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Friday, June 21, 2024

Rishi Sunak Tops UK’s Wealth List, Surpasses King Charles

In terms of personal fortune, UK Prime Minister Rishi Sunak has surpassed King Charles, according to the most recent Sunday Times Rich List. Over the previous year, Sunak and his spouse, Akshata Murty, have experienced a rise in wealth of over £120 million ($152 million), increasing their total fortune to £651 million ($827 million).

King Charles’ fortune, on the other hand, rose from £600 million ($762 million) to £610 million ($775).

The list’s accompanying article said that the number of billionaires in the UK has decreased from 177 in 2022 to 165 in 2024, indicating that the country’s “billionaire boom has come to an end.” The 350 people and families on the list have a collective worth of £795.361 billion, which is more than Poland’s GDP in a year.

Topping the list is British-Indian businessman Gopi Hinduja and his family with a record-breaking fortune of £37.2 billion ($47.2 billion). Other notable figures include steel magnate Lakshmi N. Mittal at No. 8 and industrialist Anil Agarwal of Vedanta Resources at No. 23 with an estimated £7 billion.

Prominent Indian-origin billionaires on the list include:
– Prakash Lohia (No. 30) with £6.23 billion
– Mohsin and Zuber Issa (No. 39) with £5 billion
– Navin and Varsha Engineer (No. 58) with £3 billion
– Simon, Bobby, and Robin Arora (No. 65) with £2.682 billion
– Lord Swraj Paul and family (No. 67) with £2.6 billion

The Rich List also features UK musicians and celebrities, with Paul McCartney becoming the first UK musician to achieve billionaire status.

Robert Watts, the compiler of the Sunday Times Rich List, commented on the apparent end of the billionaire boom in the UK: “Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super-rich who came here are moving away. Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire status, and what that means for our economy.”

Top 10 on the 2024 Sunday Times Rich List:
1. Gopi Hinduja – £37.2 billion
2. Sir Leonard Blavatnik – £29.2 billion
3. David and Simon Reuben and family – £24.9 billion
4. Jim Ratcliffe – £23.5 billion
5. James Dyson and family – £20.8 billion
6. Barnaby and Merlin Swire and family – £17.2 billion
7. Idan Ofer – £14.9 billion
8. Lakshmi Mittal and family – £14.9 billion
9. Guy, George, Alannah and Galen Weston and family – £14.4 billion
10. John Fredriksen and family – £12.8 billion

The minimum entry threshold for this year’s list was £350 million, illustrating the significant wealth concentration among the UK’s richest individuals and families.

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Source: Firstpost

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