Traditional retailers’ fortune have had a bruising year but a number of online retail entrepreneurs have climbed or entered The Sunday Times Rich List for the first time.
The Weston family, owner of a sprawling business empire including Primark, were the top-ranking retail moguls in the The Sunday Times Rich List this year and the only retailers in the top 10, although they fell two place in the ranking to tenth overall with a fortune of £11bn, up £470m year-on-year.
Beleaguered fashion retail titans Sir Philip Green and River Island founder Bernard Lewis both fell in this year’s ranking, while former billionaire Philip Day dropped out of the Rich List altogether after his Peacocks chain fell into administration and he sold his Edinburgh Woollen Mill group.
But while many traditional retail operators saw their fortunes battered by the Covid-19 pandemic, online retail entrepreneurs climbed the ranks.
The Hut Group founder Matt Moulding, whose business floated last year, climbed to 78th in this year’s rankings from 149th in 2020 as his personal fortune grew £1.14bn to £2.1bn.
Farfetch founder José Neves also entered the Rich List for the first time, coming in at 82 with a personal fortune of £2bn.
Ocado co-founder Tim Steiner ranked 248th this year, up from 326th in 2020 as his fortune grew £222m to £625m.
And on the Young Rich List Lounge Underwear co-founders Melanie and Dan Marsden entered for the first time in eighth, while Gymshark co-founders Ben Francis and Lewis Morgan ranked sixth and ninth respectively.
Asos investor Anders Polvsen, who owns a 25% stake in the fashion etailer, ranked 28th on the main list this year, down from 26th despite his fortune climbing £1.27bn to £6bn.
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