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Sunak debuts in rich list as Povlsen holds top Scots spot

Rishi Sunak makes debut while Povlsen retains his position

Rishi Sunak, the Chancellor, has become the first frontline politician to appear in the annual Rich List as he faces calls to ease the cost of living crisis pushing millions Britons into fuel and food poverty.

Mr Sunak worked for Goldman Sachs and a hedge fund run by Sir Chris Hohn before becoming an MP in 2015 but the bulk of his wealth comes from his wife Akshata Murty and her £690 million stake in IT giant Infosys.

The couple’s wealth is estimated at £730 million, placing the pair at 222 in the ranking.

Danish businessman and landowner Anders Holch Povlsen, with a £6.5 billion fortune, retains his position as the richest person in Scotland.

His fortune of £6.5 billion, up £500 million, accounts for a quarter of the £23bn combined wealth of the country’s 10 billionaires and keeps him in top spot for the third successive year.

He is Scotland’s largest landowner with more than 220,000 acres in the Highlands, and owns the Danish fashion retailer Bestseller as well as the former Jenners building in Edinburgh. He holds a stake of around 25% in the British online fashion retailer Asos.

Greenock brothers Sandy and James Easdale, former directors of Rangers football club, are the wealthiest newcomers to the Scottish Rich List, with a £1.4bn fortune based on transport and property acquisitions.

Monaco-based Jim McColl, head of East-Kilbride based engineer Clyde Blowers, and former owner of controversial ferries firm Ferguson Marine, is worth £996m.

Ranked 12th in Scotland, worth £850m, is Harry Potter author and Edinburgh resident Joanne Rowling, who has added £30m to her personal fortune since 2021.

Bristol-born Rowling, 56, continues to make large charitable donations, including £6.7m last year from her Volant Trust.

There is still no mention in the list of ‘billionaire’ couple Lady Michelle Mone and Doug Barrowman.

The data appears in the latest edition of The Sunday Times Rich List which shows how Britain’s wealthy got wealthier during lockdown. It features a record 177 billionaires in the UK, six more than last year. Their combined wealth is £653bn, which is 9.4% up on the £55.8bn in 2021. 

Robert Watts, the compiler of The Sunday Times Rich List, said: “Scotland’s richest people have fared less well than those elsewhere in the UK, with half of this year’s 10 Scottish billionaires seeing their fortunes fall over the past year. The combined wealth of the country’s 10 billionaires is still up, at nearly 2% on 2021.”

Wealthiest people in Scotland

ScotlandRank NameSource of Wealth2022 WealthWealth increase/ decrease
1Anders Holch PovlsenFashion: Bestseller and Asos£6.5bnUp £500m
2Glenn Gordon and familySpirits: William Grant & Sons£3.395Down £200m
3Kiran Mazumdar-Shaw and John Shaw and familyPharmaceuticals: Biocon£2.496bnDown £446m
4Sir Ian Wood and familyOil services and fishing£1.819bnNo change
5Mohamed Al Fayed and familyRetailing: Harrods£1.699bnDown £1m
6Mahdi al-TajirMetals, oil, and water: Highland Spring£1.685bnDown £2m
7The Thomson familyMedia: D C Thomson£1.585bnUp £314m
8Sandy and James EasdaleTransport and property£1.363bn New entry
9Lady Philomena Clark and familyCar sales: Arnold Clark£1.267bnUp £126m
10Trond Mohn and Marit Mohn Westlake and familyIndustry£1.245mDown £14m

Top UK rich

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