“So who do I put in charge of my businesses?”
one billionaire wondered. “The sharks who might
make a mess of it all by being too greedy — or
disappear with some of it in their back pockets? Or
do I choose the dolphins, who are very nice and
trustworthy, but aren’t hungry and won’t see the
threats coming?”
Of course, the more you have accumulated, the
more you stand to lose. Jack Ma , the founder of
China’s online retail giant Alibaba — with a fortune
of £ 26.7bn — said last year that he believed the
optimum level of wealth for happiness came with
earning between £2,500 and £5,000 a month.
“Once you get beyond a few million, the troubles
start coming up,” he said. “The more money you
have, the more things you have to do.”
That’s no reason to pity the Rich Listers, of course.
These people don’t deserve your pity — and they
certainly don’t want it. But all these whispered
conversations convince me more than ever that if
you think enormous wealth insulates you from the
worries that millions of us muggles experience every
day, then you are mistaken. There are still stress, pain
and diffi cult decisions to make — although often
with a few more zeros on board.
Back in the penthouse, our billionaire has made
up his mind. “I’d be mad to sell, wouldn’t I?” he says
of the building we’re standing in. “Look at this place .”
He gestures with a wave across the London skyline.
We talk about the City, Wimbledon, top private
schools, Lord’s cricket ground and the teeming
theatreland of the West End. All are within a few
miles of this building.
“There’s nothing like all this anywhere in the
world, whether Britain’s in or out of the EU. You
know what? This building is probably going to be
worth twice as much in 10 years’ time.”
Will it be? Make sure to pick up your copy of The
Sunday Times Rich List in 2027 to fi nd out ■Rich List 2017
The Sunday Times Magazine • 9T
he fortunes of Britain’s super-
rich have been supercharged
by a “Brexit boom”, with record
wealth and more billionaires
than ever before in this year’s
Sunday Times Rich List.
Our 29th edition also reveals that
this year’s 500 richest individuals
and families are now wealthier than
the entire top 1,000 were in 2016.
There are 134 billionaires based in
Britain, led by Sri and Gopi Hinduja ,
with the wealth of the Indian-born
brothers put at £16.2bn — up
£3.2bn from last year. The pair are
transforming Westminster’s Old
War Offi ce into a luxury hotel, having
turned their late father’s business
into a vast empire spanning fi nance,
property, oil and plastics.
Sir James Dyson , who found
success with his bagless vacuum
cleaner , is one of the year’s biggest
risers. His fortune has increased to
£7.8bn — up from £5bn last year.
There have also been strong rises
for the Bet365 founder, Denise
Coates , who has become the
highest-paid woman in corporate
history, and Roman Abramovich ,
the owner of Chelsea football club.
Fifteen years ago, there were
only 21 UK-based billionaires in the
Rich List, yet, remarkably, over the
past 12 months 19 have seen their
wealth rise by more than £1bn within
a single year (see page 51).
Not all the money is being made
in the City of London or through
property and manufacturing. The
singer Adele makes her debut with£125m, after a lucrative world tour
and her Grammy -winning album
25. The list’s cast of new entries
also includes the Scottish DJ Calvin
Harris and EL James, the author of
Fifty Shades of Grey.
As many people remain anxious
about Britain’s future outside the
EU, the total wealth of Britain’s 1,
richest individuals and families
soared to £658bn — a 14% rise
on last year. The combined wealth
of the top 500 of the Rich List
surged to £580.3bn, more than the
£575.6bn total wealth of the 1,
richest people in 2016.
Robert Watts, the Rich List’s
compiler, says: “While many of us
worried about the outcome of the
EU referendum, many of Britain’s
richest people just kept calm and
carried on making billions.
“Yet we’re seeing more diversity
in the Rich List. More women, more
people from ethnic backgrounds
and more from surprising walks of
life, with egg farmers and pet-food
makers lining up with private equity
barons and hedge fund managers.”
The entry level into the Rich List’s
top 1,000 this year has risen to
£110m — double the threshold of- However, it has still been
possible to lose money over the
past 12 months. Sir Philip Green , the
Topshop tycoon shamed over his
sale of BHS for £1 , and Mike Ashley ,
who was embarrassed by Sports
Direct ’s working practices and his
wads of £50 notes, are jointly down
more than £700m (see page 36).
In a year of uncertainty, one thing was
without doubt — Britain’s richest were
getting richer. We chart the ways ...
The Rich List is generally
populated by risk-takers, who
have built empires by spotting
opportunities. They don’t hate
change — they thrive on it
Total number of UK-based
billionaires each year since 2012PEAK OF PLENTY
BOOM TIME FOR BILLIONAIRES
77
201288
2013104
2014117
2015120
2016134
2017