Rise in number of billionaires

Bicester Advertiser: The Duke of Westminster is ranked 10th on The Sunday Times Rich List The Duke of Westminster is ranked 10th on The Sunday Times Rich List

The number of billionaires living in Britain has risen to more than 100 for the first time, a study has found.

Some 104 billionaires are now based in the UK - more than triple the number from a decade ago - with a combined wealth of more than £301 billion, according to the Sunday Times Rich List.

It means Britain has more billionaires per head of population than any other country, while London's total of 72 sterling billionaires is more than any other city in the world, the study found.

Indian-born brothers Sri and Gopi Hinduja top the list of the UK's wealthiest billionaires with a fortune of £11.9 billion.

The London-based pair, who run the global conglomerate Hinduja Group, saw their wealth rise by £1.3 billion in the last year, the study found.

They replaced Russian business magnate Alisher Usmanov at the top after the Arsenal shareholder saw his fortune fall to £10.65 billion, the Sunday Times Rich List said.

The richest Briton, the Duke of Westminster, is ranked 10th on the list after his fortune rose to £8.5 billion.

Last year, 88 billionaires were living in the UK, worth a total of more than £245 billion, according to the Sunday Times Rich List. In 2004, the number of billionaires in Britain was 30, with a combined wealth of £65 billion, it said.

Among the new members of the billionaire club is West End producer Sir Cameron Mackintosh, who saw his fortune rise by £175 million in the last year and is now worth £1 billion, the survey found.

Plymouth-born Chris Dawson, who owns and runs The Range discount store chain, saw his fortune rise by £695 million in the past 12 months to net £1.28 billion.

Meanwhile, Jon Hunt, founder of estate agents Foxtons, has a £1.07 billion fortune, up £145 million in 2013, the Sunday Times Rich List said.

Sports Direct founder Mike Ashley and Sir Richard Branson are among the UK's top 25 wealthiest billionaires.

In Scotland, Sir Brian Souter and Ann Gloag, the siblings who founded the Stagecoach transport empire, share a fortune of £1 billion - an increase of £270 million on last year.

The wealthiest new entry is Carrie and Francois Perrodo and their family, who own the London-based Perenco oil and gas operation and are said to be worth £6.14 billion.

It is the first time since 2008 that the minimum wealth of the 50 richest people in the country has exceeded £1.5 billion, according to the Sunday Times Rich List.

A decade ago, a personal fortune of £700 million was needed to be among Britain's 50 wealthiest people. The entry point to the UK top 50 today is £1.7 billion, the Sunday Times Rich List found.

The combined wealth of the Britain's super rich is now ahead of the pre-recession levels of 2008, when the total wealth of the UK's 75 billionaires was £201 billion.

Seventy two billionaires are now based in London, compared with 48 sterling-equivalent billionaires in Moscow, 43 in New York, 42 in San Francisco, 38 in Los Angeles and 34 in Hong Kong.

The 2014 Sunday Times Rich List will be published on May 18.

Comments (4)

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12:05pm Sun 11 May 14

Excluded again says...

The rich get richer and the rest of us struggle to make ends meet. So government policy is working just as planned.

Remember - these were the people that the government found the money to be given a massive tax cut last year at a cost of £1.3 billion each and every year..
The rich get richer and the rest of us struggle to make ends meet. So government policy is working just as planned. Remember - these were the people that the government found the money to be given a massive tax cut last year at a cost of £1.3 billion each and every year.. Excluded again
  • Score: 7

12:21pm Sun 11 May 14

juanbbien says...

Why do they keep publishing these rich lists like the rest of us are interested it's a bloody disgrace
Why do they keep publishing these rich lists like the rest of us are interested it's a bloody disgrace juanbbien
  • Score: 0

9:23pm Sun 11 May 14

varteg1 says...

juanbbien wrote:
Why do they keep publishing these rich lists like the rest of us are interested it's a bloody disgrace
Keep on publishing...sooner or later the people will either, do as they do today...ignore it or rise up and take back what these billionaires with overt Tory government approval have in effect thieved from us all via the massive mark ups and profit margins they put on their goods and services

There is NO justification whatsoever for individuals to amass multiples of ONE THOUSAND MILLION Pounds, especially when millions are struggling to feed the bank accounts that hold those billions.

It is invariably MONEY manipulation that fills their . accounts, an ordinary entrepreneur from a factory floor cannot do enough business to generate such wealth unto him or her self.

The games these folk play with our means to survive needs to be seriously looked at to see how they managed to get so much in the bank.

The whole matter smacks of immorality and corruption.
[quote][p][bold]juanbbien[/bold] wrote: Why do they keep publishing these rich lists like the rest of us are interested it's a bloody disgrace[/p][/quote]Keep on publishing...sooner or later the people will either, do as they do today...ignore it or rise up and take back what these billionaires with overt Tory government approval have in effect thieved from us all via the massive mark ups and profit margins they put on their goods and services There is NO justification whatsoever for individuals to amass multiples of ONE THOUSAND MILLION Pounds, especially when millions are struggling to feed the bank accounts that hold those billions. It is invariably MONEY manipulation that fills their . accounts, an ordinary entrepreneur from a factory floor cannot do enough business to generate such wealth unto him or her self. The games these folk play with our means to survive needs to be seriously looked at to see how they managed to get so much in the bank. The whole matter smacks of immorality and corruption. varteg1
  • Score: 0

1:17pm Sat 31 May 14

SocialistParty*SomersetBranch says...

Super-wealthy get richer



To join this club you need a minimum of £85 million. That's right; it's membership of the Sunday Times Rich List, featuring Britain's thousand wealthiest people. With sickening regularity, this year's list shows that the super-rich have got even richer.

This glaring inequality will further antagonise the overwhelming majority in the UK who continue to be battered with government imposed austerity, wage cuts, zero-hour contracts and ever rising utility, transport and housing costs.

The list reports that the richest 1,000 people in Britain have increased their wealth by 15% in the last year to an unimaginable total of £520 billion. That's enough money to run the NHS for several years and still have enough left over to build millions of new affordable homes, scrap tuition fees and do much more besides.

Deficit

These mega-rich individuals collectively increased their combined fortunes by £70 billion last year. So what is Chancellor George Osborne waiting for when he demands that the budget deficit is eliminated? It's simple George, slap a wealth tax on these people and restore the cuts in jobs, benefits and public services!

Of course the millionaire, Oxford-educated Tory chancellor has no intention of imposing a levy on his chums. But that hasn't stopped him imposing a pernicious bedroom tax and removing council tax support for the poorest in society, while reducing the top rate of income tax and corporation tax. And for good measure he's left open enough tax loopholes to allow the richest to salt away their wealth in offshore tax havens.

But is Labour leader Ed Miliband jumping up and down demanding the application of tax justice measures? No. As usual, he's as quiet as a church mouse for fear of antagonising big business.

And what about the darling of the mass media - the 'anti-establishment' establishment Ukip? Not a peep from Nigel Farage. But that's not surprising as one of his party backers is Paul Sykes, who just happens to be a member of the rich list club!

Working class people need a new, mass party with socialist policies to end this unacceptable social inequality. That's why continuing the important pioneering electoral work of the Trade Unionist and Socialist Coalition will assist in bringing about such a vitally necessary party.

Don't just get angry...Get organised!

www.socialistparty.o
rg.uk
Super-wealthy get richer To join this club you need a minimum of £85 million. That's right; it's membership of the Sunday Times Rich List, featuring Britain's thousand wealthiest people. With sickening regularity, this year's list shows that the super-rich have got even richer. This glaring inequality will further antagonise the overwhelming majority in the UK who continue to be battered with government imposed austerity, wage cuts, zero-hour contracts and ever rising utility, transport and housing costs. The list reports that the richest 1,000 people in Britain have increased their wealth by 15% in the last year to an unimaginable total of £520 billion. That's enough money to run the NHS for several years and still have enough left over to build millions of new affordable homes, scrap tuition fees and do much more besides. Deficit These mega-rich individuals collectively increased their combined fortunes by £70 billion last year. So what is Chancellor George Osborne waiting for when he demands that the budget deficit is eliminated? It's simple George, slap a wealth tax on these people and restore the cuts in jobs, benefits and public services! Of course the millionaire, Oxford-educated Tory chancellor has no intention of imposing a levy on his chums. But that hasn't stopped him imposing a pernicious bedroom tax and removing council tax support for the poorest in society, while reducing the top rate of income tax and corporation tax. And for good measure he's left open enough tax loopholes to allow the richest to salt away their wealth in offshore tax havens. But is Labour leader Ed Miliband jumping up and down demanding the application of tax justice measures? No. As usual, he's as quiet as a church mouse for fear of antagonising big business. And what about the darling of the mass media - the 'anti-establishment' establishment Ukip? Not a peep from Nigel Farage. But that's not surprising as one of his party backers is Paul Sykes, who just happens to be a member of the rich list club! Working class people need a new, mass party with socialist policies to end this unacceptable social inequality. That's why continuing the important pioneering electoral work of the Trade Unionist and Socialist Coalition will assist in bringing about such a vitally necessary party. Don't just get angry...Get organised! www.socialistparty.o rg.uk SocialistParty*SomersetBranch
  • Score: 0
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