The latest ranking of the richest 1,000 people in Britain has seen Odey Asset Management founder Crispin Odey’s wealth tumble while the man behind Metro Bank has entered the Rich List for the first time.
The Sunday Times Rich List, published yesterday, reveals Odey was among 10 billionaires to feature on the list last year but whose wealth has now fallen to mere millionaire status. It marks the biggest fall in the number of billionaires since the financial crisis.
It comes after it emerged last week that the Odey European fund has dropped by over 30 per cent this year, thanks to Odey’s bets against emerging markets and China.
Bruno Schroder, a non-executive at the fund group founded by his great-great-grandfather, came out at 23 on the list, worth £4.06bn.
Peter Hargreaves, who co-founded the Hargreaves Lansdown platform, has secured 50th place on the Rich List, with wealth of £2.15bn. Hargreaves has left the company board, but retains a £1.97bn stake in the business.
Steve Lansdown’s estimated £1.4bn wealth earns him 75th place on the Rich List.
Vernon Hill and his wife Shirley have amassed wealth of £400m thanks to the launch of challenger bank Metro Bank. Shirley Hill designs the Metro Bank branches and her company has earned £11.9m for design services since 2009. Metro Bank floated last month with a valuation of £1.6bn. The Hills’ stake in worth £136m.
John Duffield, who sold £110.6m of shares in New Star Asset Management, is estimated to be worth £330m. His firm Brompton Asset Management Holdings saw profits fall to £1.9m in 2014/15, though assets under management rose to £1.25bn.