KEY POINTS:
The Duke of Westminster remains the wealthiest property man in Britain, despite the rise of self-made billionaires. The Duke, who owns large tracts of central London, including Mayfair and Belgravia, as well as estates in Lancashire, Cheshire, Scotland, Canada and around the world, was estimated to be worth £7 billion ($19.14 billion), up from £6.6 billion last year, according to the Estates Gazette's latest Rich List.
The figures, compiled by Philip Beresford, who also produces the Sunday Times Rich List, confirmed the status of property as the biggest contributor to wealth in the country. The 500 wealthiest property players in the UK and Ireland amassed a combined net worth of £117 billion. The average fortune for this year's leading 500 players in property investment, development and related areas such as estate agency, was just over £230 million each - about 15 per cent higher than the £200 million average for last year's 400 entrants.
In second place was self-made billionaire brothers David and Simon Reuben, with an estimated fortune of £3.5 billion, built up from retirement homes and racecourses.
Third was Irish entrepreneur Sean Quinn, whose investments in hotels, pubs and wind farms, have helped him amass a fortune of £3 billion; and fastest risers were the Livingstone brothers, on £1.8 billion.
- Reuters
