The Hinduja family, led by Gopichand Hinduja, Chairman of the 110-year-old multinational conglomerate, the Hinduja Group, has once again claimed the top spot on The Sunday Times Rich List. Despite a decline of over £1 billion in their wealth over the past year, the family's fortune is estimated at £35.3 billion. This marks the fourth consecutive year the UK-based family has topped the definitive annual ranking of the wealthiest individuals and families residing in the United Kingdom. The 2025 edition features 350 entries.
Now in its 37th year, The Sunday Times Rich List reflects broader shifts in the global and domestic economy. The combined wealth of the top 350 has dropped by 3% to £772.8 billion, marking the third consecutive year of decline. Most notably, the number of UK billionaires has fallen to 156 from 165 in 2024—the steepest drop in the list’s history, according to The Times. The number of South Asians featured has also dipped slightly, from 30 last year to 27 this year.
Following the Hindujas, David and Simon Reuben are at the second position on the list while Lakshmi Mittal follows in at the eighth position. Other South Asians among the top100 richest Britons include Anil Agarwal, Shri Prakash Lohia, Mohsin and Zuber Issa, and Navin and Varsha Engineer among others.
In line with a pattern observed in recent editions, several familiar names on the Rich List have suffered notable financial setbacks. However, not all fortunes have waned. King Charles's personal wealth increased by £30 million over the past year, reaching £640 million. He now shares the 238th spot on the list with former prime minister Rishi Sunak and his wife, Akshata Murty.
Robert Watts, compiler of The Sunday Times Rich List, commented on the evolving composition of the rankings stating, “The Sunday Times Rich List is changing. Our billionaire count is down and the combined wealth of those who feature in our research is falling. We are also finding fewer of the world’s super-rich are choosing to live in the UK.”
He also noted the impact of political and economic developments, particularly recent changes to the tax regime. “This year we were also struck by the strength of criticism for Rachel Reeves’s Treasury. 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.”
Watts highlighted the diversity and resilience of wealth creation in the UK, saying, “Our research continues to find a wide variety of self-made entrepreneurs building fortunes not just from artificial intelligence, video games and new technologies, but also from everyday items such as makeup, radiators and jogging bottoms. We know many of our readers find these people and their stories inspiring—especially those who overcame difficult beginnings or major setbacks in their lives and careers.”
40 richest people under 40 in the UK
This year’s 40 Under 40 list sees a surge of new tech titans, with artificial intelligence developers, coders, and data entrepreneurs now making up nearly half of the featured individuals. The list celebrates a mix of British talent across entertainment, sport, and business—encompassing both inherited fortunes and self-made ventures.
While four of the top ten individuals inherited the bulk of their wealth, 35 out of the 40 are classified as “self-made.” The list also reflects growing international diversity: nine of the 40 hold nationalities other than British, including two Danes, two Poles, a New Zealander, and a Bulgarian. South Asian representation has also increased, with five individuals named this year, up from three in 2024.
Education paths vary widely among the entrants—at least 15 did not attend university, while four studied at Oxford and another four at Cambridge.
4. Herman Narula (£780 million): Described by Tatler as “the top in tech,” Delhi-born Herman Narula, 37, is a Cambridge graduate and a prominent voice on how technology and the metaverse are transforming society. He has publicly criticised the U.S. for what he calls “AI imperialism.” Narula founded virtual worlds developer Improbable while still a student. Since becoming profitable in 2023, the company has soared in value. Narula owns just under 30% of the firm, which he co-founded with Peter Lipka (No. 30 on the list).
16. Ayman Rahman and Fateha Begum (£307 million): Despite profits falling by more than 30% at Dare—the energy trading company he controls—Rahman, 34, continues to oversee its operations alongside his wife and co-founder, Fateha Begum, 37. Raised in Devon and now based in London, the couple has built one of the most lucrative energy startups in the UK.
17. Amar Shah (£264 million): A Cambridge-educated former Goldman Sachs banker, Shah, 37, co-founded the driverless car startup Wayve in 2017 with Alex Kendall (No. 11). He has since shifted focus to a new venture: Charm Therapeutics, a tech-driven pharmaceuticals company harnessing AI in drug discovery.
30. Ben Maruthappu (£123 million): A former NHS doctor, Maruthappu launched the home care firm Cera after struggling to find adequate support for his injured mother, Leena. The company now plays a key role in helping the NHS reduce operational costs and improve patient outcomes.
32. Vishal Karia (£119 million): Karia, 35, was expelled from school and later diagnosed with ADHD, but turned adversity into ambition. In 2016, he founded Anity Fragrance, a Buckinghamshire-based scent wholesaler that now boasts a turnover of over £120 million.
The wealthiest have upped their charity game
The wealthiest individuals in the UK donated nearly £500 million more to charity over the past year, according to the latest Sunday Times Giving List.
Published today in partnership with the Charities Aid Foundation (CAF), the list tracks the philanthropic contributions of 100 individuals from the Sunday Times Rich List and the 40 richest under 40.
This year, the top 100 donors collectively gave £3.7 billion to charity—either personally or through their foundations and businesses—up from £3.2 billion last year. For the first time, hedge fund managers have claimed the top spot, with industry leaders donating a combined £5.3 million weekly to charitable causes.
Suneil Setiya and Greg Skinner, founders of Quadrature Capital and each worth an estimated £980 million, top the rankings with a combined wealth of £3.2 billion. Together, they donated £270 million over the past 12 months.
According to the most recent accounts filed with the Charity Commission and the Scottish Charity Regulator, 10 of the top 100 donors gave more than £100 million in the past year, while 64 gave less than 1% of their wealth.
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Suneil Setiya is a prominent London-based financier and philanthropist, best known as the co-founder and co-CEO of Quadrature Capital LLP, a leading quantitative trading firm established in 2010. Alongside his business partner Greg Skinner, Setiya has grown Quadrature into a major player in the hedge fund industry, specialising in market-neutral algorithmic strategies. The firm reported a pre-tax profit of £560 million for the year ending January 2022, underscoring its financial success.
In addition to his business achievements, Setiya is deeply involved in philanthropy. He co-founded the Quadrature Climate Foundation (QCF) in 2019, a UK-registered charity focused on addressing climate change. QCF has committed over $1 billion to global initiatives aimed at mitigating climate impacts and supporting vulnerable communities. Notably, Setiya contributed a $40 million donation to solar geoengineering research, highlighting his commitment to innovative climate solutions.
