London has become the hottest destination for ultra-high-net-worth individuals (UHNWIs), with more than 80 billionaires currently living in the city. In fact, there are more billionaires in London than in any city in the world, and more than 80% of all billionaires in the United Kingdom live in London. The city’s billionaires have a combined wealth of $497.6 billion and account for 59% of the total value of the U.K.’s top 1,000 wealthiest people.
By comparison, New York, the city with the second most billionaires, has a total of 56, while Paris comes in at third with 21 billionaires. San Francisco, Moscow, Hong Kong, and Los Angeles each have between 40 and 50 billionaires.
- Home to over 80 billionaires, London, England, boasts the world’s largest concentration of ultra-high-net-worth individuals in a single city.
- As a world financial, cultural, and commercial hub, the city has attracted entrepreneurs and investors from several industry sectors.
- Here we profile just a handful of London’s wealthy elite.
1. Len Blavatnik
Len Blavatnik is the owner of Access Industries, a diversified portfolio of assets that consists of commodities, technology, and media startups. Blavatnik was born in Ukraine and raised in Moscow before emigrating to the United States. He kept an interest in Russia and made some great investments in post-Soviet aluminum and energy companies. His biggest success came in 2013 when he sold a 12.5% stake in the Russian oil company TNK-BP to Rosneft for $7 billion.
In 2015, Blavatnik purchased U.K.-based media and sports analytics company Perform for more than $1 billion. Since then, he has kept a residence in the U.K. His current net worth is $18.8 billion.
2. Sri and Gopi Hinduja
Sri and Gopi Hinduja are two of the four brothers who own the Hinduja Group, a multinational conglomerate. The company operates as an investment business with holdings that include banking, transportation, energy, technology, and media.
The company was started by the siblings’ father, Parmanand Deepchand Hinduja, who traded goods in what is now Pakistan. He moved the company’s headquarters to Iran in 1919, where the business stayed until his sons moved its headquarters to London. Currently, the business is co-chaired by Sri and Gopi, both of whom live in London. The combined net worth of the siblings is $15.4 billion.
3. Galen Weston
Galen Weston is the executive chairman of George Weston, a Canadian food and retail giant that was founded by his grandfather in 1882. Weston found early success by running the company’s grocery stores in Ireland and was given the task to turn around the struggling supermarket chain Loblaws, which was owned by his father. He was able to save the business and maintains ownership today through his son, who currently oversees the company.
Weston also has majority control of Selfridges Group, a holding company that owns department stores Ogilvy’s, Holt Renfrew, Brown Thomas and Selfridges. He and his wife have a current net worth of $9.6 billion.
4. Mark Scheinberg
Mark Scheinberg is a self-made billionaire who made his fortune in online poker. He helped build PokerStars, the world’s biggest online poker company. The business was founded in 2001 and was first operated out of Costa Rica before moving operations to the Isle of Man. Scheinberg’s parent company, Rational Group, also owned Full Tilt Poker and was sold to Amaya in 2014 for $4.9 billion.
Scheinberg was the largest shareholder of Rational Group and benefited from the rise in the popularity of poker in the U.S. He has a current net worth of $4.1 billion and is the 46th richest man in tech.
5. Teddy Sagi
Teddy Sagi is an Israeli billionaire who has lived in London for many years. He founded the gambling software company Playtech in 1999 and has helped build it into a business with $500 million in annual sales. The company trades on the London Stock Exchange and has a multibillion-dollar valuation.
In addition to Playtech, Sagi has taken three other companies public: Market Tech, SafeCharge, and Crossrider are all traded on the London Stock Exchange. He has a current net worth of $3.5 billion.
6. Sir Richard Branson
Sir Richard Branson is arguably the U.K.’s most well-known entrepreneur. A London native, Branson is the founder and CEO of the Virgin Group, a conglomerate of companies that includes Virgin Mobile, Virgin Airways and Virgin Megastores.
The Virgin Group started out as a record company and achieved success through the signing of big-name artists such as The Rolling Stones. Branson used the money earned from Virgin Records to start various companies in different industries, the most well-known being Virgin Airways.
Branson is known for his eccentric personality and his need for thrills as much as he is known for his massive wealth. Along with his wealth and extravagant lifestyle, he is an amazing philanthropist, donating hundreds of millions of dollars to multiple charities and causes. Branson has a net worth of $4.6 billion.
7. James Dyson
Perhaps the United Kingdom’s second most-well-known entrepreneur, James Dyson is an engineer and inventor who achieved success through the vacuum cleaner company that bears his name. Through this company, Dyson has pioneered innovative creations such as the Dual Cyclone and Dyson Ball vacuum cleaners.
Since his first vacuum cleaner design, Dyson has expanded his business to include the bladeless fan and the HEPA-filtered hand dryers found in restaurants and airports. Considering himself more of an engineer than an entrepreneur, Dyson is the wealthiest engineer in the U.K. He has a net worth of $4.5 billion.
8. David and Simon Reuben
David and Simon Reuben are self-made billionaires from several diversified industries, and come in as the wealthiest entrepreneurs in the U.K. The two brothers were actually born in India in abject poverty before immigrating to London in 1950. The move sparked an entrepreneurial spirit in the brothers, with each of them starting businesses independent of each other.
David started out in the scrap metal business while his brother Simon bought out England’s oldest carpet company. They both used the money earned from these individual ventures to invest together in property and other raw materials businesses. Thanks to savvy business sense and solid investment strategies, the brothers have a combined net worth of $5.53 billion.