The latest edition of The Sunday Times Rich List, which tracks the wealthiest individuals in the UK, has named Sir James Dyson and his family as the richest people in the Southwest, despite a loss of over £2 billion.

The details were published online today and will appear in the print edition this Sunday.

This year's Rich List, a 76-page special edition of The Sunday Times Magazine, shows a decrease in the number of billionaires from 177 in 2022 to 165. The combined wealth of the 350 richest individuals and families is now £795.361 billion—exceeding the annual GDP of Poland. Notable figures such as Sir Elton John, Lord Lloyd-Webber, and David and Victoria Beckham also feature on the list, with the minimum entry at £350 million.

Despite the significant loss, Sir James Dyson, Britain's best-known inventor who recently launched a £600 electric mop, maintains his status as the wealthiest in the region with a fortune of £20.8 billion. Meanwhile, Chris and Sarah Dawson, owners of The Range, climbed 15 places on the Rich List as their wealth increased by £475 million to £2.5 billion, following a substantial dividend payout to Sarah Dawson this year.

Peter Hargreaves, co-founder of Hargreaves Lansdown, is ranked third in the South West with a wealth of £1.843 billion, experiencing a slight decrease of £22 million. In fourth place, Sir David McMurtry, co-founder of engineering firm Renishaw, sees an increase in his wealth by £128 million, bringing his total to £1.252 billion. Steve Lansdown, also co-founder of Hargreaves Lansdown, rounds out the top five with a fortune of £1.168 billion, having seen a decline of £11 million.

Robert Watts, the compiler of the Rich List, commented on the broader economic implications: "This year's Sunday Times Rich List suggests Britain's billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super-rich who came here are moving away. Thousands of British livelihoods rely on the super-rich to some extent. We'll have to wait and see whether we have now reached peak billionaire, and what that means for our economy."

Watts added, "These may be harder times to create wealth, but The Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways. This year's new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aides. We know many of our readers find such people — especially those from humbler backgrounds — very inspiring."

For the full list of the 350 richest people in the UK, and more insights into the nation's most affluent, visit The Sunday Times Rich List 2024.

The 2024 Sunday Times Rich List is the definitive guide to wealth in the UK, including interviews and features on some of the leading figures among the richest 350, and a comprehensive ranking by order of wealth.