Rich List 2023: Wealthiest people in the UK, according to Sunday Times

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The number of UK billionaires has fallen from 2022 - but their combined wealth has risen by 4.5%

The 2023 Sunday Times Rich List has been announced, with 171 billionaires recorded in the UK this year. This year’s list of the wealthiest people in the UK see’s INEOS CEO and potential future owner of Manchester United, Jim Ratcliffe, shoot up the rankings to second.

While the number of UK billionaires is down six from 2022, the overall combined wealth has risen 4.5% on last year’s figure, now standing at £683.856 billion. The young rich list is led by the Duke of Westminster who, at 32, oversees real estate in 43 cities across ten countries.

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Also appearing on the ‘35 under 35’ section of the Sunday Times Rich List is tech billionaire and CEO of Hopin LTD Johnny Boufharat, who played a pivotal role in popularising remote work. Joining him on the list is Ed Sheeran, who was crowned the richest entertainer under 35.

The youngest female billionaire in the UK is Lady Charlotte Wellesley, who took the coveted number two spot with a wealth of £2.167bn. Lady Wellesley is the great-granddaughter of the late German Emperor Wilhelm 11 and daughter of Princess Antonia of Prussia.

The Sunday Times Rich List includes the financial assets of notable families such as the Dyson family and David and Simon Reuben and family. The Weston family, who own value fashion chain Primark, have kept their place in the top ten despite losing the Buckinghamshire-born kingpin Gale Weston just two years ago.  

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Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List shows a golden period for the super rich is over. For the first time in 14 years we’ve seen the number of UK billionaires fall.

“Two years ago we raised concerns about an unsettling boom in the fortunes of the very wealthy that continued unchecked during the political instability around Brexit and the pandemic.

“This is not a crash - but there are household names who have lost vast sums over the past year. The bursting of the tech bubble, the end of rock bottom interests and the jitters creeping through the banking industry have all taken their toll.”

“The super rich don’t exist in a vacuum. Many small investors lost money in some of their overblown stock market floats. Many people also work for their businesses. Financial losses for billionaires can have implications for us all.”

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Here’s the top 20 wealthiest people in the UK, according to the Sunday Times 2023 Rich List.

INEOS CEO Jim Ratcliffe shot up the rankings to second INEOS CEO Jim Ratcliffe shot up the rankings to second
INEOS CEO Jim Ratcliffe shot up the rankings to second | AFP via Getty Images

Top 20 richest people in the UK, according to Sunday Times

  • 1. Gopi Hinduja and family – £35 billion
  • 2. Sir Jim Ratcliffe – £29.7 billion
  • 3. Sir Leonard Blavatnik – £28.6 billion
  • 4. David and Simon Reuben and family – £24.4 billion
  • 5. Sir James Dyson and family – £23 billion
  • 6. Lakshmi Mittal and family – £16 billion
  • 7. Guy, George, Alannah and Galen Weston and family – £14.5 billion
  • 8. Charlene de Carvalho-Heineken and Michel de Carvalho – £13.1 billion
  • 9. Kirsten and Jorn Rausing – £12 billion
  • 10. Michael Platt – £11.5 billion
  • 11. The Duke of Westminster and the Grosvenor family – £9.9 billion
  • 12. Marit, Lisbet, Sigrid and Hans Rausing – £9.3 billion
  • 13. Andy Currie – £9.2 billion
  • 14. John Reece – £9.1 billion
  • 15. Alex Gerko – £9.1 billion
  • 16. Denise, John and Peter Coates and family – £8.8 billion
  • 17. Anders Holch Povlsen £8.5 billion
  • 18. Barnaby and Merlin Swire and family – £8.4 billion
  • 19. John Fredriksen and family – £8.3 billion
  • 20. Mikhail Fridman – £8.2 billion

Find out more by visiting The Sunday Times website.

Responding to the Sunday Times Rich List, Dr George Dibb, head of the centre for economic justice at the IPPR think tank, said: "While a rising number of households on the lowest incomes simply cannot pay their bills, the fact that a few of the UK’s richest people have seen dips in their wealth is outweighed by the growth in combined wealth of the 171 billionaires.

“Sky-high energy bills have fed into record profits for oil firms, who have passed this directly to those lucky enough to be shareholders, funnelling higher bill payments by everyone into the wealth of the richest.

“It’s more urgent than ever to address rising inequality in our economy: income from wealth should be taxed at the same rate as income from work, and we must ensure everyone benefits from a growing economy, not just a lucky few."

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