “What Ed has accomplished is truly incredible … to even be in the same ballpark as [U2] or spoken in the same sentence with a touring act like that is very humbling”.

U2’s record was set in 2011 by their 110-date 360° tour. Rather than focusing on stadiums as U2 did, Sheeran has included more intimate arenas – his average concert attendance is 34,541, around half U2’s 66,091 average. He also rejected VIP areas and sold tickets at a relatively low price, 14.2% lower on average than U2’s, but the sheer number of dates has ensured the record was broken nonetheless.

Sheeran found time to record a new album during the tour, No 6 Collaborations Project, featuring all-star collaborations with the likes of Cardi B, Bruno Mars, Stormzy, Eminem and Justin Bieber. It was released on 12 July and is currently No 1 in the UK and US, while two of its singles, I Don’t Care and Beautiful People, have topped the UK singles chart.