Multiple UK billionaires and millionaires have their origins in Birmingham and the West Midlands. Some are continuing a legacy while others are new entrepreneurs - who made it big. Here a look at the wealthiest 1% of the West Midlands in 2023, according to the new Sunday Times Rich List.
This year’s listing shows that from gambling to retail to IT to property development - the richest people from our region come from varied backgrounds. The highest ranking of any local billionaire on the national listing is at number 16 - so none of the richest in Birmingham and the West Midlands made it into the UK top 10.
The people topping the Sunday Times Rich List 2023 for the whole of the UK are Gopi Hinduja and family who have a net worth of £35bn. Indian-born Gopi is at the head of the family conglomerate with businesses spanning manufacturing, finance, energy and IT. They topped the list in 2022 as well and are based in London.
Sir Jim Ratcliffe is the second richest in the UK with a net worth of £29.688 bn. Raised on a council-estate in Manchester, this self-made billionaire owns is the chairman and chief executive officer of the INEOS chemicals group. He owns several properties including a sprawling estate in Hampshire’s New Forest National Park and in Monaco.
Here are the 11 richest people in Birmingham and the West Midlands, according to the Sunday Times:
1. Denise, John and Peter Coates and family (Rank 16 overall)
bet365 founders Denise, John and Peter Coates were ranked 17 in 2022 and are 16th richest in the UK in 2023. They gained £158m in the past year and their net worth is £8.795bn now. (Photo by Sean Dempsey - WPA Pool/Getty Images) Photo: WPA Pool
2. Lord Bamford and family (overall 32)
Lord Bamford and family went up several places from 42 to 32. They are worth £5.9bn now and gained £1.58bn in the past year. They are the owners of West Midlands origin company JCB. (Photo by Luke Walker/Getty Images for Starlight Children’s Foundation)
3. Mike Ashley (Overall rank 49)
Mike Ashley’s rank on the Sunday Times Rich list went up several places from 59 to 49. The Walsall-born chief executive of Frasers Group Plc has a net worth of £3.84bn now after an increase of £845m. (Photo by Jeff Spicer/Getty Images for Sports Direct)
4. John Bloor (Overall rank 54)
Housebuilder and former plasterer, John Bloor, who also got the Triumph Motorcycles brand back on the road, this year celebrates his 80th birthday with a fortune of £3.488 billion. His wealth rank went up to 54 from 85 in 2022.(Photo by CHARLY TRIBALLEAU/AFP via Getty Images)