Duke of Westminster’s £10bn fortune sends him to the top of the young Rich List
Hugh Grosvenor, the Duke of Westminster, has dodged the property slump, to top the under 40 category on the Sunday Times Rich List.
Grosvenor, 33, took the 15th place on the overall list, up from 11th in 2023, with his £10.127bn fortune. He is also now the third wealthiest person in the North West of England.
The list, published annually, categories Britain’s wealthiest people, and was topped this year by tycoon Gopi Hinduja at £37bn.
The Duke of Westminster’s net wealth
Grosvenor, who is set to marry his fiancee Olivia Henson at Chester Cathedral this year, has seen his wealth rise from £9.878bn in 2023, according to the Times.
He is a godson of King Charles, a close friend of Prince William and Harry, Duke of Sussex, and godfather to Prince George.
The paper also reported that despite commercial and retail property in London facing a cloudy outlook over the last 12 months, the Grosvenor’s have avoided the worst of it.
Their 2022 accounts reported almost £5bn in assets, up by £200m on 2023, and showed dividends of £51.1m were paid last year, an increase on the £49.9m received in 2022.
How the Duke of Westminster made his money
The family, which dates back to the Romanovs and Russian writer Pushkin, owns a property portfolio that includes properties in 40 cities worldwide and significant estates in Lancashire and Scotland.
It stretches from locations in Bath and Liverpool One in the northwest, with involvement in a £10m project for a leisure complex, to holdings in London’s glitzy Mayfair and Belgravia.
Grosvenor inherited his share of wealth – and his title – following the death of his father eight years ago and went on to donate £12.5m to Covid-19 relief efforts during the pandemic.
He continues to work with a charitable foundation focused on young people and is the chairman of the Grosvenor Group, a property and investment company.
