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Britain has become the super-rich capital of the world

by International Commercial Investment on May 12, 2014

Source: Dailymail

Britain has become the super-rich capital of the world – with more than 100 billionaires living in the UK for the first time.

A total of 104 billionaires now call Britain home, with a combined wealth of £301billion between them, it was revealed yesterday.

It means the UK has more billionaires per head than any other country. 

And the vast majority have their homes in London, meaning the capital boasts the greatest number of billionaires of any city in the world, beating New York and Moscow to the top spot.

London has become such a hub for the super-rich that it now accounts for 72 billionaires – almost 10 per cent of all the billionaires in the world.

Moscow has the second highest billionaire population with 48, followed by New York with 43, then San Francisco, Los Angeles and Hong Kong.

But only a third of Britain’s billionaires were actually born British, according to the Sunday Times Rich List.

Indian-born brothers Srichand and Gopichand Hinduja top the UK rich list, with a combined wealth of £11.9billion from their global conglomerate.

They are followed by international tycoons and oligarchs who made their fortunes in aluminium, oil and coal, including Chelsea owner Roman Abramovich.

Arsenal shareholder Alisher Usmanov and Queens Park Rangers stakeholder and steel magnate Lakshmi Mittal also feature.

The only British-born billionaire in the top ten is the Duke of Westminster, who owns swathes of central London and takes tenth place in the list with his £8.5billion fortune.

Britain’s reputation as a financial capital and its relatively low tax regime have been credited for attracting ‘non-dom’ residents, keen to invest in property in London and the South East.

The country now has one billionaire for every 607,692 residents, compared to one for every 1,022,475 in the US, which has the second highest number of billionaires per capita.

Unlike America, Britain does not tax its non-domicile residents on their global wealth, meaning they pay tax only on their UK income.

Francois-Henri Pinault, head of the Gucci fashion empire, is moving to London from France with his actress wife Salma Hayek after the French government introduced a 75 per cent tax rate for the most wealthy, though the couple say this is not the reason for their move.

The number of billionaires in Britain has more than tripled in a decade and their total wealth has now overtaken pre-recession levels of 2008, when the UK’s 75 billionaires were worth £201billion.

Among new British-born members of the billionaire club is West End producer Sir Cameron Mackintosh, who saw his fortune rise to £1billion in the past year.


Here is the Sunday Times 2014 Billionaire List:

Rank, name, wealth, increase/decrease in wealth

1. Sri and Gopi Hinduja, £11.9 billion, up £1.3 billion

2. Alisher Usmanov, £10.65 billion, down £2.65 billion

3. Lakshmi Mittal and family, £10.25 billion, up £250 million

4. Len Blavatnik, £10 billion, down £1 billion

5. Ernesto and Kirsty Bertarelli, £9.75 billion, up £2.35 billion

6. John Fredriksen and family, £9.25 billion, up £450 million

7. David and Simon Reuben, £9 billion, up £719 million

8. Kirsten and Jorn Rausing, £8.8 billion, up £3.691 billion

9. Roman Abramovich, £8.52 billion, down £780 million

10. The Duke of Westminster, £8.5 billion, up £700 million

11. Galen, Hilary and George Weston and family, £7.3 billion, up £650 million

12. Charlene de Carvalho-Heineken and Michel de Carvalho, £6.365 billion, down £635 million

13. Mohamed Bin Issa Al Jaber and family, £6.16 billion, up £1.645 billion

14. Carrie and Francois Perrodo and family, £6.14 billion, new

15. German Khan, £6.08 billion, new

16. Sir David and Sir Frederick Barclay, £6 biilion, up £3.65 billion

17. Hans Rausing and family £5.9 billion, up £1.18 billion

18. Nicky Oppenheimer and family, £4.57 billion, up £785 million

19. Earl Cadogan and family, £4.2 billion, up £525 million

20. Joseph Lau and family, £4.03 billion, down £570 million

21. Sir Philip and Lady Green, £3.88 billion, no change

22. Denis O’Brien, £3.854 billion, up £486 million

23. Mike Ashley, £3.75 billion, up £1.45 billion

24. Sir Richard Branson and family, £3.6 billion, up £86 million

25. Idan Ofer, £3.43 billion, new

International Commercial InvestmentBritain has become the super-rich capital of the world

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