Time for a wealth tax, say Patriotic Millionaires as Rich List exhibits £772bn within the arms of simply 350 households | EUROtoday

Millionaires have known as on the federal government to correctly tax the richest individuals in Britain, after it was revealed that simply 350 households maintain over £772bn of the nation’s wealth.

Members of the Patriotic Millionaires have urged for a “long overdue” wealth tax to spend money on “our much-loved country”, including that the wealth of the highest 350 individuals might cowl the overall price of the UK’s annual healthcare spend 3 times over.

The name comes after the 2025 Sunday Times Rich List revealed the annual catalogue of Britain’s wealthiest individuals, with well-known figures together with Sir Elton John, Andrew Lloyd-Webber and the King all making the checklist.

Responding to the publication, Julia Davies, an angel investor who bought her stake in backpack and journey bag firm Osprey Europe, stated: “Once again this year’s rich list shows the phenomenal wealth that is stuck at the top with a whopping £772bn in the hands of a mere 350 people.

open image in gallery

“Those wringing their hands about fewer billionaires and the threat of multi-millionaires leaving would be better off focusing on real British problems, like our crumbling NHS, than nursing the niche concerns of the super-rich.

“£772bn, held by just 350 families, would cover the total cost of the UK’s annual healthcare spend three times over. Properly taxing this wealth, to invest in our much-loved country, is long overdue.”

The thirty seventh annual checklist reveals who’re the 350 richest people and households within the UK, based mostly on identifiable wealth, together with land, property, different property equivalent to artwork and racehorses, or vital shares in publicly quoted firms.

open picture in gallery

At the highest was the Hinduja household, who sat in first place for the fourth consecutive yr regardless of a decline of their fortune.

Gopi Hinduja and his household, who’re behind the Indian conglomerate Hinduja Group, have been recorded as having £35.3bn.

The Hindujas have been adopted within the checklist by actual property moguls David and Simon Reuben, who moved as much as second after rising their wealth to £26.9bn.

open picture in gallery

They have been adopted by investor Sir Leonard Blavatnik, entrepreneur Sir James Dyson and transport tycoon Idan Ofer.

Ms Davies, a member of Patriotic Millionaires, added: “Our media and political leaders need to stop focusing on the interests and habits of a small number of people who are hoarding extreme wealth at the expense of us all and instead prioritise the interests of Britain’s true wealth creators, our ordinary hardworking families, small businesses, entrepreneurs, teachers, health and other public-sector workers.

“These people are the backbone of the British economy, many of whom haven’t seen a pay rise in 15 years. Our government should treat the Rich List as the smelling salt it needs, wake up, and tax the super-rich.”

Manchester United part-owner Sir Jim Ratcliffe got here seventh within the checklist with a £17bn fortune.

open picture in gallery

However, the Ineos founder was the largest faller on the checklist as he noticed his wealth decline by round £6bn for the second consecutive yr.

Other notable figures on the checklist included the King, who noticed his private wealth leap by £30m to £640m within the final yr, making him as wealthy as former prime minister Rishi Sunak and his spouse, Akshata Murty.

Charles, who acceded to the throne in 2022, ranks joint 238th within the checklist, up 20 locations from 258th in 2024.

The monarch is £140m richer than David and Victoria Beckham, who’re stated to be price £500m, with the previous England captain being Britain’s richest sports activities star.

Meanwhile, the private wealth of Mr Sunak and Ms Murty dropped £11m from £651m to £640m.

open picture in gallery

Since leaving Downing Street, the previous prime minister has taken a part-time function at Stanford University and signed as much as the Washington Speakers Bureau, whereas Ms Murty has a stake in Infosys, the Indian IT big co-founded by her billionaire father.

The newest publication revealed a 3rd consecutive hunch within the variety of billionaires residing within the UK, right down to 156 this yr from 165 in 2024.

“Our billionaire count is down and the combined wealth of those who feature in our research is falling,” stated Robert Watts, compiler of the Rich List.

“We are also finding fewer of the world’s super-rich are coming to live in the UK.”

He stated he was additionally “struck by the strength of criticism for Rachel Reeves’s Treasury” when chatting with rich people for the publication.

Mr Watts stated: “We expected the abolition of non-dom status would anger affluent people from overseas.

“But homegrown young tech entrepreneurs and those running centuries-old family firms are also warning of serious consequences to a range of tax changes unveiled in last October’s Budget.”