The eye of a needle

The latest Sunday Times Rich list includes some interesting aspects.  According to the BBC, the wealth of the top 200 people is vastly more than in 1989.

  • In 1989 you would have needed wealth of £30m (about £65m today) to make it into the top 200
  • Last year, to get into the top 200 you would have needed £450m
  • In 1989 the wealth of the top 200 added up to £38bn
  • Last year it added up to £289bn

Does this come from “wealth creation”?   A large number on the list either made their fortunes abroad and moved here, or directed companies that are essentially overseas based.   The list represents the attraction of London to the extremely rich for a mixture of tax and fashion reasons.

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