Five richest UK families have more than 12 million poorest
Five richest UK families have more cash than 12 million poorest Brits Wealthy elite's income growing four times faster than others.
Most affluent UK family richer than poorest 10%
The most affluent family in Britain, the Grosvenors, headed by the Duke of Westminster, has a fortune of around £7.9 billion, largely derived from owning 190 acres of real estate in London's Belgravia, near Buckingham Palace, according to the Forbes rich list.
That is more than the poorest 10% of the UK population, which is valued at £7.8 billion, according to Oxfam's Tale of Two Britains report. The top five richest families also include David and Simon Reuben, whose £3.9 billion fortune comes from metals and property.
The Hinduja brothers, whose trucking and banking businesses have netted them £6 billion.
The Cadogan family is worth around £4 billion from owning property and land in Chelsea and Knightsbridge in London and Cadogan Estates.
The the fifth richest person is Newcastle United FC owner and Sports Direct clothing chain boss Mike Ashley, whose fortune is valued at £3.3 billion.
More top news
-
Joe Biden vows to fight racial inequality with economic agenda
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
-
Trump reverts to promoting unproven drug as coronavirus treatment
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
-
What the papers say – July 29
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.