Ben Francis, 32, co-founder and CEO of Gymshark, has been ranked as the UK’s number four in The Sunday Times 35 Under 35 Rich List, with wealth valued at £900 million.
Lewis Morgan, who co-founded Gymshark with Francis in 2012 but exited the company in 2020 after selling his shares to concentrate on other business ventures, is number 11 on the list with a £160 million fortune.
Topping today’s young rich list is the Duke of Westminster, Hugh Grosvenor, and the Grosvenor family, with a total wealth estimated at £9.878 billion. Now 34, he inherited his title and control of the Grosvenor Estate – a vast land and property portfolio including 300 acres of Mayfair and Belgravia – from his father in 2016.
Others in the fashion business and retail to make the top 35 under 35 list include Lounge Underwear co-founders Daniel and Melanie Marsden at number 12 (£151 million), former professional footballer turned fashion entrepreneur Reece Wabara, founder of Manière De Voir at number 19 (£83 million), and Reiss and Kristian Edgerton, co-founders and joint CEO’s of activewear and athleisure brand ABYL, sitting at number 24 (£60 million) – in joint position with Joshua Stevens, Founder and CEO of One Retail Group (also worth £60 million).
There’s also Vishal Karia, founder and CEO of Affinity Fragrances, at 17 (£98 million), and model and actress Cara Delevingne at 33 (£50 million) – sitting just below Bayern Munich and England footballer Harry Kane at 32 (£51 million) who has a long-term football boot deal with Skechers.
Robert Watts, compiler of The Sunday Times Rich List, said: “Despite the tougher business environment, we have many impressive entrepreneurial stories in this year’s Sunday Times Rich List. We know our readers are particularly fascinated by those from humble backgrounds who start their own businesses, work hard and go on to build profitable businesses.
“Our new 35 Under 35 list includes men and women who have quickly built fortunes from fashion, vodka, lingerie and perfume. Many of these young guns are already employing hundreds of people and some will go on to be the future of the British economy.”
According to The Sunday Times Rich List, this year marks the first drop in the number of billionaires since the 2007-2008 financial crisis. While some fortunes have dipped, others have defied the downturn.
In the retail sector, Mike Ashley, founder of Sports Direct and founder and former CEO of Frasers Group, saw his wealth jump by 28%, now topping £3.8 billion, while the Weston family, owners of Primark, have seen their fortune climb to £14.5 billion.
The Sunday Times Rich List goes live online this morning, 16 May, and will be in the paper this Sunday, 18 May. This weekend’s 76-page special edition of The Sunday Times Magazine reveals the wealth of the 300 richest people in Britain.