Sir Philip Green’s fortune drops

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  • The British fashion tycoon has lost almost a billion pounds of his estimated fortune in the past year

    Sir Phillip Green has lost almost a billion pounds of his estimated fortune in the past year, according to the Sunday Times Rich list.

    The annual list released yesterday is based on the paper’s estimates of individuals’ minimum wealth from land, property, art and shares in public and private companies.

    According to the list, Green and his wife’s wealth has fallen from £4.2 billion to £3.3 billion due to a double digit drop in profits at Arcadia, the retail group which includes Topshop and Miss Selfridge.

    Other fashion figures mentioned on the list include Galen and George Weston and family, ranked as the 10th richest family in Britain whose holdings include Selfridges and Primark, as well as Christina Ong and her family, ranked at number 61 with an estimated fortune of £1.21 billion due to their franchise deals with Giorgio Armani and Donna Karan, in in addition to being Mulberry’s shareholders of reference.

    The richest couple’s list includes David and Victoria Beckham with a combined wealth of £190 million, Victoria’s fashion label is said to be worth £30 million. Sir Paul and Lady Smith also feature, with a combined wealth of £280 million.

    Top of the list of the wealthiest people under 30 is Thomas Persson. The 25-year-old holds a 36 per cent stake in his father’s company, clothing chain H&M and runs it with his brother Karl-Johan, giving them an estimated value of £700 million.

    Anyone else feel like a massive underachiever after reading that?


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