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Sir Jim Ratcliffe remains the wealthiest person in the North West, according to the Sunday Times Rich List 2025, published today (May 16).
The billionaire founder of chemicals giant INEOS tops the regional list with a fortune of £17 billion, even after a £6 billion drop in the past year.
The Duke of Westminster and the Grosvenor family take second place in the North West rankings.
The 7th Duke, Hugh Grosvenor, continues to oversee a sprawling real estate empire – including holdings in London’s Mayfair – which last year saw a lucrative stake sold to Norwegian investors.
But while the top of the North West leaderboard remains relatively unchanged, the overall landscape of British wealth is shifting dramatically.
This year’s Rich List, now in its 37th year, marks the sharpest fall in UK billionaire numbers ever recorded – down from a 2022 peak of 177 to just 156 in 2025. It’s the third consecutive annual decline.
The combined wealth of this year’s 350 richest individuals and families stands at £772.8 billion, down 3% year-on-year – a figure still greater than the GDP of Switzerland, but a sign of what compilers call a “subdued” year.
The minimum entry point for the list remains unchanged at £350 million.
Among the notable names appearing in the national list are cultural icons such as Sir Elton John, Lord Lloyd-Webber, Sir Mick Jagger, Keith Richards, Sir Lewis Hamilton, Sir Christopher Nolan, and Euan Blair – son of the former Prime Minister.
Robert Watts, who compiles the list, said the changes reflect broader economic and political shifts.
He said: “Our billionaire count is down and the combined wealth of those who feature in our research is falling. We are also finding fewer of the world’s super rich are coming to live in the UK.”
Watts also pointed to growing dissatisfaction among wealthy British entrepreneurs with recent government tax reforms:.
“We expected the abolition of non-dom status would anger affluent people from overseas,” he added.
“But homegrown young tech entrepreneurs and those running centuries-old family firms are also warning of serious consequences to a range of tax changes.”
Despite the downturn, the list continues to highlight the enduring appeal of self-made success stories — from AI and gaming to makeup and even jogging bottoms.
“Many of our readers find these people and their stories inspiring — especially the many who had tough starts or setbacks to their lives and careers,” said Watts.
The full 76-page special edition of the Rich List appears in the Sunday Times Magazine on Sunday, May 18, and is available online at thetimes.com/sunday-times-rich-list.
But how is the top 20 from the North West shaking out?
5. Fred and Peter Done (£2.915bn)
Fred and Peter Done founded Betfred, one of the UK's largest independent bookmakers. They opened their first betting shop in Salford, using winnings from a bet on England's 1966 World Cup victory. Over the decades, Betfred grew into a nationwide chain with over 1,600 shops and a significant online presence, generating billions in annual turnover. | Getty Images
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6. Simon, Bobby and Robin Arora (£2.578bn)
The Arora brothers amassed their wealth by transforming B&M, a struggling discount retailer, into one of the UK's most successful retail chains. In 2004, they acquired B&M, then a regional chain with just 21 stores, for £525,000. Under their leadership, the company expanded rapidly, introducing new product lines such as toys, pet goods, and homewares. | Hans Lucas/AFP via Getty Images
7. Alan Howard (£2.5bn)
Howard is a billionaire hedge fund manager who co-founded Brevan Howard Asset Management in 2002. The firm quickly became one of the world's largest macro hedge funds, managing nearly $40 billion in assets at its peak in 2013. Howard's success stemmed from his ability to anticipate market movements and execute complex trades. | Bloomberg
8. John Gore (£2.181bn)
Gore made his fortune by transforming the landscape of live theatre in North America and expanding into film and television. A British-born producer, Gore founded Key Brand Entertainment in 2004, which later became the John Gore Organization (JGO). Under his leadership, JGO acquired Broadway Across America in 2008, a move that significantly expanded its reach. The company now owns and operates several major theatre-related platforms, and presents productions across Broadway and London's West End. | Getty Images