Primark and Selfridges owners Galen and George Weston and Arcadia owner Sir Philip Green slipped down the Sunday Times Rich List rankings this year.
The Weston family fell one place to 10th on the annual list of Britain’s wealthiest people while Green fell to 17th place from 13th last year.
Green’s wealth was put at £3.3bn, down £900m from £4.2bn last year while the Westons are reportedly worth £5.9bn, down £100m from £6bn last year.
Sports Direct founder Mike Ashley was the third highest ranking retailer, rising to 36 from 52. His fortune rose £482m to £1.8bn.
Retail analyst Nick Bubb said: “It is a sign of the times that the great man [Sir Philip Green] is down to joint 17th position this year (he once used to be nearly top), with his estimated fortune down from £4.2m to £3.3bn.
“But even the Sunday Times’ reduced £2bn valuation of the struggling Arcadia is still silly. Given the £445m of net debt…we’d value Arcadia at £1bn max, very similar to the market cap of Debenhams, which has the same sales of circa £2.7bn.”
The Sunday Times Rich List Top 10 Retailers
1. Galen and George Weston, Primark, position: 10, last year: 9, worth: £5.9bn
2. Sir Philip Green, Arcadia, position: 17, last year: 13, worth: £3.3bn
3. Mike Ashley, Sports Direct, position: 36, last year: 52, worth: £1.8bn
4. Alexander Mamut, Waterstones, position: 34, last year: 53, worth £1.3bn
5. Mohamed al-Fayed, Harrods, position: 54, last year: 46, worth: £1.3bn
6. Bernard Lewis, River Island, position: 58, last year: 56, worth: £1.3bn
7. Christina Ong, Mulberry, position: 61, last year: 114, worth: £1.2bn
8. Lord Kirkham, DFS, position: 67, last year: 67, worth: £1.1bn
9. Stephen Rubin, JD Sports, position: 71, last year: 134, worth: £1bn
10. Will Adderley, Dunelm, position: 111, last year: 108, worth: £710m
No comments yet