There’s Now More Billionaires Than Ever In The UK Despite Cost Of Living Crisis

There are now more billionaires in the UK than ever before despite the cost of living crisis.

Rising food prices and energy bills are seeing millions of households across the country struggling to make ends meet, often choosing between eating and heating.

However, despite this, hundreds of entrepreneurs and people in business have been making a tidy profit.

This year's Sunday Times Rich List has revealed that there are now 177 billionaires in Britain, which is up by six from 2021.

It also states that the richest people in Britain have increased their fortunes by eight percent over the past year, putting their combined wealth for the past 12 months alone at a colossal £710 billion.

Alamy

The top 250 entrants in this year's list are also richer than all 1,000 entries back in 2017.

Topping this year's report are Sri and Gopi Hinduja, who are said to be worth £28.472 billion, which is the largest amount ever for a family or individual in the Rich List.

Behind them are Sir James Dyson and his family, who are worth an estimated £23 billion.

The Chancellor of the Exchequer, Rishi Sunak, has also made the list of top earners this year, the first frontline politician in the UK to make the list in more than 30 years.

While he enjoyed a profitable career as a hedge fund manager before moving into politics, the 42-year-old's wealth derives largely from his wife, Akshata Murty, who owns a £690 million stake in an IT business founded by her father.

The swathe of sanctions imposed against Russian oligarchs since the start of the war in Ukraine has badly dented a number of people's wealth.

Alamy

One of the most prominent figures impacted was former Chelsea owner Roman Abramovich.

While not struggling in the true sense of the word, the 55-year-old tumbled down the list, from 20th place to 28.

The Top 10 Richest People In The UK Are:

1. Sri and Gopi Hinduja and family £28.472bn

2. Sir James Dyson and family £23bn

3. David and Simon Reuben and family £22.265bn

4. Sir Leonard Blavatnik £20bn

5. Guillaume Pousaz £19.259bn

6. Lakshmi Mittal and family £17bn

7. Christoph Henkel and family £15bn

8. Guy, George, Alannah and Galen Weston and family £13.5bn

9. Kirsten and Jorn Rausing £12bn

10. Charlene de Carvalho-Heineken and Michel de Carvalho £11.421bn