Estates Gazette Rich List 2011
A new entrant has stormed into second place in the Estates Gazette Rich List, the unique guide to property’s wealthiest players.
Swiss-Italian pharmaceutical billionaire Ernesto Bertarelli and wife Kirsty have knocked the Reuben brothers off the second spot with a combined fortune of £6.8bn.
Their arrival has helped drive the total wealth in this year’s EG Rich List up to £87bn, an increase of £15bn (or 20%) on last year’s £72bn.
The remainder of the growth is down in part to highly active veteran deal makers such as David and Simon Reuben, the Barclay brothers and John Whittaker, who have all managed to grow their fortunes over the past year.
It was also driven by the strong recovery in prime central London property, which has boosted the wealth of the Duke of Westminster, Earl Cadogan and others with landed estates.
Struggling Irish investors continued to drop out of the list, down from 32 last year to just 26.
Julia Cahill, Deputy Editor, Estates Gazette
View 2011 Rich List