The Guardian reports that the number of billionaires in the UK has increased from 15 in 1990 to 165 in 2024, while inequality in the distribution of total wealth has deepened significantly. This is stated in a study by the Equality Trust.
The study, timed to coincide with the Sunday Times Rich List publication, also found that billionaires have become “absurdly” richer – their average wealth has increased by more than 1000% over the same period.
The 50 wealthiest families in the UK now own more wealth than the poorest half of the population, which numbers more than 34 million people. In 2024, the two richest billionaires in the UK had more wealth than all the billionaires on the 1990 list combined.