In its annual list, Insider has named the 100 richest people in the Midlands, with business leaders in and around Birmingham featuring prominently on the latest list.
But none of the richest people in our city - and in Sandwell and Solihull - have made it into the top 10 for the whole of the region - with our most wealthy business leaders now ranking as multi-millionaires, rather than billionaires - with Ben Francis and Lord Edmiston, both of Solihull, losing their billionaire status.
However Birmingham is home to two new arrivals in the wealth stakes, with the 2023 listing released in November, with John Kelly and family and their gaming company making it onto the listing for the first time, alongside Philip Stephenson and family and their Logistics company Davies Turner. There are a number of the most wealthy in the city that have seen their fortunes rise and you can see the full list of Birmingham’s top ten wealthiest people below.
In unveiling their latest Midlands Rich List, Insider has told how many of their ‘Rich List regulars’ have seen their businesses struggle over the last year - with some dropping out of their wealth rankings.
Across the Midlands the most high-profile departure is the Wilkinson family from Leicester. Their high street retailer Wilko slid into administration in August and a run of dividends taken by the discounting dynasty were not sufficient to meet the £110m entry level for this year’s Rich List.
The combined wealth of the 100 entries across the Midlands this year has still grown to just under £53bn. But that rise represents a 5.4 per cent increase – well below the prevailing rate of inflation and increases of recent years.
Here are the ten richest multi-millionaires in and around Birmingham:
1. Ben Francis - Gymshark - worth £925m (Midlands ranking 11)
Francis founded Gymshark and holds a stake now worth £900m after lower profits for the Solihull based-athleisure brand. He has lost his billionaire status with his wealth decreasing by £150m.
2. Lord Edmiston - IMI - £871m - (12)
Entrepreneur Lord Edmiston has also lost his billionaire status with profits falling at his car import business based in Solihull with his wealth decreasing by £229m. Here's a groundbreaking ceremony as the IMI Group builds their new HQ in 2018.
3. Sir Peter, James and Steve Rigby - Rigby SCC - £867m (13)
The Rigbys’ Birmingham-based conglomerate has interests spanning IT, finance, hotels and property with Coventry’s airport just one of five in their collection. Their wealth has increased by £63 million in the last year. Here's a picture of Sir Peter Rigby.
4. Ranjit and Baljinder Boparan - 2 Sisters - £702m (15)
Headquartered on Colmore Row in Birmingham city centre, the 2 Sisters food manufacturing business renowned for its meat products, has seen its wealth rise by 19m.