Rich List 2022 Millionaires
220 FREDDIE LINNETT AND THE MURPHY FAMILY
£744m £3m ▲
Property 2021: £741m, 218221 FAWN AND INDIA ROSE JAMES AND FAMILY
£738m £17m ▲
Property: Soho Estates 2021: £721m, 222222= BILL, WILL AND RICHARD AINSCOUGH
£730m £42m ▲
Property 2021: £688m, 229222= SLAVICA ECCLESTONE
£730m No change ■
Divorce 2021: £730m, 220225 MAHMUD KAMANI AND FAMILY
£720m £702m ▼
Internet retailing: BoohooBoohoo’s plunging share price has cost Kamani his billionaire status.
But he may not be shedding too many tears. The former market stall
trader founded the online fast-fashion group with his business
partner Carol Kane in 2006, producing low-cost versions of the
outfits worn by celebrities. Since then the Manchester-based
retailer has grown to encompass brands such as Oasis, Warehouse,
Debenhams, Miss Pap, Nasty Gal and PrettyLittleThing (founded
by Kamani’s sons, Umar, 34, and Adam, 32). Boohoo was rocked by
a 2020 Sunday Times investigation that laid bare poor pay and
conditions at its suppliers’ factories in Leicester and promised a
shake-up. Sales boomed during the pandemic, when Boohoo’s high
street competition was obliged to close. Rising freight costs and
global shipping disruption have conspired to rip up recent profits,
however. Kamani, 57, and his family own a 23.66 stake in the
business worth £218.4 million — down £714 million in a year. There is
family property in London, Mumbai, Dubai and New York and we see
£13 million in one UK property company. In light of the plunging
share price there is speculation that the Kamanis may seek a private
equity deal to take the firm private. 2021: £1.422bn, 118226= CHRIS OGLESBY AND FAMILY
£716m £20m ▲
Property: Bruntwood 2021: £696m, 228226= LORD VESTEY AND FAMILY
£716m £1m ▼
MeatA close friend of the Duke of Cambridge, William Vestey, 38, last
year inherited his title and the family’s 6,000-acre Cotswolds estate
after the death of his beef baron father, Samuel. The new head of
the Gloucestershire-based dynasty used to play polo with Prince
William. Nine years ago he married Violet Henderson, 37, a
contributing editor for Vogue. The third Baron Vestey — known
as “Spam” — died aged 79 nine weeks after his wife, Celia, who was
71 and a godmother of the Duke of Sussex. Family food businesses
operate in more than 70 countries. As well as the Stowell Park Estate
in Gloucestershire, the Vesteys own a sporting estate in Yorkshire
and 10,000 acres on the Scottish island of Jura. Their main business
Western United Investment Company Limited has lost £700,000
from its balance sheet in the past year. 2021: £717m, 224228 SIR EVELYN AND LADY DE ROTHSCHILD
£713m £11m ▲
Finance and media 2021: £702m, 225229 SIR LLOYD DORFMAN AND FAMILY
£712m £8m ▼
Foreign exchange and property 2021: £720m, 223230= KIRSTY BERTARELLI
£700m New entry ★
Divorce and songwritingSee panel, page 42230= ALFIE BEST AND FAMILY
£700m New entry ★
Property and caravan parksRelative Values, page 44230= SIR TOM HUNTER
£700m £29m ▼
Retailing and property 2021: £729m, 221230= MAY MAKHZOUMI AND FAMILY
£700m No change ■
Industry 2021: £700m, 226=TOOLS OF THE TRADE
Entry 210, £789mxxx222= AKSHATA MURTY AND RISHI SUNAK
£730m New entry ★
Technology and hedge fundOnce touted as a future prime minister,
Rishi Sunak’s ambitions have been
derailed by last month’s revelation that his
wife, Akshata Murty, was a “non-dom” —
a status that allows those who have their
permanent home (domicile) outside the
UK to pay tax only on earnings in this
country, for an annual charge of £30,000.
Murty, 42, an Indian citizen, is the
daughter of NR Narayana Murthy, one of
India’s richest men. She owns 0.93 per
cent of his IT giant Infosys in her own name
— a stake worth about £690 million. About
£54 million in dividends should have come
her way over the past seven years or so —
including £11 million in 2021. Murty would
have been liable for £20.6 million of UK tax
without the non-dom status and has now
agreed to pay tax on her 2021 dividends.
The row came as millions of Britons
await higher personal taxes introduced
by her husband as chancellor. The couple,
below, who married in 2009 and have twodaughters, are better placed than most to
weather the cost-of-living crisis. Murty is
believed to have moved out of Downing
Street for their London home, a £7 million
Kensington mews house. They also keep
a flat nearby for visitors. In Sunak’s
Yorkshire constituency they have a
£2 million Georgian grade II listed manor
house. Then there is their £5.5 million
Californian penthouse in Santa Monica.
Sunak worked for Goldman Sachs and
the hedge fund run by Sir Chris Hohn (qv)
before becoming an MP in 2015. He has set
up a blind trust to oversee his investments
while in government. Murty invests in
start-ups via London-based Catamaran
Ventures UK, founded in 2013. She has
backed the gentlemen’s outfitter New &
Lingwood, which measures Etonians for
their tailcoats. Not all her investments
come off: Digme Fitness, a London-based
gym chain, collapsed in March owing the
taxpayer at least £400,000.GETTY IMAGES, REX
The Sunday Times Magazine • 41