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Rachel Reeves’ billionaire exodus sees major UK rich list shake up | UK | News

The UK’s richest individuals have seen their fortunes reshuffled after a dramatic year for Britain’s super-rich, with the Sunday Times Rich List 2025 revealing a record fall in the number of billionaires. The annual ranking shows Britain has lost more billionaires over the past 12 months than at any time since the list began, amid falling asset values, market uncertainty and growing concern over tax changes introduced under Labour.

Several wealthy individuals have dropped off the list altogether, while others are no longer classed as UK-based after relocating overseas, according to the Times. Chancellor Rachel Reeves‘ decision to abolish non-domiciled tax status has been cited as a key factor behind the exodus, with critics warning the reforms are prompting both overseas investors and British entrepreneurs to reconsider their ties to the UK.

Here are the six richest people in the UK, according to the latest Rich List.

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6. Guy, George, Alannah and Galen Weston and family

The Weston family rank sixth on the list with an estimated fortune of £17.7billion. The Weston family is a powerful business dynasty with roots in Canada, dating back to the late 19th century when George Weston built a bakery business into a major food and retail empire. Over time, the family expanded internationally, establishing major interests across the UK, Ireland and North America.

In Britain, the family’s holdings are controlled through Wittington Investments, which owns Primark’s parent company, Associated British Foods, as well as high-end retailers Fortnum & Mason and Heal’s.

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5. Idan Ofer

Idan Ofer is the fifth richest individual with a fortune of about £20.1billion. 

Idan Ofer is an Israeli billionaire businessman, born in 1955, known for his investments in shipping, energy, mining, and sports.

He owns stakes in major companies like Israel Corporation, an 85% stake of FC Famalicão and owns a 30% stake in Atlético Madrid.

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4. Sir James Dyson and family

With a fortune of 20.8billion, Sir James Dyson and family are the fourth richest in the UK. Best known for inventing the bagless vacuum cleaner and for creating the iconic Dyson Airwrap, the company has a diversified portfolio including 36,000 acres of farmland supplying major retailers.

Last year, Dyson cut 1,000 UK jobs but continues to expand globally, remaining relatively unaffected by tariffs compared to competitors, the Times reported. 

(Image: Getty)

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