London is home to more billionaires than any other city but foreign businessmen still dominate

Richard Branson, founder of the Virgin brand, is one place below Mike Ashley with £3.6 billion Credit: Stefan Rousseau/PA Archive/Press Association Images

The number of billionaires living in Britain has risen to more than 100 for the first time, a study has found.

Some 104 billionaires are now based in the UK - more than triple the number from a decade ago - with a combined wealth of more than £301 billion, according to the Sunday Times Rich List.

It means Britain has more billionaires per head of population than any other country, while London's total of 72 sterling billionaires is more than any other city in the world, the study found.

The combined wealth of Britain's super rich is now ahead of the pre-recession levels of 2008, when the total wealth of the UK's 75 billionaires was £201 billion.

Last year, 88 billionaires were living in the UK, worth a total of more than £245 billion.

Russian billionaire and Arsenal shareholder Alisher Usmanov has lost his place as the richest man in Britain, as the crisis in Ukraine wiped billions of pounds off the bank balances of Russian and Ukrainian oligarchs.

His place on the top spot has been taken over by Indian-born, London-based brothers Sri and Gopi Hinduja, who run the global automotive, banking and investment Hinduja Group.

Mike Ashley, owner of Newcastle football club and JJB Sports, comes 23rd with £3.75 billion Credit: Owen Humphreys/PA Wire/Press Association Images

The brothers' wealth is valued at £11.9 billion, while Usmanov fell to second place after losing £2.7 billion over the last year.

Ukrainian-American Len Blavatnik, who owns international record label Warner Music, and Roman Abramovich, the owner of Chelsea football club, together lost nearly £1.8 billion in the last 12 months.

The richest Briton, the Duke of Westminster, is ranked 10th on the list after his fortune rose to £8.5 billion.

Sports Direct founder Mike Ashley and Sir Richard Branson are among the UK's top 25 wealthiest billionaires.

Richard Branson, founder of the Virgin brand, is one place below Mike Ashley with £3.6 billion Credit: Stefan Rousseau/PA Archive/Press Association Images

Plymouth-born Chris Dawson, who owns and runs The Range discount store chain, saw his fortune rise by £695 million in the past 12 months to net £1.28 billion.

Jon Hunt, founder of estate agents Foxtons, has a £1.07 billion fortune, up £145 million in 2013.

Among the new members of the billionaire club is West End producer Sir Cameron Mackintosh, who saw his fortune rise by £175 million in the last year and is now worth £1 billion, the survey found.

A decade ago, a personal fortune of £700 million was needed to be among Britain's 50 wealthiest people. The entry point to the UK top 50 today is £1.7 billion.

Russia's Alisher Usmanov has lost his spot as the richest man in Britain, according to the Sunday Times Credit: Reuters

Britain's 25 richest people in 2013:

Read: UK billionaires 'rise to more than 100 for the first time'