RICH LIST 2018
The weal thies t indiv idual s in the West Midlands
Wealthiest 50 individuals in region see value soar to £28bn as construction, property and manufacturing sectors pay dividends
THE richest people in the West Midlands have seen their combined fortunes soar in the space of a year and are now heading towards the £28 billion mark, according to the 2018 Birmingham Post Rich List.
There are a record eight billionaires listed in this year’s list, which is available today in our 40-page special supplement.
The annual countdown of the region’s 50 wealthiest individuals and families in the region suggest that, despite the uncertainty posed by Brexit and the economic outlook, if you happen to be at the top of the wealth pile then things are still getting better.
The amassed fortunes of our top 50 add up to a remarkable total of £27.5 billion, an increase on last year of more than £2.5 billion while the entry price has risen from £85 million in 2017 to £100 million.
As always, there are winners and losers in the 2018 countdown but those involved in construction, property and manufacturing have all seen an increase in their wealth over the past year, or at the very least have protected their position.
Among the biggest winners are property-to-motors magnate Lord Bob Edmiston and Richard Harpin, whose Walsall-based HomeServe household insurance business is taking America by storm.
Retail is struggling nationwide as life on the high street gets tougher and the online/offline battle between bricks and clicks continues.
However, the entrepreneurship of West Midland businesspeople and their hard work have combined to ensure the money keeps rolling in for the wealthiest individuals and families.
The criteria to appear within the Rich List has remained unchanged.
The list covers the West Midlands area, encompassing Birmingham, Solihull, parts of Staffordshire and Worcestershire, the Black Country, Coventry and Warwickshire.
Entrants must have acquired their wealth or heavily invested here or they must have a long connection to the West Midlands through birth or family to be considered for inclusion.
Topping the countdown once again is Guo Guangchang, the chairman of Fosun International which bought Wolverhampton Wanderers in 2016. His wealth in 2018 is estimated at £4 billion, down by £200 million on 2017.
Like last year, he is joined in the top ten by fellow Chinese football club owners, West Bromwich Albion chief Guochuan Lai (£2.6 billion) and Aston Villa owner Tony Xia (£1 billion).
Among the new entrants to the list are Dean Hoyle, the owner of st stationery supplier The Works, an and Julia and Guy Hands who to together own three of the re region’s most prestigious hotels. Financial services and wealth m management firm UBS is again he headline sponsor of the Rich Lis List. P Phillip Wood, head of the com company’s Midlands operation, sai said “The individuals included wit within this list have generated the their wealth in a wide variety of sec sectors and it is pleasing to see how their prosperity continues to reap benefits for the wider commu munity. “W “While 2017 was a year of political and economic flux, businesses i in the region have shown a rem remarkable resilience in the face of al all this uncertainty. “Y “You only need to look around Birmingham’s evolving skyline and bustling streets to recognise the vibrant business growth we’re enjoying.”