Sunday Times Rich List 2024: Wealthiest people in UK as Gopi Hinduja remains on top - full list

The 2024 Sunday Times Rich List has been announced, with 165 billionaires recorded this year - a drop from 177 in 2022. This year's list of the wealthiest persons in the UK sees Ukrainian-born British-American businessman and philanthropist taking the second spot from Sir Jim Ratcliffe while Gopi Hinduja and his family remain the richest people in the country.

The annual Rich List has once again revealed a similar story of financial ups and downs for some of the world's richest people. Following the trend of the previous year, some renowned personalities have suffered huge losses in their fortunes. Sir Richard Branson, well known for his Virgin Money and Galantic companies, has seen his wealth fall to £2.4 billion, dropping back to 2000 levels. 

Similarly, Sir Jim Ratcliffe, last year's top riser, has suffered significant losses, slipping down two spots on the list due to Ineos Group Holdings SA's profit dip, which totalled £6.169 billion. 

Among the largest losers this year are well-known figures such as Sir James Dyson and his family, who have a worth of £2.2 billion, and Andy Currie, whose fortune has dropped to £1.919 billion, due partly to his participation with Ineos. 

Sir Paul McCartney, on the other hand, has made history as the first British artist to become a billionaire, with his fortune enhanced by £50 million from a year of touring and the lucrative value of his back catalogue, along with covers by Beyoncé.

Among the top risers on the list are Barnaby and Merlin Swire, alongside their family, whose two-century-old enterprise boasts a substantial share in Cathay Pacific, coupled with extensive business ventures in Hong Kong, totaling £8.82 billion.

Following closely is Idan Ofer, successor to his father Sammy Ofer's legacy, who, post his service in the Royal Navy during World War II, spearheaded the expansion of a shipping empire, now valued at £6.96 billion.

Also making significant strides is John Frederiksen and his family, renowned for their involvement in the oil and tanker industry. With roots in Norway but now based in Cyprus, Frederiksen has built a considerable fortune, creating a considerable legacy for his twin daughters. 

His assets, amounting to £4.556 billion, include a lavish Chelsea residence complete with a grand ballroom. This year's list also has newcomers Graham King, Jon and Susie Seaton, and Euan Blair. 

King's fortune, accumulated through holiday parks and government contracts, is £750 million, while the Seatons, founders of Sheffield-based education publisher Twinkl, now own a business worth £500 million.

Blair, the eldest son of former Prime Minister Tony Blair, has delved into the digital business with his apprenticeship firm Multiverse, which is valued at £1.4 billion. Formula One star Sir Lewis Hamilton has also made his debut on the list, amid rumours of a lucrative contract with Ferrari for up to $446 million.

Sunday Times Rich List 2024

1. Gopi Hinduja and family - £37.196bn

2. Sir Leonard Blavatnik - £29.246bn

3. David and Simon Reuben and family - £24.977bn

4. Sir Jim Ratcliffe - £23.519bn

5. Sir James Dyson and family - £20.8bn

6. Barnaby and Merlin Swire and family - £17.2bn

7. Idan Ofer - £14.960bn

8. Lakshmi Mittal and family - £14.921bn

9. Guy, George, Alannah and Galen Weston and family - £14.493bn

10. John Fredriksen and family - £12.867bn

11. Kirsten and Jorn Rausing - £12.634bn

12. Alex Gerko - £12.055bn

13. Michael Platt - £12bn

14. Charlene de Carvalho-Heineken and Michel de Carvalho - £11.751bn

15. The Duke of Westminster and the Grosvenor family - £10.127bn

16. Marit, Lisbet, Sigrid and Hans Rausing - £9.188bn

17. Carrie and François Perrodo and family - £9.168bn

18. Nicky Oppenheimer and family - £7.937bn

19. Lord Bamford and family - £7.65bn

20. Denise, John and Peter Coates - £7.467bn

Robert Watts, compiler of the Sunday Times Rich List, said:  “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away. 

“Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy.” 

He added: “These may be harder times to create wealth, but The Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways. This year’s new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aides. We know many of our readers find such people — especially those from humbler backgrounds — very inspiring.”