The Covid-19 pandemic has been going on for a year, most recent analysis of worldwide billionaire net worth, the U.K. billionaire class has increased.
There are now 56 billionaires in the UK as of early March 2021, up from 45 the previous year. Three of them, notably Geeta Gupta-Fisker, the chief financial officer of Fisker Inc., and Matt Moulding of the Hut Group fame, have achieved billionaire status for the first time. Nine former British billionaires have also rejoined the 3 comma club this year, including David McMurtry of the engineering company Renishaw and publishing tycoon Richard Desmond.
It has also been a challenging year for some British millionaires, notwithstanding their gains. Richard Branson and Philip Green, two of the most well-known millionaires in the UK, were severely impacted by the outbreak. Branson was compelled to recapitalize his corporate empire for $1.6 billion (£1.2 billion) and sell $500 million worth of Virgin Galactic shares. Green’s Arcadia Group also came to an end in 2021; its main assets, Topshop and Topman, had previously been sold off to assist close the organization’s enormous pension deficit, which had grown to much more than $700 million (£500 million) before the asset sale.
1. James Ratcliffe
NET WORTH: $17 billion (Up $6 billion)
SOURCE OF WEALTH: Chemicals
James Ratcliffe, who is once again the wealthiest person in the United Kingdom, is reportedly $6 billion richer than he was a year ago thanks to a recovery in the chemicals industry that increased the worth of his company, Ineos.
Ratcliffe’s highly anticipated entry into the auto industry, the Ineos Grenadier, which is the billionaire’s reimagining of the cherished Land Rover Defender, is anticipated to begin manufacturing in late 2021.
2. Hinduja Brothers
NET WORTH: $14.9 billion (Up $2 billion)
SOURCE OF WEALTH: Diversified
The four brothers are $2 billion richer than they were a year ago kudos to a diversification portfolio that encompasses trucks, lubricants, banking, and cable television. They may have lost out to Ratcliffe for the top spot in the UK and they could be at odds over ownership of a bank in Geneva.
3. Michael Platt
NET WORTH: $13 billion (Up $5 billion)
SOURCE OF WEALTH: Hedge funds
Platt, a former employee of JP Morgan, has increased his estimated net worth by $5 billion over the past year as a result of the outstanding 95% returns generated by his BlueCrest fund. A profitable family office, BlueCrest now employs over 500 people and reported increases of 50% in 2016, 2017 and 2019, as well as 25% in 2018. The investor, who returned clients’ money in 2015, transformed BlueCrest into this by investing again in 2018.
- James Dyson
NET WORTH: $9.7 billion (Up $3.8 billion)
SOURCE OF WEALTH: Electronics
The billionaire Brexiteer who stated in late 2019 that he will relocate his company to Singapore had a successful year thanks to a rise in Dyson sales of much more over 20% to $7.5 billion (£5.4 billion), which helped him increase his net worth by $3.8 billion on this year’s list. While the U.K. government rejected Dyson’s efforts to design and produce a hospital breathing machine for use on NHS wards coping with the first wave of Covid-19 admissions, the company’s foray into new categories of products like hair straighteners, hair dryers, and air purifiers has been successful. However, this rejection was one blip in a successful expansion.
- Ian & Richard Livingstone
NET WORTH: $9.3 billion (Up $2.9 billion)
SOURCE OF WEALTH: Real Estate
By properly navigating the pandemic and accompanying lockdown, the U.K. real estate billionaires actually saw their estimated net worth rise. The British brothers moved to purchase five Omni hotels in January, showing that they have an eye on the United States. And over 45 Holiday Inn Express hotels are now owned by London & Regional, their primary real estate company, in Europe.
- Anthony Bamford & family
NET WORTH: $7.9 billion (Up $2.7B)
SOURCE OF WEALTH: Construction equipment
Due of the successful performance of the construction and agricultural equipment manufacturers during the lockdown, the owner of JCB, a manufacturer of construction equipment, is $2.7 billion wealthier this year. 2020 marked the 75th anniversary of the well-known yellow digger brand, which currently generates more than $4 billion in annual sales.
- David Reuben
NET WORTH: $7.7 billion (Up $900 million)
SOURCE OF WEALTH: Real Estate
A busy year allowed the Reuben brothers to increase their real estate fortune. The Baglioni Hotel Luna in Venice and the Armani flagship shop in London both cost a lot of money to build. One setback was the rejection of a Reuben-supported offer to purchase Newcastle United on behalf of the state wealth fund of Saudi Arabia. Saudi Arabia’s Public Investment Fund, PCP Capital Partners, and Reuben Brothers issued a statement in late July of last year withdrawing from the process, despite a spokesperson’s claim that the transaction is just “on hold.”
8 . Simon Reuben
NET WORTH: $7.7 billion (Up $900 million)
SOURCE OF WEALTH: Real Estate
- Denise Coates
NET WORTH: $6.5 billion (Up $2 billion)
SOURCE OF WEALTH: Online gambling
The co-CEO of Bet365 has grown the domain name she purchased in 2000 into one of the biggest online gaming businesses in the world. Coates reportedly earned over $700 million last year, with gambling “not affected” by the coronavirus according to an industry observer, according to allegations that arose in late March after Forbes finalized net worths for the 2021 World’s Billionaires list.
- Christopher Hohn
NET WORTH: $5.9 billion ($900 million)
SOURCE OF WEALTH: Hedge funds
According to sources, the activist investor has been in charge of the Children’s Investment Company since 2003 and will offer a 14% return in 2020. In an effort to slow down climate change in 2020, Hohn used his growing clout to put pressure on businesses to properly reveal their carbon dioxide emissions.
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