Christopher Harborne Takes Sixth Place in UK Rich List with £18bn Fortune

The single sharpest fact in the UK's latest Rich List is that Christopher Harborne, a Thailand-based investor, has taken sixth place with an estimated fortune of over £18bn. This isn't just any fortune - it's one that's largely built on his stake in Tether, a cryptocurrency firm that issues stablecoins. Harborne owns 12% of Tether, which has been valued at $200bn based on private sales of shares in the company. He can't own more than 12% of the company, as the rest is owned by other investors.

His 12% stake in Tether gives him a whopping £17.7bn. But that's not all

• Harborne's wealth could be even higher, as some of his companies and assets are very hard to value. Robert Watts, the compiler of the Rich List, notes that Harborne's easiest to identify asset in the UK is his holding in QinetiQ, a Hampshire-based defence contractor listed on the London stock market. Harborne is the biggest shareholder in the company, owning a 14.2 per cent stake that was worth £357 million when the Rich List was compiled. It's clear that Harborne's wealth is substantial, and it's largely due to his stake in Tether.

Harborne's rise to sixth place in the Rich List isn't the only interesting story. The Beckhams, for example, have more than doubled their fortune in the last year, from £500m to £1.185bn. This is largely due to David's stake in US football club Inter Miami, which he bought for $25m and is now worth £300m. The property complex built around Nu Stadium, Inter Miami's base, is another factor - the 131-acre Freedom Park development encompasses shops, offices, restaurants, and parkland and residential homes. The Beckhams' investment here should be worth another £370 million.

They're likely to see their wealth increase even more in the coming years.

But not every billionaire has grown wealthier in the last year. Sir James Dyson, for example, has seen his estimated fortune slashed by £8.8bn to £12bn, due to lower revenues at his electricals empire. This is partly due to Donald Trump's tariffs, which have had a significant impact on Dyson's business. Sir Jim Ratcliffe, who owns chemicals giant Ineos, has also seen his wealth fall, from £17bn to £15.2bn. Ineos has been hit by a prolonged downturn in demand and tough competition from cheap imports, leading to rising debt and a loss last year.

They're facing significant challenges in the coming years.

The combined wealth of the UK's 350 wealthiest individuals and families has risen by 1.4% in the last year to £784bn. But while some billionaires have grown wealthier, others have fallen. The Rich List also shows that some billionaires have left the country to avoid wealth taxes. Robert Watts notes that one in six of the individuals and families who appeared on the list two years ago don't feature this time. They've moved away to avoid paying taxes.

He says, "This year's Rich List is a tale of two exoduses. One in six of the individuals and families who appeared on the list two years ago don't feature this time." He also notes that "many foreign billionaires who have been living in the UK have also dropped out because they have moved away."

The top ten of the Rich List is dominated by familiar names, including the Hinduja family, who top the list with a fortune of £38bn. The Reuben family, who have significant property interests, are second, with a fortune of £27.971bn. Other notable names on the list include Sir Leonard Blavatnik, Idan Ofer, and Nik Storonsky, the co-founder of Revolut. They're all highly successful individuals who have made their fortunes in various industries.

The global wealthy elite are becoming increasingly mobile, with many billionaires choosing to live and invest in countries with more favorable tax regimes. This trend is likely to have significant implications for countries like Nigeria, which are seeking to attract foreign investment and boost their economies. It's likely that Nigeria won't be able to attract as much foreign investment as it could, due to its tax regime. They don't have the same favorable tax laws as some other countries.