Sunday Times Rich List suggests UK's wealthiest defy recession

 
Lakshmi Mittal Mr Mittal retains top spot despite his company's share price crashing this year

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The UK's richest people have defied the double-dip recession to become even richer over the past year, according to the annual Sunday Times Rich List.

The newspaper's research found the combined worth of the country's 1,000 wealthiest people is £414bn, up 4.7%.

It means their joint wealth has passed the level last seen in 2008, before the financial crash, to set a new record.

Top spot for the eighth straight year is held by Indian steel magnate Lakshmi Mittal, 61, with £12.7bn.

There are now 77 billionaires on the list, with individuals needing to have at least £72m to make the top 1,000.

The richest billionaire of all, Mr Mittal, retains his position despite seeing 27% of his family fortune wiped out in the last 12 months because of a drop in the share price of their steel producing business.

The Mittal family have held the number one spot in the list since 2005.

Britain's richest top 10

  • Lakshmi Mittal and family - £12.7bn.
  • Alisher Usmanov - £12.3bn.
  • Roman Abramovich - £9.5bn.
  • Sri and Gopi Hinduja - £8.6bn.
  • Leonard Blavatnik - £7.58bn.
  • Ernesto and Kirsty Bertarelli - £7.4bn.
  • The Duke of Westminster - £7.35bn.
  • David and Simon Reuben - £7.08bn.
  • John Fredriksen and family - £6.6bn.
  • Galen and George Weston and family - £5.9bn.

Another person who has made money from the metal industry, Arsenal shareholder Alisher Usmanov, is second with £12.3bn, while Chelsea owner and oil baron Roman Abramovich is third with £9.5bn, despite being £800m down on last year.

The richest woman is former Miss UK Kirsty Bertarelli, who shares a £7.4bn fortune with her husband Ernesto, while the Duke of Westminster's property portfolio makes him worth £7.3bn.

Several leading British entrepreneurs, who are further down the list, have seen their wealth increase this year.

Diamond retailer Laurence Graff's wealth has risen to £3,300m while Sir Anthony Bamford, owner of the JCB earth-moving machinery firm, has seen his fortune go up to £3,150m.

Sir Paul McCartney (right) and new wife Nancy Shevell Sir Paul McCartney's wedding to heiress Nancy Shevell boosts his position in the list

Inventor Sir James Dyson, who created the bagless vacuum cleaner, has also seen his wealth increase, to £2,650m.

Some of Britain's best-known performers and artists have also seen their fortunes improve.

Sir Paul McCartney's recent marriage to his third wife Nancy Shevell, who is the daughter of an American trucking magnate, sees him become the third wealthiest man in British music, as their combined wealth is now rated at £665m.

The two people surpassing him are music executive Clive Calder, who is worth £1,350m, and theatre owner and producer Sir Cameron Mackintosh, whose fortune has gone up to £725m.

Harry Potter creator JK Rowling's worth has risen by £30m in the last year to £560m, putting her 148th on the list, and a new addition to the list is London-based founder of the Spotify music website Daniel Ek, ranked 395th with a fortune of £190m - the same amount as David and Victoria Beckham.

 

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  • rate this
    +3

    Comment number 423.

    The rich will always get richer because of interest gained on capital. Low interest rates and low growth are good things. Now lets deal with the redistribution that's required and society will be all the better for it. Let's dump the "game theory" view of mankind as selfish and greedy and let us be what we want to be; caring and nurturing.

  • rate this
    -8

    Comment number 422.

    I knew the labour loving bbc journalist would open this up to comments.

    The fact is, you need money to make investments and the more you have the more you can make.

    There is no design, just the advance of technology in modern capitalism giving it a helping hand.

  • rate this
    0

    Comment number 421.

    16.
    Atlantic
    2 Minutes ago

    Fancy that. I would of never thought it!!!


    ** HAVE thought, not OF!

  • rate this
    0

    Comment number 420.

    Marx predicted that capitalism would ultimately destroy itself - the bankers haven't changed their behaviour one bit since the last crash and the next one is inevitably because it is driven by greed and we see that our so called leaders have turned this into some sort of religion.When all rich can think about is mining asteroids instead of saving the earth's fragile environment we are doomed.

  • rate this
    -1

    Comment number 419.

    398 Ghandi
    "Like why are the planning and design regulations more strict in nicer areas ?"

    Of course their stricter!! Nobody cares what happens to some God forsesaken council estate - it's already ruined!

    This is a typical left whine- try to bring everything down to the lowest common denominator. That's why socialism destroys society! Capitalism builds society by enriching it. Look at the US

  • rate this
    +1

    Comment number 418.

    The idea of taking money from the rich to give to the poor is myth.The principal should be to encourage the rich to create more wealth .The rich usually have accountants to avoiid tax .Encourage phylanthropism the old ones did great work .They make better use of their money than government.Too much money sticks to fingers between rich and the less well off who need jobs

  • rate this
    0

    Comment number 417.

    399.r3loaded
    Many (though not all) of these people made their wealth through hard work, ingenuity and by taking risks. Want to join them? Study hard, work hard and strive to reach the top


    =>You don't even need that. Just acumen. A friend bought a property on a mortgage c20yrs ago; rented it out while he lived in a bedsit, soon after bought another property etc.Now he has about 30 properties.

  • rate this
    0

    Comment number 416.

    Fancy that. I would of never thought it!!!

  • rate this
    -2

    Comment number 415.

    ......... maybe this is because we have a Tory government? What idiots voted these in?

  • rate this
    0

    Comment number 414.

    SO! Here we are! Recession like sherbet. The rich are getting richer and the poor are getting poorer, so much for trickle down theory and the private sector. Who thinks Marx was wrong now? The ONLY way is socialism, the sooner people realise this the better, as capitalism is only going to make things worse. Dispense with your notions of workable capitalism, as this is it in action.

  • rate this
    +3

    Comment number 413.

    390.koolkarmauk
    ..Africa is extremely asset rich via natural resources. The poverty is a direct consequence of Western Capitalism exploiting Africa for Western gain! aka the cheap food and electrical appliances we all buy!
    ---

    ?? China is far & away the most active participant in Africa & is hoovering up resources left right & centre.

  • rate this
    +1

    Comment number 412.

    @393
    You seem to be mixing up wealthy businessmen, who, with the exception of such as RA and one or two others, try to avoid the limelight and well paid celebrities and sports people for whom "fame" is everything.

  • rate this
    0

    Comment number 411.

    Nearly 8 million people have viewed this video and the vast majority of them know that the world is broken [[http://www.youtube.com/watch?v=WibmcsEGLKo]].

    Your government do not work for you, money as debt and money masters on youtube will show you the evidence.

    The money you borrowed for a mortgage, the banks never had it!! they just created a debt for you to pay.

    You are living in the endgame

  • rate this
    +4

    Comment number 410.

    397.TheBladesman

    I don't need to report to "cheap points" to state facts, I contradicted your argument with facts and you can't counter it and so have to resort to inane child like insults. Typical Tory.

    As for "real poverty" .. poverty would not exist were it not for Captalism.

  • Comment number 409.

    All this user's posts have been removed.Why?

  • rate this
    +3

    Comment number 408.

    Country in recession, money and wealth just disappearing from everyday life, yet the rich are getting richer. I do wonder where the disappearing money has gone?

    Although to be fair, you can't really blame the rich. It's human nature to be self-serving, you have to ask why they're allowed to do it. A succession of rich-orientated governments might be a clue... and it's not just the Tories anymore.

  • rate this
    -4

    Comment number 407.

    It is very much the natural order that those with the most will inherit more from their wealth whilst those without will grumble about the poverty they inherit. Poverty is best broken with hard work, and I mean backbreaking hard work, so that idleness is not seen as a option for those without.

  • rate this
    +1

    Comment number 406.

    292 Bunnyforpeace

    And all the others blaming the Tories for the rich. Do you really believe these people have only just got rich in the last two years? They didn't gain any of their richness while Labour were in power? I think you'll find they got where they are when your dear can't do no wrong Labour party were in power. You only see what you wan to see, and not reality.

  • rate this
    +3

    Comment number 405.

    got no problem with the rich being rich.
    but seriously, how much do you need? .
    if just a few stopped hoarding and started a couple of car companies(there are no british rivals to the audi bmw merc ,except ford/vauxhall who are american) or something then there would be some jobs for us.... a british fast food chain (call it "greasies"), anything.

  • rate this
    +1

    Comment number 404.

    There are a few naiive people on this already.144 and 12 particularly. You get the government you deserve you dupes!

 

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