The richest people in UK banking & finance
Banking and finance is a massive wallet-measuring competition. There are a lot of people with a lot of wealth in finance. There are plenty of millionaires. It’s not unfathomable to be a decamillionaire, if you’re good (or lucky). But who is the richest person of all in the industry?
Banking and finance is a massive wallet-measuring competition. There are a lot of people with a lot of wealth in finance. There are plenty of millionaires. It’s not unfathomable to be a decamillionaire, if you’re good (or lucky). But who is the richest person of all in the industry?
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The Sunday Times Rich List, which was published today, might give an idea. Finance is a great industry to become rich in – but there are surprisingly few people who can become ultra rich. Hundreds of millions rich. Billions rich.
Some of finance’s richest people are “traditional” financial entrepreneurs. People such as Anglo-Russian Alex Gerko, for example, who founded market maker XTX Markets. Or Kristo Käärmann, the Anglo-Estonian founder and CEO of fintech Wise.
In the most British tradition, there is also a lot of inherited wealth. For example, the Hanseatic family of Schröder, which still owns Schroders to this day; or the Hoare family, owners of one of the oldest banks in the world: private bank C. Hoare & Co.
It’s worth noting that some of the list’s entries don’t *really* count. The list-topping Hinduja family, for example, derive their net worth from a sprawling conglomerate that is probably best known for its ownership of Gulf Oil; Sir Richard Branson’s Virgin group is usually best-associated with Virgin Records, Virgin Atlantic, or Virgin Active. Nonetheless, with them as with other cases, finance formed a part of their wealth creation.
Some people are also conspicuously absent from the list. Most egregiously Mike Platt, of hedge-fund-turned-family-office BlueCrest, or Nikolay Storonsky, founder and CEO of fintech Revolut. It does include Mark and Lindy O’Hare, the husband and wife team that cofounded market intelligence provider Preqin.
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