The number of billionaires in the UK has dropped, while King Charles III’s personal fortune has risen significantly, now matching that of Prime Minister Rishi Sunak and his wife Akshata Murty, according to the latest Sunday Times Rich List.
This year’s list, which ranks the 350 richest people in the UK, shows the biggest decline in billionaires in its 37-year history, falling from 165 in 2024 to 156 in 2025. At the same time, the King’s wealth increased by £30 million, reaching an estimated £640 million. This boost moved him up 20 places to rank 238, alongside Sunak and Murty.
For the fourth year running, the Hinduja family tops the list, with a fortune valued at over £35 billion, despite a slight drop from last year. The Reuben brothers follow in second place with nearly £27 billion, and Sir Leonard Blavatnik, a Ukrainian-born British-American businessman, is third with about £26 billion.
One of the biggest losses was suffered by Manchester United part-owner Sir Jim Ratcliffe, whose wealth fell by over £6 billion, pushing him down the list from fourth to seventh place.
Other notable names on the list include Formula One champion Sir Lewis Hamilton, David and Victoria Beckham, and Sir Elton John. Among younger billionaires, singer Dua Lipa, 29, was ranked 34th with £115 million, Harry Styles, 31, came 22nd with £225 million, and Ed Sheeran, 34, was 13th with £370 million.
King Charles is now estimated to be £270 million richer than his late mother, Queen Elizabeth II, thanks largely to the investment portfolio he inherited from her. The late Queen’s fortune was valued at £370 million in 2022, while Charles’ current wealth is estimated at £640 million. He did not pay inheritance tax on this inheritance due to exemptions for royal assets.
The King also benefits from income generated by the Duchy of Lancaster estate, which covers over 18,000 hectares in parts of northern England and includes London properties. The estate is worth £654 million and brings in around £20 million in annual profit.
The Rich List compiler, Robert Watts, noted a decrease in wealthy individuals relocating to the UK. He attributed some of this to the Labour government’s recent abolition of the non-dom tax status, which previously offered tax advantages to foreign residents. The new foreign income and gains regime, introduced in April, aims to raise £12.7 billion over five years but has reportedly angered some affluent overseas individuals.
Global economic factors, including US tariffs introduced by President Donald Trump, have also contributed to market volatility and impacted fortunes.