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TOPIC: Britain has more billionaires per head of population than any other country

Britain has more billionaires per head of population than any other country 12 May 2014 13:32 #1

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London (AFP) – London has more billionaires than any other city in the world, and Britain has more billionaires per head of population than any other country, new data showed on Saturday.

The survey of Britain’s super-rich compiled for the Sunday Times newspaper is likely to prompt debate in a country where many still struggle financially and where food banks are a fact of life, despite economic growth recently returning to levels not seen since the 2008 financial crash.

London is home to 72 of Britain’s 104 sterling billionaires, well ahead of Moscow in second place with 48 people worth the equivalent of 1 billion pounds or more. New York is in third place with 43 billionaires, San Francisco in fourth place with 42, Los Angeles next with 38 and Hong Kong in sixth place with 34.

Indian-born brothers Sri and Gopi Hinduja top the British list with a fortune of 11.9 billion pounds (14.6 billion euros, $20.1 billion), amassed through the family-owned Hinduja Group, which has interests in oil, banking, the automotive industry, property and the media.

The pair nudged last year’s top of the billionaire list, Alisher Usmanov, to second place. The Uzbekistan-born Russian’s fortune has been hit by the fall in value of the rouble and Russian stock prices due to the Ukraine crisis.

Others in the top 25 include Ukrainian-born internet, chemicals and music industry investor Len Blavatnik in fourth place, property magnate the Duke of Westminster, Gerald Grosvenor, in tenth place, and Saudi-born Mohamed Bin Issa Al Jaber and his family, known for their hotel and resort investments, in thirteenth place.

This year is the first year the minimum wealth of Britain’s 50 richest people has topped 1.5 billion pounds. Only 700 million pounds was needed to join the exclusive club a decade ago.

Britain’s 104 billionaires have a total wealth of 301.13 billion pounds, compared to 88 a year ago with a combined worth of 245.66 billion pounds.

The combined wealth of Britain’s super-rich is now well ahead of pre-recession levels of 2008, which then totalled 201.99 billion pounds.

On Friday independent thinktank the National Institute of Economic and Social Research said British per-capita gross domestic product – often used to indicate a population’s average wealth – was “well below” the pre-2008 peak, and unlikely to exceed it before 2017.

The Trussell Trust, Britain’s largest food bank network, said the number of people that had approached them for emergency food had risen 163 percent in the year to the end of March to just over 913,000 people.

The group labelled the figure “shocking”, particularly as it does not include those helped by other food providers or the large number of people too ashamed to seek help and who cope by eating less food.

news.yahoo.com/london-tops-super-rich-city-list-survey-shows-225059524.html;_ylt=AwrSyCU61G5T6TYAXkjQtDMD
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Britain has more billionaires per head of population than any other country 12 May 2014 18:05 #2

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Have you any idea how many foreign nationals live in the Greater London Area specifically inner London?
UK has 'worst quality of life in Europe'
Survey of 10 developed European countries puts UK at bottom of the pile due to high costs of living, while France takes top spot

The UK has been named the worst place to live in Europe for quality of life, behind countries with damaged economies such as Ireland and Italy, according to the latest uSwitch quality of life index.

Source

"Whenever you're in conflict with someone, there is one factor that can make the difference between damaging your relationship and deepening it. That factor is attitude." William James
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Britain has more billionaires per head of population than any other country 13 May 2014 00:05 #3

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This is Britain today - you may struggle a wee bit with the Scottish accent. :chuckle:

"Whenever you're in conflict with someone, there is one factor that can make the difference between damaging your relationship and deepening it. That factor is attitude." William James
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Britain has more billionaires per head of population than any other country 13 May 2014 04:58 #4

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How many billionaires are actually British born? Is a breakdown given of British born and non-British born?

London became a magnet for the uber rich when Gulf princes sitting on oil wells started to take over Knightsbridge and Belgravia in the 1970s and 1980s. Even when Al Fayed owned Harrods I would have thought the biggest spending group at the store would have been Gulf Arabs. The store is now owned by the Qatari Royal Family.

Then when the Russian Oligarchs started to churn out the billions from the utilities, resources and other base industries that Yeltsin sold to them in the post-Glasnost fire sale, they, too, came to London en masse. Abramovich et al.

More came when Putin had Khorovsky imprisoned, and made it known that the largely Jewish Oligarchs would not be able to threaten him politically.

Then there are the Indian gazillionaires that have arrived there too. London overtook New York as the global equity market of choice because of highly restrictive corporate governance and other legislation (Sarbane-Oxley ??) imposed in the States after the blatant corruption exposed within WorldCom, Exxon etc ...

It is really evident that Chelsea, Knightsbridge, Belgravia, Kensington etc has become even more of a magnet for the world's uber rich ... but many of them still don't seem to be British born.

That was one thing that really struck from the UK, was that there weren't that many very wealthy home grown entrepreneurs. Is the wealthiest acknowledged British born still the Duke of Westminster?? Who because of birth is handed huge swathes of property in Central London and elsewhere. Or Lord Cadogan, who by all accounts is a complete c*nt and whose family still owns and controls vast swathes of top end residential property in South Kensington, Sloane Square and Chelsea?

They are top of the tree aristocrats who no doubt are very cushy with the Royals.

Yet vast areas of London are still incredibly socially deprived, with Tower Hamlets being one of the worse areas in the entire EU.

London still has an archaic clapped out Tube system. It has got better, but it still has issues. IT is a city of huge disparity and contradictions.
Last Edit: 13 May 2014 05:00 by Orangeaid.
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