Branson, Adele, Rooney on the Rich List

Convershaken Staff
April 24, 2016

Virgin Group co-founder Sir Richard Branson, inventor Sir James Dyson, and Roman Abramovich - owner of Chelsea Football Club - all nabbed spots in the top 25 of The Sunday Times Rich List for 2016. But a shaky macroeconomic backdrop and plunging commodity prices have weighed on the wealth of several of Britain's billionaires. 

Abramovich, a Russian business tycoon who made his fortune in energy and commodities, slid three spots to 13th place as his fortune shrunk from £7.29bn to £6.4bn. Similarly, Laskmi Mittal's estimated net worth shrunk by more than a fifth to £7.12bn, meaning the owner of steel behemoth ArcelorMittal dropped from 7th to 11th place. In 2008, he topped the list with £27.7bn. We recently wrote about the economics of China's 'dumping' of cheap foreign steel, after it forced Tata Steel to close its UK business.

Adele - with an estimated worth of £85m - is now the UK's richest ever female musician. However, she only ranks 30th in the list of Britain's wealthiest musicians, behind the likes of Sir Paul McCartney, Sir Elton John, Sir Mick Jagger and Sting. Other entertainers on the list include Sacha Baron Cohen - the creator of Ali G and Borat - as well as ex-One Direction member Zayn Malik and his former bandmates, who have an estimated worth of £25m each.

Formula One champion Lewis Hamilton emerged as Britain's richest sportsman with a fortune of £106m. Meanwhile, England football captain Wayne Rooney - who reportedly earns £300,000 a week at Manchester United - secured the top spot among sportsmen aged 30 or under. Andy Murray, Rory McIlroy and Gareth Bale - who play tennis, golf and football respectively - weren't far behind.

The nation's wealthiest self-made woman, Denise Coates, is now worth over £3.7bn. She turned a handful of betting shops into Bet365, one of the world's largest gambling groups. Meanwhile, Mike Ashley - who founded and holds a majority stake in Sports Direct - fell out of the top 25 after securing 22nd place in 2015. The value sportswear retailer has run into trouble over claims its working culture penalises people for taking sick days and allegations of squalid living conditions for its immigrant workers. But Ashley, who also owns Newcastle United football club, still has an estimated £2.43bn to keep him afloat.