Rich List 2023: Wealthiest people in the East Midlands, according to Sunday Times

The 2023 Sunday Times Rich List was recently announced, with 171 billionaires recorded in the UK this year. This year’s list of the wealthiest people in the UK sees INEOS CEO and potential future owner of Manchester United, Jim Ratcliffe, shoot up the rankings to second.

There are a few East Midlands-based faces on the list this year including Mike Ashley and Alfie Best. We look at which locals made the list and those who may have dropped a few places.

Stoke on Trent, gambling giants, Denise, John and Peter Coates and family, are the richest people in the Midlands, according to the new edition of The Sunday Times Rich List, published on Friday, May 19.

The 68-page special edition of The Sunday Times Magazine showcases the wealth of the 350 richest people in Britain in its 35th annual edition. It estimates that there are 171 billionaires in the UK recorded this year, down 6 from 2022, which is the first fall in 14 years

Overall, the richest 350 in the UK this year are worth £796.459 billion. The minimum wealth needed to be counted in our top 350 is £350 million.

So who are the East Midland’s biggest earners?

Mike Ashley

Many people will know Mike Ashley as the businessman behind the Sports Direct brand. However, few may actually know he is from the West Midlands. The owner of the Fraser Group was at number 59 last year but has moved up the list to 49 thanks to an increase of a cool £845m. He is now worth £3.84bn.

The connection to the East Midlands is that the headquarters for Sports Direct is based in Shirebrook which is in nearby Derby. Ashley has stores across Nottingham including House of Fraser in Victoria Centre and Sports Direct on Clumber Street. He also attempted to step in to help the ailing Debenham’s store in 2020 but was unsuccessful.

John Bloor

John Bloor who was born in Derbyshire, has added an incredible £1.409bn to his wealth this year moving him up the list to no.54 from no.85. The billionaire is involved with housebuilding, construction and Triumph motorcycles. The Sunday Times estimates his wealth at £3.488bn. He celebrates his 80th birthday this year.

Tony Langley

No change this year for Tony Langely who remains at no.129 with a worth of £1.35bn. The Nottinghamshire billionaire is responsible for the engineering company Langley Holdings which is based in Retford. He is the fourth billionaire to be based in the East Midlands.

He started the company in 1975 when he was just 20 years old and is now the fourth billionaire to be based in the East Midlands.

Alfie Best

Alfie Best, from Leicestershire, saw his fortune rise by £45m this year bringing him to the No.232 spot. Last year was his first feature on the Sunday Times list but it is estimated to be £745m now. The Best family is involved in property and caravan parks including Wyldecrest Parks which was founded in 2001.

Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List shows a golden period for the super-rich is over. For the first time in 14 years, we’ve seen the number of UK billionaires fall.

“Two years ago we raised concerns about an unsettling boom in the fortunes of the very wealthy that continued unchecked during the political instability around Brexit and the pandemic. This is not a crash - but there are household names who have lost vast sums over the past year. The bursting of the tech bubble, the end of rock-bottom interests and the jitters creeping through the banking industry have all taken their toll.

“The super-rich don’t exist in a vacuum. Many small investors lost money in some of their overblown stock market floats. Many people also work for their businesses. Financial losses for billionaires can have implications for us all.”