The Times says the qualifying amount for entry to the Rich List has fallen from £80m last year to £55m. Steel tycoon Lakshmi Mittal is still on top of the list, worth an estimated £27.7bn, followed by Chelsea owner Roman Abramovich.
Sir Philip Green is the highest of the well-known Brit entrepreneurs on the ladder, although he and has wife, Lady Green, have slipped two places this year. They’re worth an estimated £4.3bn, down from £4.9bn last year.
Sir Richard Branson’s wealth has also dipped: from £3.1bn to £2.7bn (this year he’s 20th in the list; last year he was 11th). However, the Times notes: “Branson is still an inspiration for budding entrepreneurs, beating Jesus in a recent survey of top role models for children.”
Other notable entrants in the top 50 are Sir Anthony Bamford and family; the founder of insurance company Towergate Partnership, Peter Cullum; and former Real Business/CBI Entrepreneur of the Year John Caudwell.
The Bamfords’ wealth is put at around £2bn and this year they’re at 34th spot, up from 46th. Their pot includes cash from Sir Anthony’s wife Carole’s organic food business, Daylesford Organic.
Cullum’s leap from 106th to 40th position is impressive: he’s now worth £1.7bn, up from £700m. The Times notes: “Cullum and other Towergate directors made about £100m earlier this month through the sale of preference shares to American hedge fund Och-Ziff hours ahead of changes to capital gains tax rules, saving about £8m in tax.”
Caudwell, on the other hand, has slipped on the list although his fortune hasn’t contracted. He’s still worth £1.6bn but is now 44th on the list, compared to his 31st ranking last year.
Want to learn the secrets of some of the nation’s best (and richest) entrepreneurs? This year’s Entrepreneurs’ Summit – the "E20" – will be held on May 13, with speakers including Julie Meyer, Stelios and Ed Wray. Theme: "Don’t just Survive, Reinvent!". Supported by the CBI and in association with Investec Private Bank, Real Business readers get a recession-busting discount of £195 for a place. Venue: Marriott Grosvenor Square. Email Elicia Nairn on firstname.lastname@example.org; Tel: 020 7368 7123; www.entrepreneurssummit.comRelated articlesShow us your inbox… John CaudwellPhilip Green: “I don’t do fair”Darling’s tax hike will hurt business ownersPicture source
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