logo
The Sunday Times Rich List 2025 revealed

The Sunday Times Rich List 2025 revealed

Times16-05-2025

Inventors and industrialists, football club owners, Liverpool's richest man, pop stars and asylum kings, along with a couple from Suffolk who became billionaires overnight, the Rich List is full of risk-taking, resilience and reward — along with luck. Taking the top spot for the fourth successive year is Gopi Hinduja, 85, and family with a fortune of £35 billion. Hinduja lost £5.2 million a day over the past 12 months but is investing in electric chargers for vehicles in the UK. The Sunday Times's annual examination of the finances of Britain's most affluent individuals and families has been one of the toughest to compile due to Trump's tariffs and the ensuing stock market turbulence.
The result is a stark reflection of the state of

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Live Economy shrinks in blow for Reeves
Live Economy shrinks in blow for Reeves

Telegraph

time32 minutes ago

  • Telegraph

Live Economy shrinks in blow for Reeves

Britain's economy shrank at the start of the second quarter, official figures show, in a blow for the Chancellor after her spending review. UK gross domestic product (GDP) contracted by 0.3pc during the month, according to the Office for National Statistics (ONS). This was worse than analysts' fears that the economy would shrink by 0.1pc and follows a 0.7pc expansion during the first three months of the year. The data covers the month when Donald Trump launched his so-called 'liberation day' tariff onslaught which threatened to upend global trade. ONS director of economic statistics Liz McKeown said: 'After increasing for each of the four preceding months, April saw the largest monthly fall on record in goods exports to the United States with decreases seen across most types of goods, following the recent introduction of tariffs.' The figures come a day after economists warned that Britain faces tax rises in the autumn after Rachel Reeves unveiled her spending review. The Chancellor has made growing the economy one of her key missions as she battles to shore up the public finances. An expanding economy would mean that she is better able to pay off the nation's debt and would improve living standards. Ms Reeves said: 'Our number one mission is delivering growth to put more money in people's pockets through our Plan for Change, and while these numbers are clearly disappointing, I'm determined to deliver on that mission.'

UK economy shrunk in April as tax rises kicked in
UK economy shrunk in April as tax rises kicked in

BBC News

time36 minutes ago

  • BBC News

UK economy shrunk in April as tax rises kicked in

The UK economy shrunk by more than expected in April as tax increases kicked in for employers and British exporters faced huge uncertainty over US trade economy contracted by 0.3%, with the services sector being particularly hard hit. Economists had predicted a 0.1% April, employers' National Insurance rose while energy, water and council tax bills increased for figures come after a day after chancellor Rachel Reeves set out spending plans aimed at boosting growth, with funding increases for the NHS and defence, but budgets squeezed elsewhere.

Britain morphing into ‘National Health State', says think tank
Britain morphing into ‘National Health State', says think tank

The Independent

time36 minutes ago

  • The Independent

Britain morphing into ‘National Health State', says think tank

Britain is turning into a 'National Health State', a think tank has said after the Chancellor gave the NHS a major funding boost in her spending review. The health service was the big winner of Wednesday's spending review, receiving an extra £29 billion per year for day-to-day spending and more cash for capital investment. Overnight, the Resolution Foundation said Rachel Reeves's announcements had followed a recent trend that saw increases for the NHS come at the expense of other public services. Ruth Curtice, chief executive of the Resolution Foundation, said: 'Health accounted for 90% of the extra public service spending, continuing a trend that is seeing the British state morph into a National Health State, with half of public service spending set to be on health by the end of the decade.' Defence was another of Wednesday's winners, Ms Curtice said, receiving a significant increase in capital spending while other departments saw an overall £3.6 billion real-terms cut in investment. The Institute for Fiscal Studies (IFS) made similar arguments about 'substantial' investment in the NHS and defence coming at the expense of other departments, although the think tank's director Paul Johnson warned the money may not be enough. He said: 'Aiming to get back to meeting the NHS 18-week target for hospital waiting times within this Parliament is enormously ambitious – an NHS funding settlement below the long-run average might not measure up. 'And on defence, it's entirely possible that an increase in the Nato spending target will mean that maintaining defence spending at 2.6% of GDP no longer cuts the mustard.' Ms Curtice added that low and middle-income families had also done well out of the spending review 'after two rounds of painful tax rises and welfare cuts', with the poorest fifth of families benefiting from an average of £1,700 in extra spending on schools, hospitals and the police. She warned that, without economic growth, another round of tax rises was likely to come in the autumn as the Chancellor seeks to balance the books. She said: 'The extra money in this spending review has already been accounted for in the last forecast. 'But a weaker economic outlook and the unfunded changes to winter fuel payments mean the Chancellor will likely need to look again at tax rises in the autumn.' Speaking after delivering her spending review, Ms Reeves insisted she would not have to raise taxes to cover her spending review. She told GB News: 'Every penny of this is funded through the tax increases and the changes to the fiscal rules that we set out last autumn.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store