A number of retailers have fallen in the rankings in The Sunday Times Rich List 2020 as tough market conditions impact their personal fortunes.
The Weston family, owners of retail chains ranging from Primark to Selfridges, were the top-ranking retailers on this year’s Rich List, ranking eighth on the overall list compared with 13th last year, with wealth up £30m year on year to £10.5bn.
However, this ranking does not take into account the estimated £650m in sales the Weston family lose each month their stores are shuttered due to the coronavirus pandemic.
A number of other retail tycoons had a less resilient year. Ted Baker founder Ray Kelvin crashed out of the Rich List altogether, while River Island owner Bernard Lewis’s fortunes fell £334m during the year to £1.9bn, putting him at 77 on the ranking.
Sports Direct founder Mike Ashley came in at 75, with his wealth down £27m on last year to £1.9bn, while Topshop owner Sir Philip Green came in at 154, with his personal fortunes declining £20m year on year to £930m.
Retail entrepreneur Philip Day’s personal wealth declined £60m this year, putting him at 132 on this year’s ranking.
Gymshark founder Ben Francis entered the Rich List for the first time this year.