Sunday, 27 May, 2018

United Kingdom has new richest person: Ineos chairman and CEO Jim Ratcliffe

WEALTH Sir Elton John is worth £300m while Andrew Lloyd Webber £740m GETTY WEALTH Sir Elton John is worth £300m while Andrew Lloyd Webber £740m
Kristopher Love | 15 May, 2018, 18:46

Their young and rich. Unsplash / Nik MacMillan LONDON - The Sunday Times' "Rich List," the British paper's annual ranking of the 1,000 richest individuals in the country, will be released Sunday.

The Hinduja brothers, Sri and Gopi, who are worth £20.64 billion came in second place. Their fortune jumped by £4.44 billion, with their India-based auto manufacturer Ashok Leyland and the Mumbai-based IndusInd Bank having a particularly successful year.

Despite his growth in wealth, Ed only comes in 35th in the main musicians list, which is topped by Sir Paul McCartney and his wife Nancy Shevell with £820 million, and Andrew Lloyd-Webber, with £740 million, both worth more than a billion dollars.

In January the chain announced 12 of its 37 branches were to close.

The Sunday Times has previously described him as publicity shy. The couple are now 11th on the list.

Four-time Major victor McIlroy is reported to have a wealth of £110 million (€124.7m) - a figure which puts him £27m (€30.6m) clear of Andy Murray in second place.

Aristocrat Hugh Grosvenor is still the UK's youngest billionaire at the age of 27 having inherited his fortune and his title - 7th duke of Westminster - following the death of his father two years ago.

Robert Watts, the compiler of the "Rich List" said, "If you're good enough, you're old enough".

"That's the big difference we've seen over the 30 editions of The Sunday Times Rich List - wealth creation is now a story of self-made men and women".

"Today's super rich include people who have set up businesses selling chocolate, sushi, pet food and eggs".

Robert Watts, the compiler of The Sunday Times Rich List, said: "Our North-West Rich List is again led by the Duke of Westminster, but wealth creation in the United Kingdom is increasingly a story of self-made - rather than inherited - wealth".

The List says profits soared by more than 50 per cent in 2016 at Malcolm Healey's West Retail Group, based at Hotham in East Yorkshire, which includes Wren Kitchens and the electronics retailer Ebuyer.