The Weston family, owners of Primark, remain in the top ten of the Sunday Times Rich List 2024, despite a small decrease in their fortune.
- In 2024, the Westons are ninth with a fortune of £14.4bn, down from seventh place the previous year.
- The family’s wealth declined by £7m, partly due to the sale of Selfridges Group for £4bn in 2021.
- Despite changes, the Westons are the only fashion retailers in the top ten of the Rich List.
- Other notable individuals in the fashion sector have experienced fluctuations in their rankings and fortunes.
The Weston family has secured the ninth position on the Sunday Times Rich List of 2024, a drop of two places from the previous year, indicating a slight decrease in their financial standing. Their current wealth amounts to £14.4bn, a reduction of £7m compared to 2023. This shift can be partially attributed to the sale of their Selfridges Group to Signa Holdings for £4bn back in 2021.
The Westons remain prominent within the fashion industry as the sole representatives in the top ten of the Rich List. This distinction highlights their continued influence and substantial wealth, amidst a field of 350 positions filled by a variety of individuals from diverse sectors.
Meanwhile, Anders Holch Povlsen of Bestseller experienced a more significant drop of 13 places to number 24, with his wealth reducing by £1.77bn to £6.73bn. Notably, Povlsen holds a 27% stake in the online retailer Asos, which might be a factor influencing current financial standings.Stephen Rubin, owner of Pentland Brands and a major stakeholder in JD Sports, has improved his position by two places, now standing at 26th with a wealth of £6.5bn.
International figures such as François-Henri Pinault of the luxury brand Kering also saw a decline, falling to 31st place with a reduction of £1.9bn, bringing his total to £6.14bn. The narrative continues with Mike Ashley from Frasers Group remaining at position 49, albeit with a slight decrease in wealth from £3.84bn to £3.79bn.
In contrast, Bernard Lewis of River Island experienced a positive change, advancing two places to 64th after gaining £20m, bringing his fortune to £2.7bn. Furthermore, families such as the Fayeds and the Greens maintain their spots, with minor shifts in their financial positions. Among the notable additions to the list are individuals like Ben Francis of Gymshark, who ranks at 230 with £775m. The dynamic nature of the fashion sector’s financial landscape is evident in these shifting positions and fortunes.
The shifts within the Rich List demonstrate a dynamic financial landscape, particularly within the fashion industry.
