
Dua Lipa is the youngest person on UK's under-40 rich list
With an estimated fortune of £115 million ($153 million), the Anglo-Albanian singer, whose album 'Radical Optimism' topped the British charts, ranks 34th in the 40 Under 40 category.
The Sunday Times Rich List, in its 37th year, includes also people who are not British citizens but who live and work in the UK.
Others to feature in the 40 Under 40 list are 'Harry Potter' actor Daniel Radcliffe and England footballer Harry Kane on £100 million each, just behind retired tennis player Andy Murray.
Singer Adele's fortune is estimated to be worth £170 million, while peers Harry Styles has £225 million and Ed Sheeran £370 million.
The overall Rich List is dominated by entrepreneurs, financiers, and property owners.
Gopi Hinduja and his family, who are behind the Indian conglomerate Hinduja Group, retained the title of Britain's richest, despite their wealth dropping to £35.3 billion from £37.2 billion.
The Sunday Times noted that the number of billionaires in the UK has fallen to 156 from 165, the biggest drop in the list's history.
The Labour government is tightening a loophole that allows people with 'non-dom' status, those who live in Britain but whose permanent domicile is abroad, to avoid UK tax on income earned outside the country.
'Our billionaire count is down and the combined wealth of those who feature in our research is falling,' said Robert Watts, compiler of the Rich List.
'We are also finding fewer of the world's super rich are coming to live in the UK.'
Also to feature on this year's list is Jim Ratcliffe, founder of petrochemicals group Ineos and minority owner of Manchester United football club.
He remains in the top ten with £17 billion, though his fortune has slumped around £6 billion in the past year owing to struggles at his company.
Paul McCartney is the sole billionaire musician in 151st place.
Elton John is worth £475 million, about 35 million more than Mick Jagger and Keith Richards of The Rolling Stones.
King Charles III's fortune reached £640 million, placing him in 238th place, tied with Britain's former Prime Minister Rishi Sunak and his wife Akshata Murty, who has benefited from Infosys, the tech giant founded by her father.
The combined wealth of the 350 entries stands at £772.8 billion -- down three percent on 2024. The list takes into account 'identifiable wealth -- such as land, property, racehorses, art or significant shares in publicly quoted companies', the paper noted.It excludes private bank accounts, which means an individual's wealth 'may be much larger' than stated, it added.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Biz Bahrain
3 days ago
- Biz Bahrain
The Business Year and British Chamber of Commerce Bahrain Sign Strategic MoU to Boost Bilateral Trade and Investment Opportunities
The Business Year and the British Chamber of Commerce Bahrain (BCCB) are proud to announce the signing of a Memorandum of Understanding (MoU), reinforcing their shared commitment to spotlight Bahrain's dynamic investment landscape and its strategic economic ties with the United Kingdom. The MoU was signed by Clara Corominas Rührup, Country Director of The Business Year in Bahrain, and Paula Boast, Vice Chair of the BCCB, as part of the editorial development of The Business Year: Bahrain 2025/26 – The Strategic Gateway for Global Business. This strategic partnership aims to promote Bahrain as a key gateway for British companies seeking expansion into the GCC, while also amplifying the Chamber's mission to strengthen bilateral business ties, support UK enterprises in the region, and showcase the contributions of its member companies to Bahrain's evolving economy. 'The British Chamber of Commerce Bahrain plays a vital role in shaping Bahrain's business environment and in deepening UK–GCC ties,' said Clara Corominas. 'We are proud to align with their mission and to bring international visibility to the success stories and sectors driving Bahrain's next phase of growth.' Paula Boast added, 'We are delighted to formalise this collaboration with The Business Year,' said Paula Boast, Vice Chair of BCCB. 'This MoU represents a valuable opportunity to highlight the strength and diversity of British business in Bahrain and to further strengthen the longstanding trade and investment relationship between our two nations. Through this partnership, we aim to amplify the voice of our members and promote the many opportunities Bahrain offers as a strategic hub for growth and innovation.' Through this partnership, The Business Year will feature exclusive interviews with key leaders from the BCCB's network and the wider business community, focusing on bilateral collaboration across finance, infrastructure, logistics, technology, education, and beyond. The Business Year: Bahrain 2025/26 is scheduled for release at the end of Q3 2025 and will serve as a comprehensive guide for investors, CEOs, policymakers, and international stakeholders seeking to understand the opportunities shaping Bahrain's role in the global business landscape.


Gulf Insider
3 days ago
- Gulf Insider
Swiss To Vote On 50% Inheritance Tax That Risks Exodus Of The Super-Rich
In a national referendum set for November, the people of Switzerland will vote on whether the country should impose a 50% inheritance tax on the wealthiest of people — under a regimen so harsh that not even surviving spouses would be spared from the rapacious confiscation. Naturally, this is triggering predictions of a mass-exodus of wealthy people, with opponents pointing to a wave of departures the United Kingdom has witnessed in the wake of its own recent wealth-seizure move. Under the proposal, a 50% federal tax would apply to inheritances and gifts above 50 million francs — about $63 million. The measure isn't supported by the legislative Federal Assembly nor the executive Federal Council. However, under Swiss law, public proposals must be put to a nationwide plebiscite if 100,000 supporting signatures are collected. The signature campaign was led by Switzerland's Young Socialists. Reliably sounding like an elementary school group project, under the Young Socialists proposal, the confiscated wealth would be thrown down a woke rathole, with all proceeds used to combat 'climate change.' While Swiss inheritance taxes at the cantonal level provide an inheritance tax exemption for transfers to spouses and direct descendants, the socialists' proposal for the 50% federal tax would not. Peter Spuhler, 66-year-old owner of steel giant Stadler Rail, decried the proposal as a pending 'disaster for Switzerland,' estimating the tax would seize upwards of 2 billion Swiss francs A popular vote for the new inheritance tax on Nov 30 could hammer Switzerland's long-held status as a premier tax haven for the world's wealthiest people. A consortium of opponents that includes centrists and conservatives is already working to dissuade Swiss voters from indulging any impulses to soak the rich. 'The brutal 50% inheritance tax threatens the existence of family businesses and causes high economic costs. It's a setback for everyone,' said the organization in a statement. In April, a new tax rule took effect in the UK, imposing a 40% inheritance tax on the global assets of 'non-doms,' a term that refers to residents of the UK who are considered under British law to have their permanent home — their domicile — in another country. Chancellor Rachel Reeves is already considering avenues by which the change can be undone, after it promptly triggered an exodus of wealthy people eyeing alternatives like the United Arab Emirates, Italy and, yes, Switzerland. Among those who are either considering departure from the UK or have already done so: Egypt's richest man, Nassef Sawiris, and Indian steel tycoon Lakshmi Mittal, who has lived in the UK for 30 years. Georgia Fotiou, a lawyer advising private clients at Zurich-based Staiger Law, says the proposal is already harming Switzerland's ability to benefit from the UK's own inheritance-tax folly. 'In terms of the chance for Switzerland to attract people leaving the UK, the damage has been done. The timing was terrible,' she told the Financial Times . 'It hasn't stopped everyone from coming but more have chosen Italy, Greece, the United Arab Emirates and elsewhere instead.' To become law, the proposal must clear two hurdles, garnering not only a majority of support nationwide, but also in a majority of Switzerland's 26 cantons. Despite the substantial likelihood of failure, the proposal already has some wealthy people on the move, say Swiss tax advisors and wealth managers. They caution that even a defeat — if it's by a relatively modest margin — could leave mega-wealthy individuals hesitant about the country. As Frédéric Rochat, managing partner of Geneva-based Lombard Odier, told the Times , 'It needs to be voted down with such an overwhelming majority [that this possibility can] be put to bed for 20 years.'


Daily Tribune
4 days ago
- Daily Tribune
Stocks climb as strong US jobs data pushes off rate hike
Stock markets rose and the dollar slid yesterday as strong jobs data showed the resilience of the US economy and reduced the likelihood of interest rate cuts. Investors were also keeping a close eye on President Donald Trump's bid to push through a tax-cutting budget and reach trade deals. London's stock market and the pound recovered, having taken a knock Wednesday on rumours that British finance minister Rachel Reeves faced losing her job. Oil prices fell, with OPEC and the cartel's crude-producing allies expected to announce a rise to output Sunday. Investors had been keenly awaiting the US government's monthly non-farm payrolls report, seen as one of the best data points on the health of companies and the labour market. Job growth came in at 147,000 last month, beating expectations, and rising from an upwardly revised 144,000 figure in May. 'The much stronger nonfarm payrolls data means a July rate cut is now no longer in consideration, which is music to stock market bulls' ears,' said City Index and FOREX. com analyst Fawad Razaqzada. Wall Street's main indices opened higher, the S&P 500 and Nasdaq Composite pushing up from record closes. 'But with the July 9 tariff deadline looming next week, can stocks retain their gains ahead of the long weekend?,' added Razaqzada. US markets are closed on Friday for US Independence Day celebrations, but negotiators from several nations are racing to reach trade deals with Washington ahead of the deadline imposed by Trump. Yesterday's jobs numbers comes one day after a smaller survey showed the US private sector unexpectedly shed jobs last month for the first time since March 2023. That suggested that the US economy was beginning to be hit by the uncertainty caused by Trump's trade war.