The recession has wiped £155 billion from the fortunes of Britain’s richest 1,000 people, equivalent to more than a third of their wealth, a fact revealed in the 2009 Sunday Times Rich List, published today, and is the biggest annual fall since it was first compiled 21 years ago. The number of UK based billionaires has fallen from 75 to 43. The Rich List’s combined wealth adds up to £258.27 billion, compared with £412.8 billion last year. The UK’s biggest loser is steel billionaire Lakshmi Mittal who has seen £16.9 billion evaporate as a result of the collapse of the world steel market this year. Now worth £10.8 billion, Mittal remains the richest person in Britain. Chelsea FC owner Roman Abramovich’s surviving £7 billion (down 40%) makes him second richest and the Duke of Westminster is the richest Briton and continues to occupy third position overall with a fortune of £6.5 billion.
Sir Richard Branson is reported to have a diminishing £1.2 billion (down 56%) and Sir Ken Morrison of supermarket fame has bucked the trend and seen his fortune increase to £1.6 billion.
Tim Waterstone, founder of the Waterstone’s bookshop chain attacked the recent announcement of a 50p tax band and described it as a “disincentive to entrepreneurs”.
Tim Waterstone, founder of the Waterstone’s bookshop chain attacked the recent announcement of a 50p tax band and described it as a “disincentive to entrepreneurs”.
What will the next year bring?
Gareth
The logo used above is that of the UK Entrepreneurs Club - it could be worth PAs checking it out for their Boss.
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