Foreign tycoons lead Britain’s billionaire league tableComments Off on Foreign tycoons lead Britain’s billionaire league table
A new list of billionaires with a UK base shows eight out of the 10 wealthiest are foreigners who made most of their money abroad, according to exclusive research for the Standard.
Of the overall top 10, only the Duke of Westminster — owner of swathes of Belgravia and Mayfair — and the Reuben brothers, also big players in the property market, have spent the bulk of their lives here.
In total, the 10 richest foreigners with homes in London are worth twice as much as their 10 “domestic” counterparts, and have seen their net worth rise by more than £2.6 billion since the start of the year.
Property Empire: The Duke of Westminster, Gerald Cavendish Grosvenor (Picture: Toby Melville, Reuters)
The findings, by the Bloomberg Billionaires Index, underline London’s status as world capital of this rarefied international group.
It comes at a time when Labour has pledged to abolish non-doms’ tax ad-vantages, and impose a mansion tax on homes worth more than £2 million.
Britain’s wealthiest person is music and media magnate Len Blavatnik, on £13.1 billion.
His 13-bedroom home in Kensington Palace Gardens could be worth as much as £200 million when its renovation is finished. The Ukraine-born owner of Warner Music Group is one of London’s biggest art patrons.
Next are Italian-born businessman and philanthropist Ernesto Bertarelli (£10.3 billion), and Arsenal investor Alisher Usmanov (£9.3 billion), one of Russia’s richest men.
Andrew Heathcote, editor of Bloomberg Billionaires Index, which launched this week, said: “Property remains the biggest area which draws their money.”
He said he was confident billionaires would not be worried about Labour’s policies. “They live in a different world in which this is not a huge issue,” he added.
1 Len Blavatnik, Ukraine £13.1bn – Investor, owner of Warner Music Group
2 Ernesto Bertarelli, Italy £10.3bn – Pharmaceuticals magnate
3 Alisher Usmanov, Russia £9.3bn – Businessman, shareholder in Arsenal
4 Lakshmi Mittal, India £9.1bn – Steel baron
5 Hans Rausing, Sweden £8.2bn – Heir to food packaging giant Tetra Pak
Chelsea-owner Roman Abramovich took sixth place (Picture: Dave Bennet, Getty Images)
6 Roman Abramovich, Russia £8.1bn – Part-owner of steel giant Evraz, Chelsea owner
7 John Fredriksen, Norway £7.5bn – Shipping magnate
8 Jörn and Kirsten Rausing*, Sweden £7.1bn – On board of packaging giant Tetra Laval, nephew and niece of Hans
9 Charlene De Carvalho-Heineken, Netherlands £6.9bn – Heineken heiress
10 Mohamed Bin Issa Al Jaber, Saudi Arabia £5.6bn – Hotels entrepreneur
1 Gerald Grosvenor £8.6bn 6th Duke of Westminster – property tycoon
2 David and Simon Reuben* £7.2bn – Entrepreneurs in areas including natural resources, data centres and pubs
3 Charles Cadogan £4.3bn – 8th Earl Cadogan, Landowner
4 Sir Richard Branson £3.8bn – Entrepreneur, founder of Virgin Group
5 Sir Philip Green £3.8bn – Owner of retail empire
Sir Philip Green owns Topshop-parent Arcadia (Picture: Dimitrios Kambouris, Getty Images)
6 Joe Lewis £3.6bn – Investor, owner of Tottenham Hotspur
7 Sir James Dyson £3.4bn – Inventor
8 Mike Ashley £3.2bn – Founder Sports Direct, owner Newcastle United
9 Bruno Schroder £3.2bn – Financial services
10 Laurence Graff £2.6bn – Founder of Graff Diamonds
Source: Bloomberg Billionaires Index. Converted from $. *Wealth shared between siblings