Duke of Westminster tops young rich list - what he's worth

The Duke of Westminster is the richest person in the UK under the age of 40 and the third wealthiest in the North West, according to the 2024 edition of The Sunday Times Rich List published today.

Hugh Grosvenor, 33, the seventh Duke of Westminster, recently announced he will be relocating from London to Cheshire after marrying Olivia Henson, 31, at Chester Cathedral next month. The couple became engaged at the Duke's family home at Eaton Hall, near Chester, in April last year.

The billionaire, who inherited his title and a vast land and property portfolio when he was 25, has seen his fortune rise by £249 million in the last year. The Duke of Westminster and the Grosvenor family's overall wealth now stands at just over £10 billion.

READ MORE: Duke of Westminster to be married at Chester Cathedral The Duke will marry Olivia Henson on Friday, June 7 2024

READ MORE: Duke of Westminster and Harry Styles make young rich list - what they’re worth The Cheshire pair feature in the 2023 Sunday Times Rich List

Manchester United co-owner Sir Jim Ratcliffe was named the richest person in the region overall, despite losing over £6 billion this year. The Ineos founder and chairman is worth a whopping £23.5 billion - nearly double the fortune of the North West's second wealthiest person, financier Michael Platt.

The 76-page special edition of The Sunday Times Magazine reveals the largest fall in the billionaire count in the guide’s 36-year history, from a peak of 177 in 2022 to 165 this year. This year’s list of 350 individuals and families together hold combined wealth of £795 billion - a sum larger than the annual GDP of Poland.

Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away.

"Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy. These may be harder times to create wealth, but The Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways.

"This year’s new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aides. We know many of our readers find such people — especially those from humbler backgrounds — very inspiring."

The North West's top 5 richest people

NEWSLETTER: Sign up for CheshireLive email direct to your inbox here