Socialist Worker

Rich List shows the rich getting even richer

Issue No. 2049

The fortunes of Britain’s wealthiest 1,000 people has grown 20 percent in a year, the Sunday Times Rich List has revealed.

It shows the combined wealth of the top 1,000 now stands at £360 billion. There are now 68 billionaires in the country – three times as many as in 2003.

The list compilers said the 20 percent rise for Britain’s most wealthy is significantly greater than the 14.8 percent rise in wealth of Europe’s top 50 over the past 12 months.

A fifth of the richest made their money from property. They are led by the Duke of Westminster, whose fortune grew from £6.6 billion to £7 billion. It is based on property in London’s Mayfair, Belgravia areas, and estates in Cheshire, Lancashire and Scotland.

Scotland also has its first “homegrown” billionaire in Sir Tom Hunter, who has a £1 billion fortune.

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Tue 1 May 2007, 19:22 BST
Issue No. 2049
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