Fashion tycoon named richest person in Scotland for third year running

The 350 individuals and families on the 2024 UK list hold a combined wealth of £795.361 billion, a sum larger than the annual GDP of Poland.

Fashion tycoon Anders Holch Povlsen has been named the richest person in Scotland for the third year in a row (Jane Barlow/PA) (PA Archive)

Anders Holch Povlsen has been named the richest person in Scotland for the third year in a row, the Sunday Times Rich List 2024 has disclosed.

The fashion tycoon topped the list yet again, despite seeing his fortune shrink by nearly £2 billion over the past year, and he is now worth £6.3 billion, compared with £8.5 billion last year.

The Danish billionaire is the chief executive of clothing retailer Bestseller – boasting brands such as Jack & Jones, which was founded by his father Troels Holch Povlsen in 1975.

He also holds a large stake in online fashion retailer Asos.

This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end

Robert Watts, Sunday Times Rich List compiler

Mr Povlsen is closely followed by whisky tycoon Glenn Gordon and Family in second place, who saw his net worth increase by just over £1 billion in the last year to £5.6 billion.

Sir Ian Wood and family remain in third place, having seen their fortune increase by £91 million to just over £1.9 billion.

Highland Spring owner Mahdi Al-Tajir, whose value rose £4m to £1.6 billion, moves up one place into fourth, into the spot occupied last year by former Harrods owner Mohamed Al Fayed, who died in August 2023.

Lady Philomena Clark and family, owners of car retailer Arnold Clark, saw their fortune decrease by £310 million over the past year, putting their worth at just over £1.5 billion and in fifth place on the list.

Harry Potter author JK Rowling saw her fortune rise by £70 million to £945 million, putting her 8th on the list.

The 2024 list also sees a debut for David Moulsdale, founder of the Glasgow-based laser eye surgery business Optical Express, whose wealth stands at an estimated £374 million.

This year’s UK list sees the sharpest fall in the number of billionaires in its 36-year history, with the total number now at 165 compared with a peak of 177 in 2022.

Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away.

“Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy.

“These may be harder times to create wealth, but The Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways.

“This year’s new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aides.

“We know many of our readers find such people, especially those from humbler backgrounds, very inspiring.”