Britain's wealthiest get richer by £64 billion in a year

Frederick Owens
May 13, 2018

Another significant development is that, just like Jim Ratcliffe, the majority of entrants are self-made and not relying on family money - only 43% of the richest people in Britain had done so in 1989.

Fracking and chemicals billionaire Jim Ratcliffe increased his wealth by more than £15bn a year ago to take the crown as Britain's richest person, with a £21bn fortune.

His increased wealth is down to the successes of Ineos, the London-headquartered chemicals company which is now locked in a legal battle with the Scottish government over its moratorium on fracking. Famous golfer Rory Mcllroy leads the list as he was ranked at No. 1 on the The Sunday Times Rich List: Richest Young Sports Stars.

Ratcliffe is joined in the top 20 by his top lieutenants at Ineos John Reece and Andy Currie, who have enjoyed fabulous wealth from their stakes in the firm. His wealth grew by £444 million in the previous year to £9.96 billion. They fall from sixth to 11th, and Kirsty slips from the richest woman on the list to the third richest, having been leapfrogged by Heineken heiress Charlene de Carvalho-Heineken and packaging heiress Kirsten Rausing.

Queen Elizabeth II topped the first five Rich Lists, but a decision was taken to exclude the value of the Royal Art Collection.

Jamie Oliver left the list completely as his restaurant business is still undergoing restructuring after slipping into more than £70m in debt.

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At its inception in 1989, the Rich List contained only 200 entries, and a £30 million fortune would be enough to get you in.

Robert Watts, who compiled the list, said: 'Britain is changing.

'Aristocrats and inherited wealth has been elbowed out of the list and replaced by an army of self-made entrepreneurs.

The Hinduja brothers, Sri and Gopi, who are worth £20.64 billion came in second place.

We're seeing more people from humble backgrounds, who struggled at school or who didn't even start their businesses until well into middle age.

'Britain's rich are getting richer, but the cast of Britain's 1,000 richest people is an ever-changing and increasingly diverse cast of people'. Property developers have now surpassed them as the largest single category, making up 16.4% of the list.

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