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Hargreaves Lansdown rocket up rich list

Hargreaves Lansdown’s co-founders have rocketed up the rich list but their fortunes are dwarfed by that of Towergate chairman Peter Cullum, who has£700m to his name.

This makes Cullum the 106th richest man in Britain, just four places behind Sir Paul McCartney, according to the Sunday Times 2007 Richlist.

Cullum has a stake of at least £650m and sold shares worth £65m to two American hedge funds last year. The highly acquisitive firm, which has snapped up numerous general insurance brokers as well as the services of former NU boss Patrick Snowball, recently revealed plans to target mortgage brokers and IFAs.

New Star founder John Duffield weighs in at number 165 with a fortune of £480m, after floating the firm in 2005. The family stake is worth £165m and he sold £110.6m worth of shares last month.

In 165th place is Simon Nixon, co-founder of with a fortune of £480m.

Hargreaves Lansdown founders Peter Hargreaves’ and Stephen Lansdown’s fortunes rose dramatically from £79m each to £245m, putting them in 301st place, up from 751 last year. This assumes a £600m valuation for the firm, which is discussing possible flotation.

Pearl Group executive director Hugh Osmond came 229th, lying just one place above the Queen, with a fortune of £320m.


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