How Many Billionaires Are in the UK Right Now?

Every year, The Sunday Times Rich List updates the public on the wealthiest people in the UK. This year was no different. However, there were some changes in the numbers and people on the list compared to the past year.

So, if you wonder how many billionaires are in the UK and who made history this year, this article is for you.

How Many Billionaires in the UK in 2024?

According to the Sunday Times, there are 165 billionaires in the UK right now. The overall number of UK billionaires has dropped compared to previous years. The 2016 rich list recorded the highest number — 177.

One of the huge milestones this year reached Sir Paul McCartney becoming the first billionaire musician in the UK. Sir Paul McCartney and Nancy McCatney are in 165th place on the Sunday Times list, with over £50 million earned the previous year.

According to Forbes, the UK is currently in 10th place among the world’s billionaires. The combined wealth of all 350 people and families on the Rich list is £965bn. It is one of the sums that is hard to comprehend, but it is bigger than the GDP of a dozen countries worldwide.

Top Ten of the Super Rich People on the List

Who are these wealthy people on top of the list? Let’s go over the first ten to learn more about their ventures. After all, even in the list of 165, only the best of the best get the spotlight.

1. Gopi Hinduja and family (£37.196bn) took first place for the third year in a row. Not only do they have the most considerable fortune in the country, but they’ve also made £2.196bn in a year. The net worth reached peak billionaire wealth recorded by the Sunday Times. Hinduja Group remains the leader in the Finance industry.
2. Sir Leonid Blavatnik, with £29.246 billion, is second. His fortune increased by £621m, bringing him from third place in the previous year to second. His net worth comes mainly from Access Industries (investment, music, and media).
3. David and Simon Reuben (with their family) are next. They’ve made £578m this year, which increased their net worth to £24.977bn.
4. Sir Jim Ratcliffe is in fourth place, downgrading from second in 2023. This year, Sir Jim Ratcliffe lost vast sums of money, namely £6.169bn. Yet, he is still in the top five with a lucrative value of £23.519bn.
5. The fifth place is Sir James Dyson and their family with £20.8bn. They’ve experienced the fortunes fall by £2.2bn this year.
6. Iden Ofer had a great year, which resulted in sixth place with £14.96bn. This is a massive change from the twenty-second place. Since then, Iden Ofer has made £6.96bn in the shipping industry.
7. Lakshmi Mittal and the family fell by one place and are now seventh with £14.921 bn.
8. The next in line are Guy, George, Alannah, and Galen Weston Jr. and family, with £14.493bn. Although they’ve lost £7m, Primark still holds a strong position in the UK economy.
9. John Fredriksen and the family jumped from the nineteenth to ninth place in a year with £12.867 in fortune. Shipping and oil services brought them £4.556bn in 2024.
10. Kirsten and John Rausing completed the top ten spots with £12.634bn. Although they’ve earned £634m, they’ve moved down one place from the previous year.

Other Changes in the Global Super Rich List

In addition to the first UK musician becoming a billionaire, there were other interesting changes in the world of the super-wealthy. Sunday Times coverage of unearth entrepreneurs building fortunes gives valuable insights into the most lucrative industries.

Here are the best spheres to create wealth in the UK:

1. Banking industry;
2. Investment;
3. Construction;
4. Law;
5. Management consultancy;
6. Computer consultancy;
7. Security;
8. Natural resources;
9. Technology.

Another fascinating insight is that financial success or losses are not always represented directly in the list. For instance, Michael Platt remains the wealthiest investor in the country. He earned over £500m but still lost tenth place and finished thirteen.

It was not a successful year for Richard Branson, whose fortune is £2.4bn at the moment. Indeed, it is a tremendous amount of money, but it is currently at the same level it was for him in 2001. Virgin Money did not do well in 2023 and is not expected to do much better the following year.

If you wondered who among UK billionaires climbed the highest in 2024, it is Alan Howard (Brewan Howard). He jumped over thirty spots in one year, an incredible result. Although he is in seventh place, he increased his wealth from £750 to £2.5bn.

Another success story is Euan Blair, Tony Blair’s eldest son, who made £1.4bn fortune with his Multiverse tech firm.

What to Expect with the Rich List

It is impossible to predict who will be at the top of the list next year or who will make more money. However, it is safe to say that the top billionaires will remain among the wealthiest people in the UK and the world.

Some reports hint that many millionaires are leaving the UK. However, it might not significantly change the Sunday Times list even if this happens.

This list inspires some to strive for more and open new opportunities. For others, it might uncover lucrative niches that need to be conquered. It is definitely interesting to see where Artificial intelligence will bring the Tech bubble and other surprising ways entrepreneurs will make fortunes.

Sources

1. The Times
2. Wikipedia
3. IBISWorld
4. CNN Business