Latest news with #RichList2025
Yahoo
20-05-2025
- Business
- Yahoo
82 UK billionaires alone hold £312bn wealth
The number of billionaires in the UK has slipped slightly, but their collective fortunes continue to rise, according to UBS' (UBS) Billionaire Ambitions Report. The report reveals that the UK was home to 82 billionaires in 2024, down from 83 a year ago, although their combined wealth has climbed 9.7% from $380.6bn in 2023 to $417.5bn (£312bn). While the UK remains ahead of European peers such as Italy (62 billionaires), France (46), Sweden (28) and Spain (27), it trails Switzerland (85) and Germany (117) in Western Europe's billionaire rankings. In the UK, over two-thirds (72%) are self-made millionaires. The Hinduja family — owners of the Indian industrial conglomerate Hinduja Group — sit at the top of the Sunday Times Rich List 2025. Despite a dip in their overall fortune, Gopi Hinduja and his family still hold an estimated £35.3bn. Other names include inventor and vacuum magnate James Dyson and Jim Ratcliffe, petrochemicals billionaire and part-owner of Manchester United. The UK has been losing some of richest residents as the Labour government abolished the non-dom tax status in April, which is where UK residents have their permanent home or domicile outside the UK for tax purposes. Read more: How to tell if you're rich In April, the government replaced the non-dom status with a new foreign income and gains regime. The scheme offers tax relief on overseas earnings for the first four years of UK tax residence — provided the individual has not lived in the UK for any of the preceding 10 years. This policy shift, initially proposed by former Conservative chancellor Jeremy Hunt and accelerated by his Labour successor Rachel Reeves, has prompted some of the UK's wealthiest to relocate abroad. Billionaires are moving to countries such as Switzerland, the UAE, Singapore and the United States, according to UBS. 'People are relocating to jurisdictions not just for tax benefits, but also for safety and political reasons,' explains a US billionaire. 'I moved several years ago with my family to a country, state and city that affords the benefits most seek. "Unless the political divide addresses failed policies that have yet to curb crime, lack of rule of law and safety, as well as fostering an economic climate that unleashes potential, I fear the trend will continue.' Globally, billionaire wealth is booming. Western Europe saw its billionaire wealth grow by 16% to $2.7tn, with Switzerland's billionaires recording a striking 23.8% increase. The number of billionaires across the region rose from 456 to 495. In the UAE, billionaire wealth surged by nearly 40% to $138.7bn, with one new billionaire joining their ranks, bringing the total to 18. Across the broader EMEA region, the number of billionaires rose by 70 to 728, with total wealth increasing by 17% to $3.7tn. The United States remained the global powerhouse of billionaire wealth in 2024. American billionaires saw their collective fortune jump by 27.6% to $5.8tn, representing more than 40% of global billionaire wealth. The US added 101 new billionaires, pushing its total to 835. Read more: What you need to know if you're planning to move to Dubai In Central and South America, 19 new Brazilian billionaires helped drive a 37.7% increase in regional wealth to $154.9bn. Across the Americas, billionaire numbers grew from 867 to 973, while their combined wealth surged 26.9% to $6.5tn. The majority of new entrants to the billionaire club were self-made. Of the 268 individuals who crossed the billion-dollar threshold for the first time, 60% were entrepreneurs — a reversal of last year's trend, where most new billionaires inherited their wealth. One of the driving forces behind this surge has been the continued boom in technology. The rise of generative AI, sparked by ChatGPT's debut in late 2022, fuelled a 36.1% increase in the collective wealth of tech billionaires to $2.45tn. Billionaires in entertainment and media, bolstered by the gaming sector, also saw strong gains, with total wealth up 26.3% to $970bn. Financial services billionaires saw their fortunes rise 23.9% to $2tn, supported by equity markets. Read more: Stocks to watch this week: Palo Alto Networks, Analog Devices, Marks & Spencer, Greggs and easyJet Five 'buy' rated European travel stocks Why it's important to plan for retirement with your partnerError while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
82 UK billionaires alone hold £312bn wealth
The number of billionaires in the UK has slipped slightly, but their collective fortunes continue to rise, according to UBS' (UBS) Billionaire Ambitions Report. The report reveals that the UK was home to 82 billionaires in 2024, down from 83 a year ago, although their combined wealth has climbed 9.7% from $380.6bn in 2023 to $417.5bn (£312bn). While the UK remains ahead of European peers such as Italy (62 billionaires), France (46), Sweden (28) and Spain (27), it trails Switzerland (85) and Germany (117) in Western Europe's billionaire rankings. In the UK, over two-thirds (72%) are self-made millionaires. The Hinduja family — owners of the Indian industrial conglomerate Hinduja Group — sit at the top of the Sunday Times Rich List 2025. Despite a dip in their overall fortune, Gopi Hinduja and his family still hold an estimated £35.3bn. Other names include inventor and vacuum magnate James Dyson and Jim Ratcliffe, petrochemicals billionaire and part-owner of Manchester United. The UK has been losing some of richest residents as the Labour government abolished the non-dom tax status in April, which is where UK residents have their permanent home or domicile outside the UK for tax purposes. Read more: How to tell if you're rich In April, the government replaced the non-dom status with a new foreign income and gains regime. The scheme offers tax relief on overseas earnings for the first four years of UK tax residence — provided the individual has not lived in the UK for any of the preceding 10 years. This policy shift, initially proposed by former Conservative chancellor Jeremy Hunt and accelerated by his Labour successor Rachel Reeves, has prompted some of the UK's wealthiest to relocate abroad. Billionaires are moving to countries such as Switzerland, the UAE, Singapore and the United States, according to UBS. 'People are relocating to jurisdictions not just for tax benefits, but also for safety and political reasons,' explains a US billionaire. 'I moved several years ago with my family to a country, state and city that affords the benefits most seek. "Unless the political divide addresses failed policies that have yet to curb crime, lack of rule of law and safety, as well as fostering an economic climate that unleashes potential, I fear the trend will continue.' Globally, billionaire wealth is booming. Western Europe saw its billionaire wealth grow by 16% to $2.7tn, with Switzerland's billionaires recording a striking 23.8% increase. The number of billionaires across the region rose from 456 to 495. In the UAE, billionaire wealth surged by nearly 40% to $138.7bn, with one new billionaire joining their ranks, bringing the total to 18. Across the broader EMEA region, the number of billionaires rose by 70 to 728, with total wealth increasing by 17% to $3.7tn. The United States remained the global powerhouse of billionaire wealth in 2024. American billionaires saw their collective fortune jump by 27.6% to $5.8tn, representing more than 40% of global billionaire wealth. The US added 101 new billionaires, pushing its total to 835. Read more: What you need to know if you're planning to move to Dubai In Central and South America, 19 new Brazilian billionaires helped drive a 37.7% increase in regional wealth to $154.9bn. Across the Americas, billionaire numbers grew from 867 to 973, while their combined wealth surged 26.9% to $6.5tn. The majority of new entrants to the billionaire club were self-made. Of the 268 individuals who crossed the billion-dollar threshold for the first time, 60% were entrepreneurs — a reversal of last year's trend, where most new billionaires inherited their wealth. One of the driving forces behind this surge has been the continued boom in technology. The rise of generative AI, sparked by ChatGPT's debut in late 2022, fuelled a 36.1% increase in the collective wealth of tech billionaires to $2.45tn. Billionaires in entertainment and media, bolstered by the gaming sector, also saw strong gains, with total wealth up 26.3% to $970bn. Financial services billionaires saw their fortunes rise 23.9% to $2tn, supported by equity markets. Read more: Stocks to watch this week: Palo Alto Networks, Analog Devices, Marks & Spencer, Greggs and easyJet Five 'buy' rated European travel stocks Why it's important to plan for retirement with your partnerError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
19-05-2025
- Business
- India.com
British ruled India for 170 years, looted us, now an Indian is richest person in Britain, richer than Queen, net worth is Rs..., name is...
New Delhi: It is said that the British ruled over India for nearly 200 years and took away a huge amount of wealth and property from here. Despite such a massive looting by the British, today the richest person in Britain is an Indian. This Indian family residing in Britain possesses more wealth than even the Queen of England, and throughout Britain, this family's influence is significant. The Times Magazine's Rich List 2025 has once again chosen this Indian family as number 1. At the top of the Times Rich List 2025 is the name of Gopichand Hinduja and his family. This family has approximately 33.67 lakh crore rupees in assets. They have left behind the David and Simon Reuben family, who are in second place, by a margin of 8 thousand crore rupees. This family is the owner of the multinational company Hinduja Group, which operates in trucking, lubricant, banking, and cable television sectors. About Gopichand Hinduja Gopichand works as the chairman of the Hinduja Group. He assumed this position in May 2023 after the death of his older brother, Srichand Hinduja. The Hinduja family also holds a strong foothold in the real estate sector in London, where the most famous property is the Raffles London Hotel, located in the historic Old War Office building in Whitehall. Graduation from India Gopichand Hinduja completed his graduation in 1959 from Jai Hind College in Mumbai. After that, he obtained a doctorate in law from Westminster University. Gopichand did not stop there; he also pursued a doctorate in economics from Richmond College, London, and then took steps towards starting his own business. Under his leadership, the Hinduja Group acquired Gulf Oil in 1984, and just three years later, also acquired Ashok Leyland. Gopichand currently resides in London, while his younger brother Prakash lives in Monaco, and the youngest brother Ashok stays in Mumbai overseeing Indian businesses. The Hinduja family had to go through a rough phase when a dispute over property among the Hinduja brothers started. It continued for a long time and finally in November 2022, the Hinduja brothers decided to end the dispute. The brothers agreed to halt the lawsuits ongoing across Europe and deemed it appropriate to work together.
Yahoo
16-05-2025
- Business
- Yahoo
UK has fewer billionaires in 2025, Sunday Times 'Rich List' shows
LONDON (Reuters) - The number of billionaires in Britain has fallen in 2025, The Sunday Times said on Friday in its annual compilation of the country's richest people, adding that it was the biggest drop in billionaires since the list began in 1989. The newspaper's Rich List 2025 was topped by businessman Gopi Hinduja, 85, and family, for the fourth straight year, with a fortune of 35 billion pounds ($46.5 billion). David and Simon Reuben and family, part owners of soccer team Newcastle, were second with a fortune of 26.87 billion pounds, while businessman Leonard Blavatnik was next with 25.73 billion pounds, the list showed. The list had 156 billionaires, lower than the 165 in 2024. The 2025 decline continues a trend seen in recent years. Stock market turbulence in a period marked by U.S. President Donald Trump's trade tariffs led to the net worth of some individuals with stakes in public companies falling significantly. The findings also come at a time when the strength of the Labour government's relationship with Britain's business community and ultra wealthy is under intense pressure over revenue-raising tax changes. The paper cited the end of a 'non-dom' tax exemption for wealthy foreigners, or non-domiciled residents, as a possible reason for the decline in billionaires. Billionaires who featured in last year's list and were missing from the 2025 edition included French luxury goods magnate Francois-Henri Pinault and his Hollywood actress wife Salma Hayek, the Fayeds, who owned London department store Harrods, and South African-born diamond billionaire Nicky Oppenheimer. The list showed King Charles' wealth grew by 30 million pounds to 640 million pounds, taking his rank 20 places higher to 258 in the 350-member list. Former prime minister Rishi Sunak and his wife Akshata Murty were also at 238th place on the list. With a fortune of 363 million pounds, U.S. chat show host Ellen DeGeneres was a new entrant to the list, having recently moved to the picturesque Costwolds region of southern England. ($1 = 0.7526 pounds)
Economic Times
16-05-2025
- Business
- Economic Times
This Indian-origin family now rules the Times Rich List 2025
In its 37th edition, the Sunday Times Rich List reflects broader shifts in the global economy, with the total wealth of the top 350 dropping by 3% to £772.8 billion. This marks the third consecutive year of decline and the steepest fall in the number of UK billionaires in the list's history, as per a report by The Hinduja and his family have retained the top spot for the fourth year in a row, with an estimated fortune of £35.3 billion. Despite a dip from £37.2 billion last year, the Hinduja Group remains one of the most diversified business empires, with interests across finance, automotive, energy, and real estate in 48 countries. Recent acquisitions, including Invesco India, Reliance Capital, and Indra Renewable Technologies in the UK, highlight their continued expansion into insurance and green the Hinduja family maintains its lead, the overall list paints a picture of a more cautious investment environment. Stock market volatility, rising interest rates, and changes in UK tax policy have impacted high-net-worth individuals. Several longstanding names saw their fortunes decrease, while others dropped off the list and innovation continued to produce new wealth. Dmitry Bukhman, the co-founder of gaming company Playrix, topped the under-40 category with a net worth of £12.54 billion. AI entrepreneurs such as Piotr Dabkowski and Mati Staniszewski of ElevenLabs, and Steffen Tjerrild and Victor Riparbelli of Synthesia, also made significant entries this year. (Join our ETNRI WhatsApp channel for all the latest updates) As per a report by The Times, in sport and entertainment, Gymshark founder Ben Francis reported £726 million, while footballer Harry Kane and singer Dua Lipa featured with £100 million and £115 million, respectively. The Duke of Westminster, Hugh Grosvenor, maintained a strong presence on the list with £9.88 billion, supported by extensive property holdings in central London and rural estates. Despite this year's downturn, certain investments showed resilience. Jim Ratcliffe's recent acquisition of a stake in Manchester United and the Weston family's Canadian retail holdings registered notable gains. However, growing concerns over tax and economic stability in the UK are prompting some of the wealthiest to explore relocation to countries such as the UAE and Rich List 2025 not only charts wealth but also highlights the industries and regions driving change. While traditional sectors have seen pressure, technology, renewable energy, and global diversification continue to shape the future of wealth in Britain.
