Businessman who grew up in council house is UK's richest person

WEALTH Sir Elton John is worth £300m while Andrew Lloyd Webber £740m

Ed Sheeran's wealth increased by $38 million (£28 million) in 2017, more than any other musician in the United Kingdom and Ireland, according to the Sunday Times Rich List.

THE 20 richest people in the North West have been revealed - and East Lancashire billionaires rank high on the list.

His increased wealth is down to the successes of Ineos, the London-headquartered chemicals company which is now locked in a legal battle with the Scottish government over its moratorium on fracking.

Jamie Oliver and fashion tycoon Sir Philip Green saw their fortunes drop.

The Hinduja brothers, Sri and Gopi, who are worth £20.64 billion came in second place. Their fortune jumped by £4.44 billion from 2017.

It later emerged that the department store's two pension schemes had a combined shortfall of £571 million, risking the future of their 19,000 members and prompting MPs to call Sir Philip to give evidence in front of a parliamentary select committee. The couple are now 11th on the list.

Gap says sorry for T-shirts with "incorrect map" of China
The fashion retailer has also pulled the product off its shelves in China and destroyed the shirts, a statement on its Weibo read. That drew the ire of some Chinese Netizens after a photo of the T-shirt on sale in Niagara, Canada, was posted online.

Hamilton wins a relatively ho-hum 2018 Spanish Grand Prix
We lost a bit of time at the stop and that was enough to put us back out behind Vettel and also Magnussen. Now, to talk about the Spanish GP weekend itself, Mercedes looked to be on great form.

HSBC conducts "world's first" trade finance deal
Working with R3, the banks from all over the world tested trading using blockchain and cloud technology. The LOC backed a shipment of soybeans to Malaysia from Argentina last week.

The Sunday Times has previously described him as publicity shy.

The aristocrat land-owner Hugh Grosvenor, the 7th Duke of Westminster, remains the UK's youngest billionaire.

"The recent volatility of global stock markets have provided opportunities for the City's richest hedgies to gild their wealth", Robert Watts, who compiles the Rich List said.

"That's the big difference we've seen over the 30 editions of The Sunday Times Rich List - wealth creation is now a story of self-made men and women".

The full annual Rich List, which will be published on Sunday May 13, calculates the wealth of the 1,000 richest people in Britain based on "identifiable wealth", including land, property, assets such as art and racehorses, and significant shares in public companies.

Meanwhile, technology is also playing a bigger part in helping more young people make their fortunes and small companies to grow. "The Brits are perfectly capable of managing the Brits and don't need Brussels telling them how to manage things", he said.

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