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Sunday Times Rich List - They're Getting Richer

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But not as wealthy before the recession. I wonder how inflation is adding costs to their businesses? It'll be interesting to do a quick calculation to their wealth in gold ounces before the recession (2007?) and now.

Edited by Money Spinner

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Another interesting calculation is the FTSE100.

If we take May 2010, the FTSE was at 5000pts. Today it is at 6000pts.

(Difference/Original)*100 =%Change

(1000/5000)*100 = 20%

So their wealth can mirror the move in the FTSE.

Edit: FTSE chart added: http://bigcharts.marketwatch.com/charts/big.chart?nosettings=1&symb=uk%3aukx&uf=0&type=2&size=2&sid=123797&style=320&freq=2&time=12&rand=1916583504&compidx=aaaaa%3a0&ma=1&maval=200,50&lf=1&lf2=2&lf3=0&height=444&width=579&mocktick=1

In reality, you as a mere mortal, could have stuck £100 into the FTSE ETF, you're now up 20%, and you would have actually performed better than these "masters of the universe" billionaires, collectively. And that's without lifting a finger (well OK a mouse click). The closer you sit next to the QE money machine, the easier to suck on it's teat - follow the money.

Edited by Money Spinner

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I wonder how many jobs these people have created?

Plenty, but not in the UK probably. In the last year, the main ways to bolster profits was to cut costs, improve efficiency, reduce stock holdings, streamline processes, minimise/eliminate job role duplication rather than expansion. That's what I've seen anyway.

Edited by Money Spinner

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I may be out of line here and don't want to offend but I am saving for a home so my wealth (savings) have increased too over the year. In fact I have done a little better in % terms than average quoted here despite a tough year. Surely most on here are similar.

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Plenty, but not in the UK probably. In the last year, the main ways to bolster profits was to cut costs, improve efficiency, reduce stock holdings, streamline processes, minimise/eliminate job role duplication rather than expansion. That's what I've seen anyway.

Sorry, but the Duke of Westminster does nothing but destroy jobs. Hoarding property to drive up rents does not create jobs -- it makes it less economical to operate a business in the UK and is a dead weight loss to the economy. All of the property billionaires on the list (i.e. most of the British ones) are the exact same. These people have only become "rich" through the Bank of England artificially holding down interest rates and the government creating an artificial shortage of property.

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Sorry, but the Duke of Westminster does nothing but destroy jobs. Hoarding property to drive up rents does not create jobs -- it makes it less economical to operate a business in the UK and is a dead weight loss to the economy. All of the property billionaires on the list (i.e. most of the British ones) are the exact same. These people have only become "rich" through the Bank of England artificially holding down interest rates and the government creating an artificial shortage of property.

It is interesting that a lot of these people clearly don't have their money in property.. otherwise it would be unlikely that their wealth would have climbed much (if at all).

Most of the richest people appear to still have their money in shares (as others have noted).

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This comment made me chortle:

THE GAME MONOPOLY. WHEN SOMEONE HAS EVERYTHING, ITS GAME OVER AND IT ALL GOES BACK IN THE BOX,WHEN ANYTHING GETS TOO TOP HEAVY IT WILL INEVITABLY FALL OVER

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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