ANDERS Holch Povlsen has been named the richest person in Scotland for the second year in a row, the Sunday Times Rich List 2023 has revealed.
He saw his fortune increase by £2 billion in the last year and is now worth £8.5bn, compared to £6.5bn last year.
The Danish billionaire is the chief executive of clothing retailer Bestseller – boasting brands such as Jack and Jones, which was founded by his father Troels Holch Povlsen in 1975.
He also holds a large stake in online fashion retailer Asos.
READ MORE: Question Time: Fiona Bruce slammed for 'unacceptable framing' of SNP
Povlsen is closely followed by whisky tycoon Glenn Gordon and Family in second place, who saw his net worth increase by £1.2bn in the last year to £4.6bn.
Owner of Highland Spring Mahdi al-Tajir has seen his fortune fall by £48m in the last year, to £1.637bn from £1.685bn.
He has moved one place up the rich list from sixth in 2022, to fifth in 2023.
The list remains largely unchanged from 2022, but Sir Ian Wood and family also move up one place from fourth to third and saw their fortune increase from £1.81bn to £1.82bn over the last year.
Proprietor of Harrods, Mohammed al-Fayed has gone from fifth on the list to fourth, but his fortune of £1.69bn has remained unchanged.
This year’s Sunday Time Rich List comes as interest rates and inflation rise – marking the end of the “golden period” for the super rich, according to the list’s compiler Robert Watts.
Watts said: “This year’s Sunday Times Rich List shows that a golden period for the super rich is over. For the first time in 14 years we’ve seen the number of UK billionaires fall.
“Two years ago we raised concerns about an unsettling boom in the fortunes of the very wealthy that continued unchecked during the political instability around Brexit and the pandemic. This is not a crash – but there are household names who have lost vast sums over the past year. The bursting of the tech bubble, the end of rock bottom interests and the jitters creeping through the banking industry have all taken their toll.
“The super rich don’t exist in a vacuum. Many small investors lost money in some of their overblown stock market floats. Many people also work for their businesses. Financial losses for billionaires can have implications for us all.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel