Fashion tycoon named richest person in Scotland for second year running
Billionaire Anders Holch Povlsen has been named as the richest man in Scotland for the second year running, the Sunday Times Rich List revealed.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Anders Holch Povlsen has been named the richest person in Scotland for the second year in a row, the Sunday Times Rich List 2023 has revealed.
He saw his fortune increase by £2 billion in the last year and is now worth £8.5 billion, compared to £6.5 billion last year.
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 retailer Asos.
Mr Povlsen is closely followed by whisky tycoon Glenn Gordon and Family in second place, who saw his net worth increase by £1.2 billion in the last year to £4.6 billion.
This year's Sunday Times Rich List shows that a golden period for the super rich is over
Owner of Highland Spring Mahdi al-Tajir has seen his fortune fall by £48 million in the last year, to £1.637 billion from £1.685 billion.
He has moved one place up the rich list from sixth in 2022, to fifth in 2023.
The list remains largely unchanged from 2022, but Sir Ian Wood and family also move up one place from fourth to third and saw their fortune increase from £1.81 billion to £1.82 billion over the last year.
Proprietor of Harrods, Mohammed al-Fayed has gone from fifth on the list to fourth, but his fortune of £1.69 billion has remained unchanged.
This year’s Sunday Time Rich List comes as interest rates and inflation rise – marking the end of the “golden period” for the super rich, according to the list’s compiler Robert Watts.
Mr Watts 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.
“Two years ago we raised concerns about an unsettling boom in the fortunes of the very wealthy that continued unchecked during the political instability around Brexit and the pandemic. This is not a crash – but there are household names who have lost vast sums over the past year. The bursting of the tech bubble, the end of rock bottom interests and the jitters creeping through the banking industry have all taken their toll.
“The super rich don’t exist in a vacuum. Many small investors lost money in some of their overblown stock market floats. Many people also work for their businesses. Financial losses for billionaires can have implications for us all.”