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Britain’s wealthiest are 10% richer

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14/05/2018
The 1,000 richest individuals in the UK have a combined wealth of £724bn, 10% higher than last year, according to this year’s Sunday Times Rich List.

The list also saw the number of billionaires rise to 145, 11 more than last year.

It’s getting more difficult to break into the Rich List. Today, you need wealth of £115m to make the list, compared to £30m in the first edition in 1989.

This year’s list also saw a record number of women, but they still only made up 14% of the list. In 1989 there were only nine women, equivalent to 4.5%. In the original list, only 2.5% were from ethnic minorities, compared to 8.6% today.

There was also a shift in the way the rich have made their wealth. In 1989, 28.5% of the total were landowners, 16.4% of the current list owe their wealth to property. There are now 169 (out of 1,000) who made their money in the finance sector.

Only 5.7% have inherited wealth. Two fifths (43%) made their money themselves and this year’s Rich List included the founders of Hotel Chocolat, BrewDog and Fever Tree.

The wealthiest financier was Bruno Schroder, founder of fund management group Schroders, with an estimated wealth of £979m. Peter Hargreaves, former head of Hargreaves Lansdown also makes the list with wealth of £849m.

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