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Rich List shows huge swing back to wealth

Steve Dinneen
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THE RICHEST people in the country saw an astonishing reversal in fortunes this year as their collective wealth rocketed more than £77bn.

The annual Rich List compiled by the Sunday Times shows the super-wealthy managed to more than claw back losses made during the dark depths of the global recession.

The wealth of the 1,000 richest men and women increased by almost 30 per cent to £336bn – the biggest leap recorded in the 22 years of the list.

The number of billionaires has jumped from 43 to 53 and the top 100 richest share an even greater slice of the pie, commanding more than 54 per cent of the total.

The British contingent bounced back quicker than the European and world’s wealthiest. In Europe the year on year rise was 27 per cent to £420bn. Globally the rise is almost 25 per cent with a total wealth of more than £755bn.

The number of City bankers in the top 1,000 has jumped as the markets continue to thrive. There are now 170 financial millionaires in the list, up ten on last year. London remains the hub of wealth, with 531 of the top 1,000 located there, slightly higher than the year before.

The number of women in it has dipped by one to 99.

The man retaining his spot as the richest person in the country, steel tycoon Lakshmi Mittal, is a prime example of the mixed fortunes of the last two years. In 2009 his firm ArcelorMittal experienced a torrid time as business dried up and its share price crumbled. This year it stands at £22bn, a jump of 108 per cent.

Chelsea owner Roman Abramovich maintained second spot after seeing his fortune rise £400m, or six per cent, to £7.4bn.

In third place is the Duke of Westminster, who saw his Grosvenor property group gain £250m to bring his total wealth to £6.8bn.

The hedge fund trader Christopher Cooper-Hohn topped the Giving List for the third year running, donating £531.2m to the Children’s Investment Fund Foundation.

1. LAKSHMI MITTAL:
The ArcelorMittal owner saw his fortunes rocket as the steel business picked up, allowing his business to grow by a staggering 108 per cent.

2. ROMAN ABRAMOVICH:
The Chelsea owner’s fortune increased by £400m to a cool £7.4bn.

3. THE DUKE OF WESTMINSTER:
The Grosvenor Group increased in value by £250m to give the tycoon a value of £6.75bn.

4. ERNESTO + KIRSTY BERTARELLI:
The pharmaceuticals-rich couple’s wealth is up £950m to £5.95bn.

5. DAVID + SIMON REUBEN:
The property and internet business empire run by the brothers shot up £3.03bn to £5.53bn.

6. ALISHER USMANOV:
The steel and mining magnate saw his fortune leap £3.2bn to £4.7bn.

7. GALEN + GEORGE WESTON AND FAMILY:
Their retailing business is up £3.6bn to £4.5bn.

8. CHARLENE + MICHAEL DE CARVALHO:
Their empire is up £1.44bn to £4.4bn.

9. SIR PHILIP + LADY GREEN:
The retail guru’s wealth is up £275m to £4.1bn.

10. ANIL AGARWAL:
The mining tycoon saw his wealth shoot up £3.5bn to £4.1bn.

CITY FIGURES | WHERE THE MONEY IS
LOUIS BACON
The hedge fund manager, who has £10bn under his wing, saw his wealth shoot up £450m to £1.1bn.

DAVID HARDING
The Winton Capital hedge fund boss increased his wealth by £48m to £430m last year.

NAT ROTHSCHILD
The Atticus Capital co-chair had another storming year, maintaining his wealth at £330m.

PAUL MARSHALL
The co-founder of Marshall Wace added half again to his wealth, notching up an extra £100m to take his total to £300m.

CRISPIN ODEY
The hedge fund manager had a tub thumping year, taking his value to £297m, up £93m.

GREG COFFEY
The GLG hedge fund manager added £14m to his personal fortune to take his overall wealth to £214m.

PIERRE LAGRANGE
The Belgian former Goldman Sachs trader, who left to form the GLG hedge fund, saw his wealth leap £12m to £207m.

TERRY SMITH
One of the City’s best-known bosses, the head of inter-dealer broker Tullett Prebon’s wealth is estimated to have risen to £63m, up from £47m.

ALEXANDER HOARE
Hoare and his family, who own the historic C Hoare & Co bank in Fleet Street, came in at a cool £225m.

SIR RONNIE COHEN
Despite giving a hefty £20m to charity, the Egyptian-born financier’s wealth is an estimated £200m.