New money outranks old money in the sense that 187 of the 250 entrants are not landed gentry.
David and Simon Reuben are the biggest “new money” entrants, with a fortune that has leapt by £900 million to £7 billion. The Bombay-born brothers, who made their first fortune in Russia, are re-developing the In and Out Club on Piccadilly into a £200 million house.
Ian and Richard Livingstone, who own Cliveden, have seen a jump of £812 million to £2.1 billion in their property empire, run from the former M&S HQ in Baker Street, which the brothers redeveloped.Mark Pears’ riches have risen by “only” £100 million to £1.7 billion. But the Pears family fortune is “old” in the sense that properties have been accumulated over half a century. Much of art lover Poju Zabludowicz’s £1.5 billion fortune is in London and Las Vegas real estate.
