Rich List: Half of billionaires in Scotland saw fortunes fall over last year

Half of Scotland’s 10 billionaires saw their fortunes fall over the last year, the Sunday Times Rich List 2022 has revealed.

The richest person in Scotland is fashion tycoon Anders Holch Povlsen, who owns popular brand ASOS. He is worth around £6.5 billion and saw an increase of £500 million since last year, the newspaper said.

Glenn Gordon and family who own spirits company William Grant and Sons saw their wealth dip by around £200 million since 2021.

Pharmaceutical giants Kiran Mazumdar-Shaw and John Shaw and family also saw their fortune fall by an estimated £400 million.

The annual list reveals the wealth of the 250 richest people in Britain and published its 34th edition online at thesundaytimes.co.uk/richlist on Friday.

Also featuring on this year’s Scottish list are new entrants The Easedale Brothers, who are worth around £1.3 billion. The pair were formerly directors of Rangers and have built their wealth through transport and property acquisitions.

Owners of media firm DC Thomson, the Thomson family, have seen their fortune grow by £314 million since 2021.

There are now 10 billionaires in Scotland, with head of Clyde Blowers, Jim McColl coming in 11th place having recently lost his billionaire status.

Harry Potter author JK Rowling follows, with her wealth estimated to be around £870 million.

Robert Watts, the compiler of The Sunday Times Rich List, said: “Scotland’s richest people have fared less well than those elsewhere in the UK, with half of this year’s 10 Scottish billionaires seeing their fortunes fall over the past year.

“The combined wealth of the country’s 10 billionaires is still up, at nearly 2% on 2021.

“As the economy continues to work through the damage wrought by the pandemic, surging inflation and the disruption to markets caused by the war in Ukraine are now making the business environment difficult.”