Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

UK's wealthiest see fortunes rise at record rate

1 comment
UK's wealthiest see fortunes rise at record rate

The UK’s 1,000 richest people have seen their wealth soar 15.4% over the last year from, the biggest 12 month gain in the history of the Sunday Times’ Rich List, from £449 billion to £519 billion.

The combined wealth of the list has now more than doubled since the crash, aided by last year’s accelerating equity markets.  

‘I’ve never seen such a phenomenal rise in personal wealth as the growth in the fortunes of Britain’s 1,000 richest people over the past year,’ said Philip Beresford, who has compiled the list for 25 years.

‘The richest have had an astonishing year, and while some may criticise them, many of these people are at the heart of the economy and their success brings more jobs and more wealth for the country.’

The minimum fortune required to get onto the list now stands at £85 million versus £80 million at the very peak of the pre-crash boom.  Entry to the top 500 now requires £190 million versus £80 million in 2004.

Figures released last week showed two of finance’s most-famous self-made millionaires, Peter Hargreaves and Steve Lansdown, rapidly climbing in the top 100.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Volatility is back, Europe's future & Ethical's key moment

Volatility is back, Europe's future & Ethical's key moment

This week’s episode of Investment Pulse takes a look at European prospects, FTSE volatility and whether public pressure is about to provide a push for ethical investment

Play Volatility spike: How ETFs can soften the blow

Volatility spike: How ETFs can soften the blow

ETFGI’s Deborah Fuhr discusses the role of ETFs in client portfolios during volatile market conditions

Play Winter market warmers, the post QE world and timing the Fed

Winter market warmers, the post QE world and timing the Fed

This week’s episode of Investment Pulse looks at the winding down of quantitative easing, whether to try and time a US Federal Reserve rate rise and if strong seasonal performers can reverse recent market slumps

Wealth Manager on Twitter