The Billionaires: New Brits make it with food
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Your support makes all the difference.A declining number of Britain's billionaires amassed their wealth through inheritance, Jojo Moyes reports. The majority have made their fortunes via food retailing - unlike their American counterparts, most of whom have reached dollar billionaire status with a different kind of chip.
Rapidly fluctuating share prices aside, Britain has approximately 24 dollar billionaires, the death of one of the most flamboyant, Sir James Goldsmith, having deprived it of the 25th earlier this year.
According to the Sunday Times Rich List, compiled every year by Philip Beresford, Britain's richest individual is Joe Lewis, 60, a former restaurateur who has become king of the currency markets. Born in his father's pub in the East End of London, Mr Lewis now lives in the Bahamas, where he is estimated to have amassed $4.7 bn (pounds 3bn).
In second place is Hans Rausing, worth an approximate $4.6bn (pounds 2.95bn), who made his fortune from selling a half share in the Tetra Laval packaging group - best known for its orange juice and milk cartons. He moved to Britain from Switzerland in the 1980s.
Perhaps better known is supermarket magnate David Sainsbury, who with his family comes equal third with an estimated $3.9bn (pounds 2.5bn) fortune. He ties with another food provider, Garfield Weston, who with his family holds 62 per cent of Associated British Foods, best known for products such as Wagon Wheels.
Equal fifth with $2.67bn (pounds 1.7bn) is Richard Branson, whose Virgin group now encompasses pensions, airlines, cinemas and cola, as well as bridal outfits, rail franchises, cosmetics and the Internet.
He ties with Sir Adrian and John Swire, who between them control John Swire and Sons, one of the most famous and long-standing companies in Hong Kong; and the Duke of Westminster, best known for his "golden acres" in London's Mayfair, and for his friendship with Prince Charles.
Next in line are the $1.88bn (pounds 1.2bn) fortunes made by Joe and Sir Anthony Bamford, mainly through their ownership of the JCB group of excavators and construction equipment.
They are followed by steel magnates Lakshmi and Usha Mittal, joint directors of Ispat International, with an estimated fortune of $2.3bn (pounds 1.5bn). Usha Mittal is now listed as Britain's richest woman, the couple having moved to the United Kingdom in 1995.
Viscount Rothermere, Britain's last hereditary press baron, is one of the declining few with inherited wealth - estimated fortune $1.88bn (pounds 1.2bn) - although this has increased markedly under his stewardship. Sri and Gopi Hinduja have, more spectacularly, turned a pounds 4m legacy into a $1.73bn (pounds 1.1bn) fortune with their Hinduja Group.
They are followed by Bruno Schroder, who with his family boasts a $1.65bn (pounds 1.05bn) fortune, and Lady Grantchester, whose Moores family have maintained a $1.57bn (pounds 1bn) fortune from stores, mail order and football pools. She, and Chryss Goulandris, a Greek shipping heiress married to Heinz chief executive Tony O'Reilly, are listed as joint second richest women in Britain.
Another of Britain's dollar billionaires is Mohamed Al-Fayed, the Egyptian born owner of Harrods, whose wealth is estimated at $1.57bn (pounds 1bn). The others are Robert Miller, joint founder of the Duty FreeShoppers Chain, Terry Matthews, the first Welsh dollar billionaire, David Bromilow, an accountant who made his fortune from publishing and sports goods, and Robert Earl, who has amassed his wealth through catering.
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