The King’s personal fortune has shot up by £30m to put him on par with Rishi Sunak and his wife Akshata Murty, while the overall number of billionaires in the UK has plummeted, according to The Sunday Times Rich List.
The 2025 list, published on Friday, shows the King’s personal wealth grew from £610m to £640m, taking him up 20 places to 258 – level with former prime minister Mr Sunak and his wife.
The number of overall UK billionaires has fallen to 156 from 165 in 2024, marking the biggest drop since the rich list began 37 years ago.
Gopi Hinduja and his family, behind the Indian conglomerate Hinduja Group, topped the list for the fourth year running with £35.3bn.
Meanwhile, founder and chairman of global chemicals company Ineos Sir Jim Ratcliffe, who became part owner of Manchester United last year, dropped from fourth place to seventh after his reported wealth went from £23.5bn to £17.05bn.
Image: Sir Jim Ratcliffe. Pic: PA.
Sir Jim’s £6.47bn losses marked the biggest on the list, while Russian-born brothers Igor and Dmitry Bukhman, who built a fortune on mobile games such as Gardenscapes and Fishdom, made the biggest gains with nearly £6.2bn.
New entries included makeup mogul Charlotte Tilbury with £350m and Ellen DeGeneres, who left the US for the Cotswolds last year.
Image: Ellen DeGeneres with wife Portia de Rossi at Wimbledon. Pic: Reuters
The Sunday Times said the list was one of its toughest to compile due to Donald Trump’s tariffs and the subsequent stock market turbulence, adding many from previous years had dropped off the list and others were no longer eligible having fled Britain after Labour’s non-dom crackdown.
Overall, the combined wealth of those on the list stood at £772.8bn – down 3% from the last list.
Speaking to Anna Jones on Sky News Breakfast, Rich List compiler Rob Watts highlighted the story of Tom and Phil Beahon, who own sportswear clothing brand Castore which is now worth £1bn, as one of his favourites.
The brothers from Wirral have debuted at joint 345 on the list with an estimated wealth of £350m.
Calling their story “inspiring”, Mr Watts said: “They dreamed of being sportsmen as lads – one of them got onto the books of Tranmere Rovers and the other played cricket for Lancashire, but their sporting careers were over in their early 20s.
“And they say that failure was critical to driving them to create this £1bn sports kit business that you’ll now see being worn by the England cricket team and the England rugby team.”
Image: England cricketer Olly Stone wearing a kit manufactured by Castore. Pic: PA
The top 20:
1. Gopi Hinduja and family – £35.3bn
2. David and Simon Reuben and family – £26.87bn
3. Sir Leonard Blavatnik – £25.73bn
4. Sir James Dyson and family – £20.8bn
5. Idan Ofer – £20.12bn
6. Guy, George, Alannah and Galen Weston and family – £17.75bn
7. Sir Jim Ratcliffe – £17.05bn
8. Lakshmi Mittal and family – £15.44bn
9. John Fredriksen and family – £13.68bn
10. Igor and Dmitry Bukhman – £12.54bn
11. Kirsten and Jorn Rausing – £12.51bn
12. Michael Platt – £12.5bn
13. Charlene de Carvalho-Heineken and Michel de Carvalho – £10.09bn
14. Duke of Westminster and the Grosvenor family – £9.88bn
15. Lord Bamford and family – £9.45bn
16. Denise, John and Peter Coates – £9.44bn
17. Carrie and Francois Perrodo and family – £9.3bn
18. Barnaby and Merlin Swire and family – £9.25bn
19. Marit, Lisbet, Sigrid and Hans Rausing – £9.09bn
More people than ever are struggling to live on their current income – while just a third say they are living comfortably, according to new research.
Rising prices and sluggish pay increases have put many people’s finances under strain in recent years.
A record 26% now say making ends meet is difficult. Before the pandemic, it was 16%.
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Two-thirds also say their incomes haven’t kept up with inflation, according to the British Social Attitudes report.
That’s only marginally better than the 70% recorded during the height of the cost of living crisis in 2023.
Frozen tax thresholds also appear to be hitting home, with 61% saying taxes on low earners are too high, while 44% believe middle income earners also pay too much.
Those figures are up nine points and 13 points respectively since 2016.
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However, when it comes to the highest earners, 44% believe their taxes are too low.
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It found support for more spending on disability benefits is at a record low of 45%, down from 67% in 2017 – but only 11% think spending should be reduced.
About 29% of those polled think it’s “too easy” for people to get disability benefits – but the same percentage also feel it’s “too difficult”.
Meanwhile, long waiting times appear to have played a part in the finding that a record 59% are now dissatisfied with the NHS. In 2019, it was just 25%.
Only 21% said they were satisfied with the health service.
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The report is based on a representative, random sample of more than 4,000 people in the UK and was produced by the National Centre for Social Research.
It’s the longest-running measure of public opinion in Britain, having started in 1983.
Professor Sir John Curtice, senior research fellow, said: “The public are well aware of Britain’s problems – not least those of a failing health service and an economy in which many are struggling to make ends meet.
“Yet rather than turning their back on the state, for the most part, the public are still inclined to look to government to provide solutions.”
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Defence was also a key theme of the report – and researchers found about 40% of Britons support spending more money on weapons and troops.
A fifth (20%) said they would like to see a reduction.
Almost everyone surveyed (90%) considered Russia a serious threat to world peace, followed by Iran (78%), North Korea (77%), Israel (73%), and China (69%).
The percentage supporting more defence spending remains relatively unchanged since 2016, before Russia invaded Ukraine.
However, the share supporting an increase is significantly higher now than that in 2006 (28%) and in the 1990s (17%).
The government has not done enough to ensure all victims entitled to compensation from the Post Office scandal have applied for it, a report has found.
Many current and former postmasters affected by Horizon IT failings and associated miscarriages of justice are not yet receiving fair and timely compensation, according to the report by the Public Accounts Committee (PAC).
Only 21% of the 18,500 letters the Post Office sent to postmasters to make them aware of the Horizon Shortfall Scheme had been responded to, figures provided by the Department for Business and Trade (DBT) show. About 5,000 further letters are expected to be sent in 2025.
Under the scheme, current and former postmasters who were financially affected by the Horizon IT system, but who were either not convicted or did not take the Post Office to the High Court, can either settle their claim for a final fixed sum of £75,000 or have it fully assessed.
There is also the Horizon Convictions Redress Scheme (HCRS), which is for sub-postmasters who had their convictions quashed after the passing of the Post Office (Horizon System) Offences Act last year.
The 800 or so sub-postmasters who are eligible to claim under the HCRS are entitled to a £600,000 full and final settlement, or the option to pursue a full claim assessment.
By the end of March, 339 had accepted the settlement sum, the report by the PAC, which is made up of MPs from all sides of the House of Commons, found.
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But the PAC report states that the government has no plans to follow up with people who are, or may be, eligible to claim but are yet to apply.
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The committee recommends that the DBT should outline what more it will do to ensure every affected postmaster is fully aware of their options for claiming.
A third scheme provides compensation to sub-postmasters who were wrongly convicted of fraud, theft and false accounting.
Of the 111 sub-postmasters eligible to claim for the Overturned Convictions Scheme and who are either entitled to a £600,000 full and final settlement, or to pursue a full claim assessment, 25 have not yet submitted a claim, some of whom represent the most complex cases.
The DBT has taken over the management of the scheme from the Post Office, and the PAC report recommends that the department should outline how it plans to handle the remaining cases under the scheme.
Sir Geoffrey Clifton-Brown MP, chair of the PAC, said thousands of people were “deeply failed” by the system during “one of the UK’s worst ever miscarriages of justice”.
He added: “This committee would have hoped to have found government laser-focused on ensuring all those eligible were fully and fairly compensated for what happened.
“It is deeply dissatisfactory to find these schemes still moving far too slowly, with no government plans to track down the majority of potential claimants who may not yet be aware of their proper entitlements.
“It is entirely unacceptable that those affected by this scandal, some of whom have had to go through the courts to clear their names, are being forced to relitigate their cases a second time.”
For more than a year, we have been tracking the flow of sanctioned items out of the UK and towards Russia.
Electronic equipment, radar parts, components used to make aircraft and drones. These are all items that have been banned from going to Russia. For good reason: while Britain is far from a global manufacturing powerhouse, it nonetheless still makes certain prized components used to make machinery.
In some hands, these components could be used for peaceful purposes, but they could also be used to wage war. All of which is why they are among the items sanctioned by G7 nations and banned from entry to Russia.
A glance at the trade figures might lull you into thinking those sanctions have been extraordinarily successful. Look at the flows of these so-called “dual use” goods from the UK to Russia and they drop to zero shortly after the invasion of Ukraine and the imposition of those export bans. But that’s not the whole story – because over precisely the same period, exports of those same items to countries neighbouring Russia have risen sharply.
At this point, the data trail goes cold. As far as the statistics tell us, those components stay in the Caucasus and Central Asia. But there are two powerful pieces of evidence that suggest otherwise. The first is that we have travelled out to the border of Russia and filmed European-sanctioned goods (in this case cars, the hardest of all goods to disguise) passing across the border.
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The second is that Ukrainian forces have repeatedly found weaponry and equipment containing European and British components inside them on the battlefield in their country. British technology has been used to kill Ukrainians – in spite of sanctions. That was one of the messages President Volodymyr Zelenskyy relayed in his interview with my colleague Mark Austin.
So, in the wake of that interview, we revisited the databases to see if those flows of goods to Russian neighbours had slowed in recent months.
But, far from slowing, they’ve accelerated. In the past nine months, the flow of dual-use goods to Russian neighbours has risen by an average of 9%, compared with the monthly average between the Russian invasion of Ukraine in 2022 and last June. Those flows are 111% higher than they were before the invasion.
Nor are the flows of British goods to Russian neighbours the only trend suggesting these components are being trans-shipped via third countries. Look at exports of sanctioned items to the United Arab Emirates and Turkey and they are up by a similar proportion.
In short: the evasion of sanctions continues much as it has done since the beginning of the war. For all the talk about the toughest sanctions regime in history, the reality on the ground is somewhat different.