Words: Alex Woodhall
The annual Sunday Times Rich List makes for grim reading for a significant handful of those involved. Britain’s billionaires have seen their wealth plummet over the last few years and the fall over the last 12 months is the worst since 2007’s credit crunch. Despite their woes, Britain’s top 20 magnates by wealth still command bank accounts most of us would struggle to imagine, let alone manage.
20. John Grayken
Worth: £4.4 billion
Age: 59
Making his first appearance in the list at an impressive 20th position thanks to his stake in property investment and development business, Quintain.
19. Sir Richard Branson
Worth: £4.5 billion
Age: 65
Britain’s most notable and recognisable entrepreneur continues to command a lofty spot on the list. His Virgin empire comprises 400 companies and covers everything from space travel to mobile phones.
18. Nicky Oppenheimer
Worth: £4.8 billion
Age: 70
Making the majority of his wealth from selling his 40% stake in De Beers for £3.2 billion back in 2011, he maintains an organic farm in Berkshire and investments in South Africa and mining group Anglo American.
17. Sir James Dyson
Worth: £5 billion
Age: 68
The eminent inventor joins Branson as Britain’s poster child for entrepreneurialism and is now so wealthy he owns more land in England than the queen.
16. Earl Cadogan
Worth: £5.7 billion
Age: 79
Owing his fortune to his property company Cadogan Group and the London property-price boom, the group owns 93 acres in Chelsea.
15. Mohamed Bin Issa Al Jaber and family
Worth: £5.8 billion
Age: 57
Runs the London-based MBI International Holding Group, which has a diverse portfolio of investments that encompasses everything from property to energy to food. He currently holds £2 billion in cash.
14. John Fredriksen
Worth: £6.3 billion
Age: 71
Norway’s richest man, his wealth comes from oil as he managed to defy fighting in the Iran and Iraq war and pick up oil from the region. He also holds investments in shipping and fish-farming.
13. Roman Abramovich
Worth: £6.4 billion
Age: 49
Famous for owning Chelsea Football Club and setting the trend for foreign benefactors in the sport, the oligarch made his money through a range of commodities and energy companies in his native Russia.
12. Sir David and Sir Frederick Barclay
Worth: £7 billion
Ages: 81
The twins made most of their money from retail and hotel operations, including famed capital locales Claridge’s, the Berkeley, and the Connaught. They sold their stake in the hotels for £2.4 billion last year, but maintain ownership of the Telegraph Media Group.
11. Lakshmi Mittal
Worth: £7.1 billion
Age: 66
Having had his fortune fall from a peak of £27.7 billion back in 2008, the steel tycoon still commands a respectable spot just outside the top 10. Falling steel and commodity prices have hit the share value in his company ArcelorMittal, which lost £5.5 billion over the last year.
10. Alisher Usmanov
(Image: Getty)
Worth: £7.5 billion
Age: 62
The Uzbek-born Russian oligarch made his money through steel and iron-ore mines and also maintains a 30% stake in Arsenal Football Club. Has started to move ownership of some of his businesses back to Russia after Putin’s favourable tax laws. Has slipped from fourth spot due to the hit on commodities.
9. Hans Rausing and family
(Image: Getty)
Worth: £8.6 billion
Age: 90
Owe their wealth to Hans senior’s revolutionary packaging company Tetra Pak (Tetra Laval), which Hans co-inherited from his father Rans Rausing. It is currently the largest food packaging company in the world.
8. Kirsten and Jorn Rausing
(Image: Getty)
Worth: £8.7 billion
Ages: 63 and 56, respectively
Leading shareholders of Tetra Laval, the Swedish brother and sister are niece and nephew to Hans Rausing and inherited their stake from their father, Gad Rausing. Jorn also has a £185 million stake in Ocado and Kirsten owns three UK stud farms.
7. Charlene de Carvalho-Heineken and Michel de Carvalho
(Image: Fotograaf)
Worth: £8.7 billion
Ages: 61 and 71, respectively
Charlene inherited Dutch brewer Heineken, worth £36.7 billion, following her father death in 2002. Her family’s stake in the firm is currently worth around £8.43 billion.
6. The Duke of Westminster
(Image: Getty)
Worth: £9.35 billion
Age: 64
The Sixth Duke of Westminster, Gerald Cavendish Grosvenor, owes his wealth to inherited land that dates back to 1677. The Grosvenor family estate has 300 acres across west London, including land in Belgravia and Mayfair.
5. Ernesto and Kirsty Bertarelli
(Image: Getty)
Worth: £9.7 billion
Ages: 50 and 44, respectively
Switzerland’s richest man following the sale of his family’s pharmaceutical company Serono, which was Europe’s biggest biotech firm at the time, in 2006. His wealth, in combination with his singer and model wife Kirsty’s, makes her the richest woman in Britain. Ernesto gifted Kirsty Vava II, the largest ever yacht built in the UK, for her 40th birthday.
4. Galen and George Weston
(Image: Getty)
Worth: £11 billion
Ages: 75 and 52, respectively
Their fortune comes from the George Weston operation in Canada. The group owns a number of sizeable food stores including supermarket chain Weston Foods, and the British channel of the Weston empire Associated British Foods. Galen’s nephew George currently runs the business.
3. Len Blavatnik
(Image: Getty)
Worth: £11.6 billion
Age: 58
Becoming a billionaire following the fall of the Soviet Union, his wealth derives from the control of BP partner, oil producer TNK, which was acquired in 2013. He also has interests in UC Rusal, the world’s largest aluminium producer. In 2011, he purchased Warner Music and then Parlophone, famous for being The Beatles’ record label.
2. Sri and Gopi Hinduja
(Image: Getty)
Worth: £13 billion
Ages: 80 and 76, respectively
The brothers made their money in property development and car manufacturing, but also mange one of the largest diversified conglomerates in the world. Gopi’s son Sanjay Hinduja recently got married in an affair that cost £15 million.
1. David and Simon Reuben
(Image: The Reuben Foundation)
Worth: £13.1 billion
Ages: 77 and 74, respectively
Also brothers, the Reubens have claimed top spot thanks to a string of lucrative property deals, following successful investments in the Russian metals market. They reportedly hold a significant proportion of their fortunes in liquid assets.
(Main image: Virgin)
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