Stars such as Harry Styles, Adele and Dua Lipa sit among self-made entrepreneurs and aristocrats on The Sunday Times Young Rich List.
Top of the newspaper’s “35 richest people under 35” is the Duke of Westminster, Hugh Grosvenor – Prince George‘s godfather.
The 32-year-old inherited his title and 300 acres of land across London’s Belgravia and Mayfair at the age of 25.
His Grosvenor Group real estate portfolio, which extends throughout 43 cities and 10 countries, is worth £9.87bn.
Image: Hugh Grosvenor’s Grosvenor Group real estate portfolio is worth £9.87bn
Nine of the 38 (some of their fortunes are equal) on the list have their families to thank for their wealth – but the rest earned it themselves.
The original Sunday Times Rich List has also been released for 2023, revealing that Prime Minister Rishi Sunak and his wife Akshata Murty lost £500,000 a day last year – but are still worth an estimated £529m.
Top of the list for another year running is Gopi Hinduja and his family, who have seen their wealth increase £6.53bn to £35bn. It is the largest fortune ever recorded in the list and comes after the head of the family, 87-year-old Srichand Hinduja, died this week.
Popstars feature prominently on the Young List, with Ed Sheeran’s £300m fortune at seventh, followed by Adele at ninth with £156m.
Image: Ed Sheeran makes the cut with a £300m fortune. Pic: AP
Harry Styles is at joint 13th with £150m. His latest album Harry’s House was the best selling UK album of 2022. He is still on his 170-date Love On Tour, which will see him pocket a quarter of ticket sales.
Advertisement
His former One Direction bandmates Niall Horan and Louis Tomlinson feature lower down – both with £54m at 29th.
Singer Dua Lipa, who also models and stars in the recent Barbie film, appears 21st with an estimated worth of £75m at the age of 27.
She is joint youngest on the list, with gaming developer Daniel Knight (worth £50m) and AU Vodka founders Charlie Morgan (worth £55m) and Jackson Quinn (also worth £55m).
Image: Gareth Bale is the highest-earning footballer with £70m
Sterling richer than his captain
Golfer Rory McIlroy, 34, is the highest-earning sport star, valued at £200m, followed by boxer Anthony Joshua at £150m.
England football captain Harry Kane ranks 32nd with a fortune of £51m, lower down the list than his teammate Raheem Sterling who has £61m to his name.
Image: Raheem Sterling is said to have £61m to his name
According to the newspaper, former Wales captain Gareth Bale, who stepped down from the role after they were knocked out of the Qatar World Cup, is the highest-earning footballer with £70m.
Meanwhile, Harry Potter stars Daniel Radcliffe and Emma Watson rank 18th and 24th respectively.
Five went to same Worcestershire school
Among the lesser-known names is 30-year-old Ben Francis who founded the sportswear brand Gymshark.
As chief executive and co-founder, he has a 71% stake, reportedly worth £1.5bn – gaining him fourth position on the list with a net worth of £900m.
His co-founder and school friend Lewis Morgan is 11th on the list with £160m.
Image: Ben Francis has a net worth of £900m
Three of their peers from South Bromsgrove High School in Worcestershire also feature on the list.
Reiss and Kris Edgerton who founded a watch business instead of joining the army, and Reece Wabara a former under-20s England footballer who founded the fashion brand Maniere De Voir.
Joint twelfth is married couple Dan and Melanie Marsden.
They earned their £151m fortune with their Instagram lingerie brand Lounge Underwear. It prides itself on not airbrushing images and using a diverse range of models.
Schools need to be “brave enough” to talk about knives, Sky News has been told, as the killer of Sheffield teenager Harvey Willgoose is sentenced today.
His killer, who was also 15 and cannot be identified for legal reasons, had brought a 13cm hunting knife into school.
Image: Harvey Willgoose. Pic: Sophie Willgoose
Following Harvey’s murder, his parents Caroline and Mark Willgoose told Sky News they wanted to see knife arches in “all secondary schools and colleges”.
“It’s 100% a conversation, I think, that we need to be empowered and brave enough to have,” says Katie Crook, associate vice principal of Penistone Grammar School.
The school, which teaches 2,000 pupils, is just a few miles away from where Harvey was killed.
After being contacted by the Willgoose family, it has decided to install a knife arch.
More on Education
Related Topics:
The arch – essentially a walk-through metal detector – has been described as a “reassuring tool” and “real success” by school leaders.
“We’re really lucky here that we don’t have a knife crime problem – but we are on the forefront with safeguarding initiatives,” says Mrs Crook.
“I didn’t really think we needed one at first,” says Izzy, 14. “But then I guess at Harvey’s school they wouldn’t think that either and then it did actually happen.”
Joe, 15, says he did find the knife arch “intimidating” at first.
“But after using it a couple of times,” he says, “it’s just like walking through a doorway”.
“And it’s that extra layer of, like, you feel secure in school.”
After Harvey’s death, then home secretary Yvette Cooper said that she would support schools in the use of knife arches.
But there remains no official government policy or national guidance on their use.
Some headteachers who spoke with Sky News feel knife arches aren’t the answer – saying the issue required a societal approach.
Others said knife arches themselves were a significant expense to schools.
But Mrs Crook says they are “well worth the funding” if they prevent “a student making a catastrophic decision”.
“I’m a parent and, of course, my focus every day is keeping our students safe, just as I want my son to be kept safe in his setting and his school.”
Mrs Crook says she thinks schools would “welcome” a discussion at “national level” about the use of knife arches and other knife-related deterrents in schools.
“It’s sad, though that this is what it’s come to, that we’re having lockdown drills in the UK, in our school settings.
“But I suppose some might argue that has been needed for a long time.”
If you eat beef, and ever stop to wonder where and how it’s produced, Jonathan Chapman’s farm in the Chiltern Hills west of London is what you might imagine.
A small native herd, eating only the pasture beneath their hooves in a meadow fringed by beech trees, their leaves turning to match the copper coats of the Ruby Red Devons, selected for slaughter only after fattening naturally during a contented if short existence.
But this bucolic scene belies the turmoil in the beef market, where herds are shrinking, costs are rising, and even the promise of the highest prices in years, driven by the steepest price increase of any foodstuff, is not enough to tempt many farmers to invest.
For centuries, a symbolic staple of the British lunch table, beef now tells us a story about spiralling inflation and structural decline in agriculture.
Mr Chapman has been raising beef for just over a decade. A former champion eventing rider with a livery yard near Chalfont St Giles, the main challenge when he shifted his attention from horses to cows was that prices were too low.
“Ten years ago, the deadweight carcass price for beef was £3.60 a kilo. We might clear £60 a head of cattle,” he says. “The only way we could make the sums add up was to process and sell the meat ourselves.”
Processing a carcass doubles the revenue, from around £2,000 at today’s prices to £4,000. That insight saw his farm sprout a butchery and farm shop under the Native Beef brand. Today, they process two animals a week and sell or store every cut on site, from fillet to dripping.
More on Farming
Related Topics:
Today, farmgate prices are nearly double what they were in 2015 at £6.50 a kilo, down slightly from the April peak of almost £7, but still up around 25% in a year.
For consumers that has made paying more than £5 for a pack of mince the norm. For farmers, rising prices reflect rising costs, long-term trends, and structural changes to the subsidy regime since Brexit.
“Supply and demand is the short answer,” says Mr Chapman.
“Cow numbers have been falling roughly 3% a year for the last decade, probably in this country. Since Brexit, there is virtually no direct support for food in this country. Well over 50% of the beef supply would have come from the dairy herd, but that’s been reducing because farmers just couldn’t make money.”
Political, environmental and economic forces
Beef farmers also face the same costs of trading as every other business. The rise in employers’ national insurance and the minimum wage have increased labour costs, and energy prices remain above the long-term average.
Then there is the weather, the inescapable variable in agriculture that this year delivered a historically dry summer, leaving pastures dormant, reducing hay and silage yields and forcing up feed costs.
Native Beef is not immune to these forces. Mr Chapman has reduced his suckler herd from 110 to 90, culling older cows to reduce costs this winter. If repeated nationally, the full impact of that reduction will only be fully clear in three years’ time, when fewer calves will reach maturity for sale, potentially keeping prices high.
That lag demonstrates one of the challenges in bringing prices down.
Basic economics says high prices ought to provide an opportunity and prompt increased supply, but there is no quick fix. Calves take nine months to gestate and another 20 to 24 months to reach maturity, and without certainty about price, there is greater risk.
There is another long-term issue weighing on farmers of all kinds: inheritance tax. The ending of the exemption for agriculture, announced in the last budget and due to be imposed from next April, has undermined confidence.
Neil Shand of the National Beef Association cites farmers who are spending what available capital they have on expensive life insurance to protect their estates, rather than expanding their herds.
“The farmgate price is such that we should be in an environment that we should be in a great place to expand, there is a market there that wants the product,” he says. “But the inheritance tax challenge has made everyone terrified to invest in something that will be more heavily taxed in the future.”
While some of the issues are domestic, the UK is not alone.
Beef prices are rising in the US and Europe too, but that is small consolation to the consumer, and none at all to the cow.
“No one can listen to our calls?” a manager from Clarion, the UK’s largest housing association, asks one of her team on a recording that has been leaked to Sky News.
“Don’t tell anyone I told you this,” she goes on – before instructing him how to pretend he’s put up an important fire safety notice in one of their buildings.
“Just put it up on a plain bit of wall … take a picture,” she says, telling him that she’ll “come and find” him if it turns out she can’t trust him.
She brags about her management style. “I’m trying to help you hit your targets,” she says – adding: “My team is always on point, we always meet our targets.”
The recording will add to fears of residents of social housing that their safety is not taken seriously by landlords.
The conversation took place in 2022. It was reported to Clarion’s HR team in September 2023. However, an investigation only began in September 2024 when the recording was sent to Clarion management.
The manager involved was only sacked this summer – almost two years after it was first raised with Clarion.
More on Grenfell Tower
Related Topics:
A Clarion spokesperson told Sky News: “In 2023, our HR team received an email from a former employee raising concerns, but no supporting evidence was provided despite our request. When an audio recording was shared with us in September 2024, we immediately launched a full investigation, which led to the dismissal of a staff member.
“It is deeply regrettable that information was not shared sooner, as this would have enabled earlier action. Building safety remains our top priority across all Clarion homes.”
They added that their “investigation included interviews of all relevant team members to ensure this was an isolated incident”.
The fire safety notice being discussed in the recording was a poster advising residents who have disabilities or vulnerabilities to contact Clarion.
The need for a building owner to identify people who will need additional help in the event of a fire is part of compliance with new regulations introduced since the Grenfell Tower fire in 2017 killed 72 people.
Disabled and vulnerable residents must be identified so that a “person-centred fire risk assessment” can be drawn up by the fire brigade.
Those documents should then be stored in a box on the ground floor of high-rise buildings so firefighters can easily access them in an emergency.
Arnold Tarling, a chartered surveyor, says the consequence of the information not being available in the event of a fire could be “death or serious injury”.
However, he says he isn’t surprised by the recording we have obtained. He believes cutting corners on fire safety “will be industry-wide” for several reasons.
“Money saving, couldn’t care less, lessons haven’t been learned, ‘it won’t happen to me,'” he says, describing an attitude he says he encounters across the housing sector.
He believes there needs to be stricter enforcement but also says workers in the industry must be prepared to call out wrongdoing.
“The fire brigade, the building safety regulator, whoever it is, needs to check, do spot checks and enforce. But when you’ve got a file which has been faked, how do you know that it’s been faked? So these issues will just simply slip through and won’t get corrected,” he warns.
‘Those in power don’t care enough’
Edward Daffarn, who survived the Grenfell fire, told Sky News that complacency about fire safety “is actually a widespread problem that still prevails”.
“I stood underneath the burning carcass of Grenfell in the days after the fire and I was absolutely convinced that it would be the catalyst for societal change,” he said.
However, more than eight years on, a new competence and conduct standard for social housing is yet to come into force and will not be fully implemented for another three to four years.
“The only conclusion I can come to is that those in power, those people who have the power to make the change necessary, really don’t care enough about people that live in social housing,” Mr Daffarn claimed.
Housing campaigner Kwajo Tweneboa told Sky News: “I do worry about the fact that they are going to be in charge of housing thousands of more people up and down the country.
“They are also my landlords and it’s an absolute disgrace that five years into me campaigning, there’s still situations like this.”
A company spokesperson said: “Clarion continues to invest heavily in maintaining and improving our homes, and as a strategic partner of Homes England we are committed to playing our part in building safe, affordable homes that help tackle the housing crisis and give people a place they can call home.”
A Ministry of Housing, Communities and Local Government spokesperson said: “These allegations show a total disregard of vulnerable people whose lives and safety depend on strict fire safety laws.
“We are tackling the poor treatment of social housing tenants using lessons learned from the Grenfell Tower tragedy, so it can never happen again.
“Those breaking the law can already face prosecution for criminal offences including prison sentences and we’re introducing new laws so that residential personal emergency evacuation plans are required for all high-rise homes – with funding to help social landlords provide these for tenants – and ensure staff managing social housing have the skills and training to keep residents safe.”