Richard Branson’s web price plunges as Brexit-backing James Dyson turns into richest Briton | City & Business | Finance

Brexit-backing inventor Sir James, 73, noticed his wealth enhance by £3.6billion over the previous yr to £16.2billion, in keeping with the Sunday Times Rich List.

But the coronavirus disaster has hit others arduous, together with Sir Richard, 69, whose corporations embody flights large Virgin Atlantic. As a results of lockdown, his fortune fell by £425million to £3.6billion.

Back in February it was anticipated that the variety of billionaires on the record would rise to 160 – however it fell by 4 to 147 as Covid-19 took maintain. And half the billionaires suffered losses, totalling £29billion.

They embody Jim Ratcliffe, 67, chairman of the Ineos chemical compounds group, whose private fortune fell by £6billion to £12.15billion.

Chelsea FC proprietor and businessman Roman Abramovich skilled a £1.07billion drop to £10.16billion. And metal magnate Lakshmi Mittal and his household have been down by £3.89billion, from £10.67billion.

In simply two months the pandemic wiped £54billion off the full owned by the 1,000 richest folks and their households resident within the UK. It is the primary time this has occurred for the reason that monetary crash of 2008/09.

This yr heavy trade, aviation and retail have been hardest hit. Losers embody easyJet founder Stelios Haji-Ioannou, who noticed his wealth drop £538million to £1.754billion, and the entrepreneur behind Jet2Holidays, Philip Meeson, who suffered a shares drop of £700million. His fortune now stands at £342million.

List compiler Robert Watts mentioned: “It paints an image of Britain on the point of calamity simply two months into the pandemic.

“You might not just like the super-rich, however our financial system will want the roles they create and the taxes they and their corporations pay if we’re to flee a chronic recession.”

Top 10: James Dyson (£16.2bn); Sri and Gopi Hinduja (£16bn); David and Simon Reuben (£16bn); Leonard Blavatnik (£15.78bn); Jim Ratcliffe (£12.15bn); Kirsten and Jorn Rausing (£12.1bn); Alisher Usmanov (£11.68bn); Guy, George and Galen JrWeston (£10.53bn); Charlene de Carvalho-Heineken and Michel de Carvalho (£10.3bn); The Duke of Westminster (£10.29bn).

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