The billionaire Hinduja family has topped the Sunday Times Rich List for the second year in a row as its fortune jumped by more than £6 billion.
Gopi Hinduja and his family, which is behind the Indian conglomerate Hinduja Group, have been named as Britain’s richest just days after Mr Hinduja’s brother Sri died.
For the first time in 14 years, the number of billionaires on the list fell, by six to 171.
But those who stayed in the billionaires’ club still saw their wealth grow by close to £31 billion.
These are the 20 richest people and families in the UK, according to the Rich List:
1. Gopi Hinduja and family – £35 billion
Britain’s richest family made its fortune from the Mumbai-based conglomerate Hinduja Group, which spans business sectors including banking and finance, media and entertainment, and energy and has about 200,000 staff around the world.
Patriarch of the family and Hinduja’s chairman, Srichand Hinduja, died on Wednesday aged 87. He was described by a spokesperson as a “visionary titan of industry and business”.
2. Sir Jim Ratcliffe – £29.7 billion
Sir Jim, who is the highest climber on this year’s list, is the founder and chairman of global chemicals company Ineos, which was formed in 1998.
The Manchester-born businessman is currently battling Sheikh Jassim, the son of a former Qatari prime minister, to take over Manchester United.
3. Sir Leonard Blavatnik – £28.6 billion
The third-richest Briton is a Ukrainian-born business magnate and philanthropist who built up his fortune in Russia.
His money mainly comes from media and music investments – including buying Warner Music in 2011 before taking it public in 2020 – and his investment firm Access Industries.
4. David and Simon Reuben and family – £24.4 billion
The billionaire brothers made their money through property and technology with their private equity and investment business Reuben Brothers. They also own 16 racecourses and five greyhound stadia in the UK through the Arena Racing Company.
5. Sir James Dyson and family – £23 billion
English inventor and entrepreneur James Dyson is well known for founding technology firm Dyson and inventing the cyclone bagless vacuum cleaner in the 1970s.
6. Lakshmi Mittal and family – £16 billion
Indian-born Mr Mittal is the chairman of ArcelorMittal, a multinational steel company headquartered in Luxembourg and the largest steel manufacturer in Europe, North and South America.
He owns mansions on Kensington Palace Gardens, one of the most expensive streets in the world.
7. Guy, George, Alannah and Galen Weston and family – £14.5 billion
The Weston family has developed most of its wealth through investing in retail. It has a stake in Associated British Foods, which owns Primark and produces sugar, run by son George Weston.
8. Charlene de Carvalho-Heineken and Michel de Carvalho – £13.1 billion
Charlene de Carvalho-Heineken is a Dutch businesswoman and one of the richest women in the world after inheriting nearly a quarter stake in beer giant Heineken from her late father Freddy Heineken.
Her husband and former Olympic skier Michel de Carvalho sits on the board of the business.
9. Kirsten and Jorn Rausing – £12 billion
Kirsten Rausing also benefited from inheritance, with a stake in her grandfather’s packaging business Tetra Laval, which revolutionised storing drinks like milk and orange juice in cartons over glass bottles.
The Swedish businesswoman is heavily involved in horse racing and her husband Jorn Rausing co-owns Tetra Laval.
10. Michael Platt – £11.5 billion
Preston-born financier Michael Platt is the co-founder and chief executive of hedge fund BlueCrestCapital Management, one of the world’s largest and top performing investment firms.
11. The Duke of Westminster and the Grosvenor family – £9.9 billion
The 32-year-old Hugh Grosvenor is the seventh Duke of Westminster and became an instant billionaire when he inherited his title and control of the historic Grosvenor Estate from his father in 2016.
He was crowned the richest person under 35 in this year’s Sunday Times Rich List.
12. Marit, Lisbet, Sigrid and Hans Rausing – £9.3 billion
The Rausing family has made the Sunday Times Rich List twice, with Marit Ruasing the widow of Hans Ruasing, who built up the Tetra Pak packaging business founded by his father in 1944. Lisben and Sigrid are their children.
13. Andy Currie – £9.2 billion
Cambridge-educated Mr Currie built his wealth through his minority stake in fellow billionaire Sir Jim Ratcliffe’s chemicals giant Ineos, having been a director of the firm since 1999.
14. John Reece – £9.1 billion
The third and final Ineos affiliate, John Reece, has been the finance director of Sir Jim Ratcliffe’s business since 2000 and also derived his fortune from his minority stake in the firm.
15. Alex Gerko – £9.1 billion
Moscow-born mathematician Alex Gerko founded algorithmic trading company XTX Markets in 2015, which grew rapidly in the UK and has offices globally, including in New York City, Paris and Mumbai.
Mr Gerko was found to be the UK’s biggest tax contributor in 2023.
16. Denise, John and Peter Coates and family – £8.8 billion
Denise Coates is the co-founder, majority shareholder and co-chief executive of Bet365, one of the world’s largest online gambling companies, having been born into a family running betting shops in Stoke-on-Trent.
Peter Coates is her father and John Coates is her brother and joint-chief executive.
17. Anders Holch Povlsen – £8.5 billion
The Danish fashion mogul has built his fortune largely through ownership of retailer Bestseller, which owns brands Jack&Jones and Vero Moda, and his significant stake in online fashion company Asos.
He is the richest person in Scotland, owning 220,000 acres of land in the country.
18. Barnaby and Merlin Swire and family – £8.4 billion
The Swire family’s fortune stems from Swire Group, a global business spanning property, transport and industrials.
Eton-educated chairman Barnaby Swire is the cousin of Merlin Swire, both sixth-generation descendants of the group’s founder.
19. John Fredriksen and family – £8.3 billion
John Fredriksen is a Norway-born shipping magnate who owns oil tankers and investments in fish farming, dry bulkers and deepwater drilling rigs.
20. Mikhail Fridman – £8.2 billion
Mikhail Fridman was born in Ukraine and made his fortune in Russia across banking, retail, oil and telecoms, through companies Alfa Group and Letter One, before moving to London in 2015.
He was hit by sanctions from the Government last year over his ties to the Kremlin following Russia’s invasion of Ukraine, meaning he had his UK assets frozen and was banned from travelling to or from the UK.
Further information on the Sunday Times Rich List can be accessed via the following link: https://www.thetimes.co.uk/sunday-times-rich-list
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