Sunday Times Rich List 2016: The number of billionaires in London has fallen, but it's still the super-rich capital of the world

 
Lynsey Barber
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The number of billionaires in the capital has fallen (Source: Getty)

The number of billionaires calling London home has fallen for the first time since the financial crisis in 2008.

Known as one of the playgrounds of the super-rich, the capital had three fewer billionaires compared to last year, a fall of three per cent, but remains home to more than any other city in the world with 77.

The number of billionaires in Moscow, Los Angeles and Mumbai also declined, down 15 per cent, 12.5 per cent and 22 per cent respectively, according to figures from the latest Sunday Times Rich List.

Meanwhile, the number of Paris billionaires increased from 21 to 30 and in Beijing from 27 to 33.

In which cities do the world's billionaires live?

London  77   (-4%)

New York  61   (+9%)

San Francisco  57   (+16%)

Moscow  38   (-16%)

Hong Kong  49   (+14%)

Los Angeles  35   (-13%)

Beijing  33   (+22%)

Mumbai  21   (-22%)

Paris  30   (+43%)

Overall, the number of billionaires in the UK grew, hitting an all-time high of 120 and with a combined wealth of £344bn, however, there were notable changes in the fortunes of some of the highest profile super-rich.

Property magnates David and Simon Reuben topped the Rich List with a fortune of £13.1bn. The pair usurped Warner Music owner Len Blavatnik, who slipped to third place with an £11.59bn fortune that was worth £1.58bn less than in 2015.

Steel magnate Lakshmi Mittal, who once boasted the biggest ever fortune of £27.7bn back in 2008, saw his fortune decline by £2.08bn - the third largest fall of any of Britain's 1,000 wealthiest - and slipped to ninth in the ranking with a £7.12bn pile.

Top five billionaires in Britain

1. David and Simon Reuben  £13.1bn  (+£3.4bn)

2. Siri and Gopi Hinduja  £13bn  (-)

3. Len Blavatnik  £11.59bn  (-£1.58bn)

4. Galen and George Weston and family  £11bn  (-)

5. Ernesto and Kirsty Bertarelli £9.78bn  (+£330m)

There was a shake-up of Brit-born billionaires, with James Dyson overtaking Sir Richard Branson at the top, and 17th overall, with a £5bn fortune.

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