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Rich List 2022: Who are the wealthiest people in the UK?

·Business Reporter, Yahoo Finance UK
·3-min read
Rishi Sunak alongside his wife Akshata Murthy
UK rich list: Rishi Sunak and wife Akshata Murty have entered The Sunday Times Rich List for the first time with their joint £730m fortune. Photo: Press Assocation

The 2022 Sunday Times Rich List has been announced, with billionaire brothers Sri and Gopi Hinduja crowned as the wealthiest people in the UK.

The annual list revealed that the pair, who run the Mumbai-based conglomerate Hinduja Group, saw their wealth jump by more than £11bn ($13.3bn) this year to £28.47bn.

According to the figures, there were a record 177 billionaires in Britain, with a number of recognisable figures including Dyson vacuum entrepreneur James Dyson, who was second on the list after a £6.7bn increase to £23bn.

Property investors David and Simon Reuben came in in third place, with £22.26 billion, while Ukrainian-born Sir Leonard Blavatnik dropped from the top spot to fourth.

Read more: Bank of England's Bailey concerned big pay rises may fuel further inflation for the poorest

However, this year, Roman Abramovich slipped out of the top 20 after the value of his assets was knocked by financial sanctions in response to Russia’s invasion of Ukraine.

The former Chelsea football club owner was subjected to sanctions by the UK government after ministers accused him of having “clear connections” to Vladimir Putin’s regime.

He was one of seven Russians worth up to £15bn who had their assets frozen. His finances plummeted from £12.2bn last year to £6bn this year thanks to the enforced sale of Chelsea and the sharp fall in his Evraz shares.

Chelsea owner Roman Abramovich
Roman Abramovich slipped out of the top 20 after the value of his assets was knocked by financial sanctions. Photo: Press Association

Fellow Russians Alisher Usmanov and Mikhail Fridman also dropped down the 2022 rich list this year.

Meanwhile, ex-chancellor Rishi Sunak and wife Akshata Murty entered The Sunday Times Rich List for the first time with their joint £730m fortune.

This places them at number 222 on the list of the 250 wealthiest people in the UK, driven by Murty’s £690m stake in Infosys (INFY), an Indian IT company founded by her father.

Their inclusion in the list comes after intense public scrutiny due to Murty holding non-domiciled status, allowing her to reduce her UK tax bill.

Read more: UK average house price falls for the first time in a year to £293,221

Overall, the richest 250 in the UK this year are worth £710.72bn, compared to £658.09bn in 2021, an 8% rise on last year, The Sunday Times said.

The publication of list comes amid Britain’s cost of living crisis which has seen 42% of households in the most deprived areas are buying less food and essentials to cope with soaring prices, according to figures from the Office for National Statistics.

The 20 richest people in the UK according to the Rich List:

  • Sri and Gopi Hinduja and family – £28.47bn

  • Sir James Dyson and family – £23bn

  • David and Simon Reuben and family – £22.26bn

  • Sir Leonard Blavatnik – £20bn

  • Guillaume Pousaz – £19.26bn

  • Lakshmi Mittal and family – £17bn

  • Guy, George, Alannah and Galen Weston and family – £13.5bn

  • Kirsten and Jorn Rausing – £12bn

  • Charlene de Carvalho-Heineken and Michel de Carvalho – £11.42bn

  • Michael Platt – £10bn

  • Alisher Usmanov – £10bn

  • The Duke of Westminster and the Grosvenor family – £9.73bn

  • Barnaby and Merlin Swire and family – £9.6bn

  • Marit, Lisbet, Sigrid and Hans Rausing – £9.49bn

  • Anil Agarwal – £9.2bn

  • Denise, John and Peter Coates – £8.64bn

  • John Fredriksen and family – £8.31bn

  • Christoph Henkel and family – £8.308bn

  • Mikhail Fridman – £8.22bn

  • Moshe Kantor – £8bn

Watch: How to save money on a low income