British billionaires have seen their wealth soar by greater than a fifth through the pandemic, in keeping with the newest Sunday Instances Wealthy Checklist.
Inequality consultants warned of a “harmful hole” between the richest and poorest in society because the variety of billionaires within the UK rose to a brand new excessive of 171.
Whereas the economic system shrunk at its quickest tempo in three centuries, and tens of millions of individuals had been placed on taxpayer-funded furlough, the variety of billionaires jumped 24 per cent, and their mixed wealth elevated 22 per cent.
The group now has property of £597.2bn, up £106.5bn on a 12 months in the past, The Sunday Instances calculated.
George Dibb, head of the Centre for Financial Justice on the IPPR assume tank, mentioned the record supplied additional proof that the “underlying construction of our economic system has continued to funnel wealth and energy to the richest in society”.
“If we’re going to get the entire economic system into restoration, and go away nobody and nowhere behind, we have to change this,” he mentioned.
“Societies which can be so unequal are unhealthy for everybody, and policymakers want to handle this harmful hole or danger individuals dropping belief in our economic system and democracy.”
He referred to as for an pressing strengthening of the social security web and extra funding within the NHS.
Ukrainian-born Sir Leonard Blavatnik topped the record for the primary time with a fortune of £23bn.
Mr Blavatnik has curiosity in a spread of companies together with Warner Music, which listed within the US final 12 months permitting him to promote a £1.37bn stake.
Sir James Dyson slipped again from first to fourth within the record after his wealth elevated by £100m to £16.3bn.
Property buyers and outstanding Conservative Get together donors David and Simon Reuben rose to second place after their wealth elevated by £5.5bn to £21.5bn.
Robert Watts, compiler of the wealthy record, mentioned: “The worldwide pandemic created profitable alternatives for a lot of on-line retailers, social networking apps and pc video games tycoons.
“The actual fact most of the super-rich grew a lot wealthier at a time when hundreds of us have buried family members and tens of millions of us fearful for our livelihoods makes this a really unsettling growth.”
The annual index of the nation’s wealthiest residents confirmed that oil and media investor Mr Blavatnik noticed his fortune surge by £7.2bn to round £23bn through the pandemic-hit 12 months.
These are the ten richest individuals within the nation, in keeping with the wealthy record:
Sir Leonard Blavatnik – £23bn
David and Simon Reuben – £21.46bn
Sri and Gopi Hinduja and household – £17bn
Sir James Dyson and household – £16.3bn
Lakshmi Mittal and household – £14.68bn
Alisher Usmanov – £13.4bn
Kirsten and Jorn Rausing – £13bn
Roman Abramovich – £12.1bn
Charlene de Carvalho-Heineken and Michel de Carvalho – £12.01bn
Man, George, Alannah and Galen Weston and household – £11bn
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