Foster still sole architect on Sunday Times rich list
Norman Foster remains the only architect on this year’s annual Sunday Times Rich List, but has slipped down the rankings of the 1,000 richest people in Britain
Foster’s estimated fortune of £150 million sees him listed at number 607 - a fall from last year when he was ranked the 522nd richest person in the UK.
The drop comes just months after his company Foster & Partners Group revealed in its annual accounts that it had written down the value of the company from £279 million in April 2012 to £150 million on 30 April 2013.
However, with his own net worth remaining stable, Foster’s slip down the table owes more to the increase in wealth of the other multimillionaires on the list. In total the 1,000 wealthiest Britons own £519 billion, a massive 15 per cent increase on last year’s cumulative worth of £450 billion.
While no other architects feature in the rich list, a number of property developers did make the top 20. These included: brothers David and Simon Reuben, ranked at number 7 with an estimated fortune of £9 billion; the Duke of Westminster, who came in at number 10 with an estimated fortune of £8.5 billlion; Earl Cadogan and family, who came in at number 19 with an estimated fortune of £4.2 billion; and Joseph Lau and family, who came in at number 20 with an estimated £4 billion fortune due to their controlling stake in Chinese Estates.
Designer and inventor James Dyson came in at number 29 - down from 23 last year - with a fortune of £3 billion. In the art world, artist Damien Hirst tumbled 67 places to number 435 this year, while Anish Kapoor has jumped 86 places this year to number 691 thanks to an estimated rise in worth of £30 million.
Other notable names on the rich list include Irvine and James Sellar, who run Sellar Property Group, the developer of Renzo Piano’s Shard, who were ranked at number 458 with a fortune of £200 million; and Fraser Morrison, owner of RMJM who together with his brother Gordon Morrison, occupy position 921 with estimated worth of £95 million.