LONDON — The Sunday Times of London has published its annual rich list for the U.K., with the Weston family rocketing to number 3 in the rankings, compared with last year’s position at number 11.
Galen and George Weston and family saw their wealth increase by 3.7 billion pounds, or $5.62 billion, over the past year thanks to both acquisitions and growth across their trans-Atlantic businesses. The family’s holdings range from Canada’s Loblaw supermarket chain, to Selfridges in London to the publicly-quoted Associated British Foods, parent of Primark. Their total wealth is estimated to be 11 billion pounds, or $16.70 billion.
Among the newcomers to the list this year is Natalie Massenet, the founder and executive chairman of Net-a-Porter Group, which will merge with Yoox later this year. Massenet is one of about 35 people in the U.K. with an estimated net worth of 110 million pounds, or $167 million, thanks partly to the sale of her remaining shares to Net’s parent Compagnie Financiere Richemont. In terms of wealth, Massenent ranks alongside people including crooner Phil Collins, the Duke of Marlborough, Queen guitarist Brian May, and Rolling Stones drummer Charlie Watts.
All figures have been converted to the dollar at current exchange.
The Sunday Times also compiled a “fashion millionaires” ranking as part of its Rich List, and the Westons top that one, too. They are followed by twin brothers Sir David and Sir Frederick Barclay, owners of Shop Direct, The Telegraph Media Group, The Spectator magazine, and London’s Ritz hotel. Shop Direct is a multi-brand digital retailer that sells branded and own-label goods ranging from clothing to home products and electronics. Earlier this year they launched the fashion site VeryExclusive.co.uk, which stocks 100 brands, including Karl Lagerfeld, Calvin Klein and Diesel Black Gold. The brothers’ net worth is 6.5 billion pounds, or $9.87 billion.
Sir Philip and Lady Green are number 3 on the fashion millionaires list with a fortune of 3.5 billion pounds, or $5.31 billion, followed by Francois-Henri Pinault and his wife Salma Hayek at number 5, with wealth estimated to be 2.61 billion pounds, or $3.96 billion. Fashion investor Christina Ong, who owns Mulberry Group via her company Challice Ltd., ranks at No. 9, with a fortune estimated to be 850 million pounds, or $1.29 billion. Also on the fashion list are Hennes & Mauritz owner Tom Persson, at No. 11 with 624 million pounds, or $947.5 million; Tom Singh of high street retailer New Look, No. 14 with 530 million pounds, or $804.7 million, and Ray Kelvin, founder of men’s wear brand Ted Baker, No. 15, with 480 million pounds, or $728.8 million. Dame Margaret and Helen Barbour are at No. 18 with a fortune of 320 million, or $485.9 million.