The richest people in Scotland and the rest of the UK have been named in a new list from the Sunday Times.
The 35th edition of the news outlet's Rich List details the earnings of the wealthiest individuals across the country, although this edition showed a fall in the number of billionaires for the first time since the financial crash of 2007/08.
Robert Watts, compiler of the Sunday Times Rich List, 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."
The top five richest people in Scotland in 2023
- Anders Holch Povlsen (£8.5billion): 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 brand Asos.
- Glenn Gordon and Family (£4.6 billion): Whisky dynasty, Glenn Gordon and family, is listed as this year’s second richest person in Scotland at £4.607billion. Based in Jersey, Gordon runs William Grant & Sons, and is owner of Drambuie, Glenfiddich and Grant’s.
- Sir Ian Wood and Family (£1.82 billion): Billionaire North Sea tycoon and philanthropist Sir Ian Wood is best known for his work with Wood Group, revolutionising the firm to become a corporation with operations around the world. He was chief executive between 1967 and 2006 and later served as chairman. He established the Wood Foundation, a venture philanthropy body, in 2007 with his family.
- Mohammed al-Fayed (£1.69billion): Former Harrods boss Mohammed al-Fayed, whose fortune of £1.69billion has remained the same since last year, has gone from fifth on the list to fourth.
- Mahdi al-Tajir (£1.685billion): The owner of water company Highland Spring Mahdi al-Tajir has seen his fortune fall by £48million in the last year, to £1.637billion from £1.685billion. He has moved one place up the rich list from sixth in 2022, to fifth in 2023.
Who tops the UK list?
Elsewhere, in the UK-wide list, Gopi Hinduja and family nabbed the top place for the fifth year in a row.
The Indian-born family is responsible for a vast international conglomerate with interests in businesses employing a quarter of a million people across 48 countries, boasting a net worth of £35billion.
Up next is Sir Jim Ratcliffe, worth £29.688 billion, who was raised on a council estate and went on to launch the chemicals behemoth Ineos.
Sir Leonard Blavatnik who controls Warner Music Group came third with a net worth of £28.6billion, followed by David and Simon Reuben and family, worth £28.3billionn, who part-own Newcastle United.
This year’s expanded list of 350 individuals and families together hold combined wealth of £796billion — a sum larger than the GDP of Switzerland.