Family behind Selfridges & Primark retain top spot in retail rich list

Family behind Selfridges & Primark retain top spot in retail rich list
// The wealth of the Weston family, owners of Selfridges, Fortnum & Mason, Primark and Heal’s, stands at £11bn
// The family is ranked #10 on the Sunday Times Rich List, down from last year’s #8, but still the leading retail name
// Other retail names in the Rich List include Stephen Rubin, Mike Ashley, the Issa brothers, Mahmud Kamani and more

The family behind Selfridges and Primark have retained their dominance as the richest names in UK retail after its wealth kept it in the top 10 of the Sunday Times Rich List.

According to The Sunday Times, the Weston family, owners of UK-based Wittington Investments, are the 10th-richest sterling billionaires in the country with an estimated worth of £11 billion.

While this is an additional £470 million compared to last year’s £10.53 billion, the Westons’ overall ranking had slipped from eighth.

READ MORE: Family behind Selfridges & Primark shoot into the UK’s top 10 rich list

Iconic luxury retailers Fortnum & Mason and Selfridges are owned by Wittington Investments, as is furniture retailer Heal’s.

Wittington Investments also has a majority stake in Primark parent company AB Foods.

Fortnum & Mason chairwoman Kate Hobhouse is the sister of AB Foods chief executive George Weston.

Meanwhile, their cousin Alannah Weston is the chair of the Selfridges Group, which consists of the eponymous department store in the UK, Holt Renfrew in Canada, de Bijenkorf in the Netherlands and both Brown Thomas and Arnotts in Ireland.

Elsewhere in the Sunday Times Rich List, François-Henri Pinault – the chairman and chief executive of luxury retail group Kering, was ranked 16th with his wife Salma Hayek after they wealth grew by £2.08 million to £8.67 billion.

Meanwhile, Stephen Rubin was ranked 23rd, up from 29th last year his wealth grew £2.169 billion year-on-year to £6.39 billion.

While Rubin’s sports shoe and clothing empire Pentland Group includes Kickers, Speedo, Berghaus and a host of other well-known brands, he also has 55 per cent holding in JD Sports.

The Barclay brothers – whose business empire includes online retailers Littlewoods and Very – had another £1 billion wiped off their wealth since last year, bringing their overall ranking down to 28th.

Anders Povlsen, a major Asos shareholder, was also tied 28th on the list with a fortune of £6 billion.

Mohsin and Zuber Issa, the billionaire brothers who recently acquired Asda from Walmart, entered the top 40 at 37th after their wealth grew £1.12 billion on last year to £4.68 billion.

Tom Morris – the owner of discount chain Home Bargains – added £261 million to his wealth but his ranking dropped from 30th to 40th richest in the UK.

Outside the top 50, Frasers Group tycoon Mike Ashley was ranked 61st richest in the UK, up from last year’s 75th after his wealth grew by £769 million to £2.71 billion.

Simon, Bobby and Robin Arora, the owners of discount chain B&M, were ranked 65th this year after their wealth grew £413 million.

The Hut Group founder Matt Moulding, whose online retail empire floated made its stock market debut last year, climbed to 78th in this year’s rankings from 149th in 2020 as his wealth grew £1.14 billion to £2.1 billion.

José Neves, the man steering online fashion retailer Farfetch, made his debut on the rich list, coming in 82nd thanks to his wealth of £2 billion.

River Island founder Bernard Lewis fell in this year’s ranking, coming in at 115th with £1.44 billion, down £460 million on 2020 when he was ranked 77th.

Boohoo Group tycoon Mahmud Kamani enjoyed a massive jump from 142nd last year to 118th this year, after his wealth grew by £391 million on last year.

Sir Philip Green also fell in this year’s ranking from 154th to 177th, thanks to the collapse of his vast Arcadia Group retail empire.

His wealth, along with his wife Lady Tina Green, now stands at £910m, a £20 million decline on last year.

Sir Tom Hunter, owner of Hunter, came 221st on the ruch list, with a fortune of £729 million.

Gymshark founder Ben Francis was 226th on the list with £700 million, rising by £562 million since 2020.

Ocado co-founder Tim Steiner ranked 248th, up from 326th last year as his fortune grew £222 million to £625 million.

Finally, Philip Day dropped out of the rich list altogether after his Peacocks chain fell into administration and he sold his Edinburgh Woollen Mill group.

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