Britain has more billionaires than ever before, 2017 Rich List reveals

Fred Story chief executive officer at Story Group at their premises on Burgh Road Industrial Estate Carlisle 21 November 2011 LOUISE PORTER

The richest people on the list are brothers Sri and Gopi Hinduja, who are investors in property, healthcare and oil and gas, and top the list with £16.2 billion, which is £3.2 billion more than the year before.

It also showed that 19 of the country's mega rich have seen their wealth grow in the past year by a billion pounds or more.

This year's rich list also includes a record 134 British billionaires, with 14 new ones emerging over the last year - a sign that Britain's wealthy "kept calm and carried on making billions" despite the uncertainties related to Brexit.

Having first topped the list in 2014, the Hinduja brothers, Srichand, 81, and Gopichand, 77, have a vast array of business investments under the Hinduja Group.

Another set of India-born billionaire brothers, David and Simon Reuben, who had topped the list past year have moved down to third place with steel tycoon Lakshmi N Mittal at fourth. Ukrainian businessman Len Blavatnik is in second place (the Hinduja brothers's position till 2016). Mr Watts credited a revived stock market for the super-rich's surge in wealth.

'We expected to see a chilling effect in the run-up to the European Union referendum, but that simply did not materialise.

Mr Story, the man behind Story Homes and story Contracting, sits at number 748 in the list with a recorded fortune of £150m.

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The Sunday Times Rich List, published yesterday, reveals co-founder of Hargreaves Lansdown Peter Hargreaves is ranked 51 among the UK's wealthiest 1,000 people.

2 billion pound hike in their fortunes over the previous year.

Among the 58 newcomers - a minimum of 110 million pounds is now required to make the list compared to just 15 million in 1997 - are famous names including chart topper Adele.

NRI industrialist Lord Swraj Paul's business marked an £80-million dip over a year ago, moving him down to the 194th slot, with an estimated wealth of £660 million.

"We're seeing more and more diversity in the composition of the Rich List".

The figure in 2016 was 103 million pounds.

The list does not count the totality of the income and assets from the Crown Estate - the collection of lands and holdings belonging to the monarch but controlled by an independent board - whose property portfolio alone is now worth £12 billion.

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