King Charles has seen a major boost in his personal fortune, surpassing his late mother Queen Elizabeth II by £270 million and matching the wealth of Rishi Sunak and his wife Akshata Murty.
Meanwhile, the number of billionaires in the UK has dropped significantly, according to the latest Sunday Times Rich List.
The 2025 edition of the annual ranking of the UK’s 350 richest individuals shows the largest fall in billionaires in the list’s 37-year history. This year, the number of UK-based billionaires fell to 156, down from 165 in 2024.
“Our billionaire count is down, and the combined wealth of those who feature in our research is falling,” said Robert Watts, the list’s compiler.
King Charles’ wealth rises
In the past year, King Charles’ estimated fortune rose by £30 million to £640 million, placing him 238th on the list—up 20 spots. This puts him on par with the former Prime Minister and his wife.
Much of the King’s wealth comes from the Duchy of Lancaster, a private estate worth £654 million, which generates around £20 million in annual profits. His wealth also received a substantial boost from the investment portfolio inherited from the late Queen, on which he paid no inheritance tax due to a royal exemption.
Queen Elizabeth II was estimated to be worth £370 million in 2022, making King Charles now significantly wealthier than she was.
Who tops the Rich List?
Despite a drop in their wealth, the Hinduja family has retained the top spot for the fourth year in a row. Their business empire, the Hinduja Group, has an estimated fortune of £35.3 billion, down from £37.2 billion.
Rounding out the top five:
1.Gopi Hinduja & family – £35.3bn
2.David & Simon Reuben & family – £26.87bn
3.Sir Leonard Blavatnik – £25.73bn
4.Sir James Dyson & family – £20.8bn
5.Idan Ofer – £20.12bn
Sir Jim Ratcliffe, co-owner of Manchester United, experienced the biggest loss. His wealth dropped by more than £6.4 billion, bringing him down from fourth to seventh place with £17.05 billion.
Rising stars and young rich
Pop star Dua Lipa, 29, became the youngest entry on the under-40s list, ranking 34th with a net worth of £115 million. Fellow musicians Harry Styles (£225 million) and Ed Sheeran (£370 million) also featured prominently.
Other well-known names on the list include Sir Lewis Hamilton, David and Victoria Beckham, and Sir Elton John.
Fewer super-rich coming to the UK
Watts noted a trend: “Fewer of the world’s super-rich are coming to live in the UK.” One major reason is the end of the non-dom tax status, abolished by the Labour government in April. The move has sparked concern among affluent foreigners previously drawn to the UK’s tax-friendly environment.
The new rules allow tax relief on overseas income and gains only during a person’s first four years in the UK—provided they haven’t been a resident in the prior ten years.
Originally proposed under Jeremy Hunt, the plan was fast-tracked by his successor, Chancellor Rachel Reeves. The government expects these changes to raise £12.7 billion over the next five years.
Global headwinds
On the international front, economic uncertainty has deepened due to US tariffs introduced by former President Donald Trump in April. The resulting market turmoil and increased costs have contributed to global financial instability.
The International Monetary Fund recently warned that share prices worldwide had dipped amid renewed trade tensions and expressed concerns about an “erosion of trust” between countries. Photo by Arnaud Bouissou, Wikimedia commons.