New city tops list of richest in Scotland

THEY are home to Scotland’s most desirable postcodes, highest average property prices and most lucrative industries.

But Edinburgh and Aberdeen have been knocked off the top of a list of Scotland’s richest cities – by Glasgow.

Research reveals 16 millionaires and billionaires included in the 2017 Sunday Times Rich List are based in, or originate from, the city.

With a total fortune of £4.5billion, Glasgow’s super-rich account for almost 14 per cent of the £32.7billion shared by Scotland’s 100 richest people.

Topping the city’s rich list is John Shaw, who left in the late 1990s to build up Indian-based pharmaceuticals firm Biocon. He has a fortune of £1.15billion.

Edinburgh is home to 17 mil- lionaires, more than any other Scottish city, with a combined wealth of £3.9billion.

They include author JK Rowling, worth £650million, and property investor Jim Mellon, who has £920million.

In Aberdeen, 14 millionaires share £3.6billion – 11 per cent of the total Scottish rich list wealth. North Sea oil tycoon Sir Ian Wood heads the city’s rich list, with a £1.6billion fortune.

Moray is Scotland’s richest region, with seven fortunes worth £5.4billion. This includes the £2.37billion of the Grant Gordon whisky family, who top the Scottish rich list.

Sixteen Scottish millionaires feature in the top 200 charitable donors in the UK.

Sir Ian Wood’s foundation has given more than £30million to help the poor in Africa, while Sir Brian Souter and Ann Gloag gave £8.2million to charity over the past year. Sir Tom Hunter has donated £7.2million.

Total fortune of £4.5bn