High Net Worth Individuals UK: A High Net Worth Individual (HNWI) refers to an individual who, as defined by the UK’s Financial Conduct Authority (FCA), earns an annual income exceeding £300,000 or possesses net assets surpassing £3,000,000.
High Net Worth Individuals UK: A List
So who are the highest net-worth individuals in the UK? Outlined below are the 20 richest individuals and families in the UK, as per the Rich List:
1. Gopi Hinduja and family – £35 billion – The Hinduja family (pictured above) amassed their wealth through the Hinduja Group, headquartered in Mumbai, which operates across various industries such as banking and finance, media and entertainment, and energy. The conglomerate boasts a global workforce of around 200,000 employees.
2. Sir Jim Ratcliffe – £29.7 billion – Sir Jim Ratcliffe, the highest climber on this year’s list, is the founder and chairman of Ineos, a global chemicals company established in 1998. The Manchester-born businessman is currently engaged in a battle with Sheikh Jassim, the son of a former Qatari prime minister, for the acquisition of Manchester United.
3. Sir Leonard Blavatnik – £28.6 billion – Sir Leonard Blavatnik, a Ukrainian-born business magnate and philanthropist, accumulated his wealth primarily through investments in media and music, including the acquisition of Warner Music in 2011, followed by its public listing in 2020. His investment firm, Access Industries, further contributes to his financial success.
4. David and Simon Reuben and family – £24.4 billion – The Reuben brothers, billionaires in their own right, generated their wealth through ventures in property and technology. Their private equity and investment business, Reuben Brothers, has been instrumental in their success. Additionally, they own a portfolio of 16 racecourses and five greyhound stadiums in the UK through the Arena Racing Company.
5. Sir James Dyson and family – £23 billion – Renowned English inventor and entrepreneur Sir James Dyson gained fame as the founder of Dyson, a technology company, and for his invention of the cyclone bagless vacuum cleaner in the 1970s.
6. Lakshmi Mittal and family – £16 billion – Lakshmi Mittal, originally from India, serves as the chairman of ArcelorMittal, the largest steel manufacturer in Europe, North America, and South America. His opulent residences on Kensington Palace Gardens, one of the world’s most expensive streets, are noteworthy.
7. Guy, George, Alannah, and Galen Weston and family – £14.5 billion – The Weston family’s wealth primarily stems from their investments in the retail sector. They hold a stake in Associated British Foods, the owner of Primark and a prominent sugar producer, with George Weston leading its operations.
8. Charlene de Carvalho-Heineken and Michel de Carvalho – £13.1 billion – Charlene de Carvalho-Heineken, a Dutch businesswoman, ranks among the world’s wealthiest women after inheriting a significant stake in the beer giant Heineken from her late father, Freddy Heineken. Her husband, Michel de Carvalho, a former Olympic skier, serves on the company’s board.
9. Kirsten and Jorn Rausing – £12 billion – Kirsten Rausing, who benefited from an inheritance, holds a stake in Tetra Laval, her grandfather’s packaging business. Tetra Laval revolutionized the storage of beverages like milk and orange juice by introducing cartons as an alternative to glass bottles. Kirsten’s husband, Jorn Rausing, is also involved in Tetra Laval as a co-owner.
10. Michael Platt – £11.5 billion – Michael Platt, a financier hailing from Preston, is recognized as the co-founder and CEO of BlueCrest Capital Management, a prominent hedge fund. With its impressive performance and status as one of the world’s largest investment firms, BlueCrest has solidified Platt’s position among the wealthiest individuals.
11. The Duke of Westminster and the Grosvenor family – £9.9 billion – At the age of 32, Hugh Grosvenor is the seventh Duke of Westminster, inheriting his title and control over the historic Grosvenor Estate from his father in 2016. This sudden transfer of wealth catapulted him into the billionaire ranks, making him the richest individual under 35 on this year’s Sunday Times Rich List.
12. Marit, Lisbet, Sigrid, and Hans Rausing – £9.3 billion – The Rausing family, featured twice on the Sunday Times Rich List, includes Marit Rausing, the widow of Hans Rausing, who expanded the Tetra Pak packaging business established by his father in 1944. Lisbet and Sigrid are their children, representing the family’s continued wealth and influence.
13. Andy Currie – £9.2 billion – Andy Currie, a Cambridge-educated financier, accumulated his wealth through a minority stake in the chemicals giant Ineos, founded by fellow billionaire Sir Jim Ratcliffe. Currie has been a director of the company since 1999, contributing to his impressive fortune.
14. John Reece – £9.1 billion – John Reece, the finance director of Sir Jim Ratcliffe’s Ineos since 2000, also shares in the company’s success through his minority stake. Reece’s involvement in the business has significantly contributed to his substantial wealth.
15. Alex Gerko – £9.1 billion – Alex Gerko, a mathematician originally from Moscow, established XTX Markets, an algorithmic trading company, in 2015. The company swiftly expanded in the UK and now maintains global offices in cities such as New York City, Paris, and Mumbai. Gerko was identified as the UK’s most significant tax contributor in 2023.
16. Denise, John, and Peter Coates and family – £8.8 billion – Denise Coates, born into a family running betting shops in Stoke-on-Trent, co-founded Bet365, one of the world’s largest online gambling companies. She serves as the majority shareholder and co-chief executive. Peter Coates, her father, and John Coates, her brother, join her as joint chief executives.
17. Anders Holch Povlsen – £8.5 billion – Anders Holch Povlsen, a Danish fashion mogul, amassed his wealth primarily through his ownership of retailer Bestseller, which encompasses popular brands like Jack&Jones and Vero Moda. Povlsen also holds a significant stake in the online fashion company Asos. He is recognized as the richest individual in Scotland and owns extensive land spanning 220,000 acres in the country.
18. Barnaby and Merlin Swire and family – £8.4 billion – The Swire family’s fortune derives from the Swire Group, a global business involved in various sectors such as property, transport, and industrials. Barnaby Swire, an Eton-educated chairman, and Merlin Swire, both sixth-generation descendants of the group’s founder, contribute to the family’s wealth and legacy.
19. John Fredriksen and family – £8.3 billion – John Fredriksen, a Norwegian shipping magnate, possesses a fleet of oil tankers and investments in fish farming, dry bulkers, and deepwater drilling rigs. His ventures have propelled him to great financial success.
20. Mikhail Fridman – £8.2 billion – Mikhail Fridman, originally from Ukraine, achieved his wealth in Russia through his involvement in various sectors, including banking, retail, oil, and telecoms. He established companies such as Alfa Group and Letter One, which played significant roles in his financial success. In 2015, Fridman relocated to London. However, he faced sanctions from the UK government due to his connections to the Kremlin following Russia’s invasion of Ukraine. These sanctions resulted in the freezing of his UK assets and a travel ban.
As of 2023, the number of billionaires in the UK has decreased for the first time in 14 years, with a reduction of six individuals, leaving a total of 171 billionaires. However, those who remained in the billionaires’ club witnessed substantial growth in their fortunes, accumulating a collective increase of nearly £31 billion.
The Sunday Times Rich List serves as a comprehensive source of information on the wealthiest individuals and families in the UK. For further details and rankings, visit the Sunday Times Rich List.
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