UK's richest are £155bn poorer: Fortunes of 1,000 wealthiest fall by a third

Hit hard: Steel magnate, Lakshmi Mittal, with his wife, whose personal wealth has dwindled from nearly £28billion to £10.8billion

Hit hard: Steel magnate, Lakshmi Mittal, with his wife, whose personal wealth has dwindled from nearly £28billion to £10.8billion

Britain's wealthiest 1,000 households have lost a total of £155billion in the past year - with the richest man's fortune plunging 61 per cent.

The recession has seen the super rich lose more than a third of their wealth.

The biggest loser is the man who has held the number one spot for the past five years, Lakshmi Mittal.

The London-based Indian steel magnate has seen his fortune plummet from £27.7billion to £10.8billion.

His losses are more than three times those of Roman Abramovich, the second in the list. The Russian is down £4.7billion to £7billion.

A record 97 women are in the top 1,000, with Slavica Ecclestone the highest new entry at 58. The former model is valued at £734million after her divorce from Formula 1 tycoon Bernie Ecclestone, whose fortune has fallen £934million to £1.46billion.

The richest Briton, the Duke of Westminster, is still in third place with £6.5billion, but £500million has been wiped off his property empire.

Overall, the 1,000 multi-millionaires are worth £258billion, down from last year's record total of £413billion.

The Queen's fortune has dropped from £320million a year ago to £270million.

Her investment portfolio, which is largely made up of shares in bluechip companies, has lost £30million.


Tumbling land and stately home prices have knocked £20million off her property portfolio.

But due to the drop in wealth across the list, she has risen from 264th position to 214th.

The list has valued the fortune of Princes William and Harry at £7million less than last year's £35million.

How the wealthiest were hit

They have gone from 13th to 16th in the list of 100 richest young people.

They are worth less than Harry Potter star Daniel Radcliffe and former glamour model Katie Price, better known as Jordan, who hold joint 12th place in that list, each with a net worth of £30million.

Other casualties include Hans Rausing, the Sussex-based Swede who inherited the Tetra Pak packaging business from his father.

Daniel Radcliffe
Sir Richard Branson

Rich list: Daniel Radcliffe (left) entered the top 2,000 for the first time with a £30m fortune, while Sir Richard Branson suffered a setback losing £1.5bn

More than a quarter of his fortune has been wiped out, leaving him with £4billion. Retail tycoon Sir Philip Green has suffered losses of half a billion, although with riches of £3.8billion he is up from ninth to sixth position.

Virgin boss Sir Richard Branson has seen his value more than halve, from £2.7billion to £1.2billion.

But not everyone is feeling the pinch. Sir Ken Morrison, the former head of the supermarket chain bearing his name, has seen his wealth increase 11 per cent to £1.6billion.

Ken Morrison

Smiling to the bank: Ken Morrison's fortune has grown significantly thanks to the success of his eponymous supermarket

Harrods owner Mohamed Al Fayed has enjoyed a 17 per cent leap in his fortune, which is now £650million.

Philip Beresford, who has compiled the list for the past 21 years, said: 'It is extraordinary how people have seen their fortunes being whittled away. It is devastation all round.

'But losing a few zeros off your theoretical fortune is nothing to being turfed out of your home or your job.'