One in Three Billionaires Under 35 Did Not Attend College... UK '2023 Rich List'

Sunday Times '2023 Rich List'

As interest rates rose and a large amount of money was circulated, the number of billionaires in the UK decreased. Amid this, top celebrities and athletes newly joined the ranks of billionaires.

The UK Sunday Times announced the '2023 Rich List' on the 19th (local time), stating that the number of billionaires with assets exceeding ?1 billion (?1.65 trillion) has decreased for the first time since the 2008 global financial crisis.

In 2023, there were 171 billionaires with assets over ?1 billion, down by 6 from last year.

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Their total assets increased by 4.5% to ?683.9 billion, but considering the inflation rate exceeding 10%, this effectively represents a decline.

The Sunday Times analyzed, "The party is over, and now it's time to sober up." A retailer who made this year's rich list said, "Thanks to years of low interest rates, it was easy to expand businesses," adding, "Now, honestly, it's time to be more discerning."

In the case of Prime Minister Rishi Sunak and his wife Akshata Murty, Murty's stake in the Indian IT giant Infosys declined in value, reducing their assets by ?530 million (?874 billion), a decrease of ?200 million, and their ranking fell from 222nd last year to 275th this year.

Richard Branson of Virgin Group saw his assets plunge by more than 40% to ?2.41 billion. The biggest reason was Virgin Orbit's failure in satellite launches.

Denis Sverdlov, founder of the electric vehicle company Arrival, which attracted attention in Korea with investments from Hyundai Motor and Kia, was completely dropped from the rich list.

The Hinduja family maintained their top position for the second consecutive year. Founded in 1914 in Mumbai, India, the Hinduja Group operates businesses worldwide in various sectors including oil, real estate, finance, and information technology (IT), with assets totaling ?35 billion.

Next is Jim Ratcliffe, founder of the global chemical company INEOS, whose assets grew the most dramatically from ?6.1 billion last year to ?29.7 billion this year, boosted by rising oil prices. Ratcliffe is currently pursuing the acquisition of Manchester United in the English Premier League (EPL).

Additionally, many celebrities such as JK Rowling, Elton John, Paul McCartney, and David Beckham and his wife also made the rich list. JK Rowling, the original author of Harry Potter, is expected to become even wealthier by selling the rights to the Harry Potter series to the US HBO channel.

The Sunday Times separately selected 35 wealthy individuals under the age of 35, with the Duke of Westminster ranking first. His assets, including real estate in affluent London neighborhoods, amount to ?9.9 billion.

Famous stars such as Ed Sheeran (?300 million), Adele, Harry Styles, Harry Kane, and Daniel Radcliffe were also included.

The Sunday Times noted that most young wealthy individuals built their fortunes themselves, half attended public schools, and one-third did not attend university.

This content was produced with the assistance of AI translation services.