Episode Transcript
Transcripts are displayed as originally observed. Some content, including advertisements may have changed.
Use Ctrl + F to search
0:00
Here's a cool fact. Here's a cool fact. A
0:02
crocodile can't stick out its tongue. Another
0:05
cool fact, you can get short-term health insurance
0:07
for a month or just under a year
0:09
in some states. UnitedHealthcare short-term insurance
0:11
plans are designed for people who are between
0:14
jobs, coming off their parents plan or turning
0:16
a side hustle into a full-time gig. Underwritten
0:19
by Golden Rule Insurance Company, they
0:21
offer flexible budget- friendly coverage with
0:23
access to a nationwide network of
0:25
doctors and hospitals. Get more cool
0:27
facts about UnitedHealthcare short-term plans at
0:29
uh1.com. When it comes to your
0:31
finances, you think you've done it all. You've saved,
0:33
you've researched, and you've invested all that you can.
0:36
Now it's time to take those investments to
0:38
the next level by using the brand behind
0:40
every great investor, Yahoo Finance. As
0:42
America's number one finance destination, Yahoo Finance
0:44
has everything you need, whether you're a
0:46
seasoned trader or just dipping your toes
0:48
into the market. Join the millions
0:50
of investors who trust Yahoo Finance to guide them
0:52
on their financial journey. For
0:54
more comprehensive financial news
0:56
and analysis, visit yahufinance.com,
0:59
the number one financial destination, yahufinance.com.
1:24
Once upon a
1:26
time, these islands were an absolute
1:28
playground for the super-rich, especially the
1:52
capital. You couldn't move for
1:54
billionaires in their thick townhouses and
1:56
suspiciously smooth foreheads, not to mention
1:58
the private schools. restaurants and
2:01
supercar dealers that flocks after them.
2:03
But is this changing? Why
2:06
has this year's list seen the
2:08
steepest dip in billionaires ever? The
2:18
story today. Why the
2:21
super rich falling out of love with London.
2:26
You'd think that anyone will be pleased to
2:28
be on this list. It's quite an accolade
2:30
but not everyone sees it as the great
2:33
win. Yes it's
2:35
a very good point. I mean we have
2:37
people who do want to talk their way onto
2:39
the Sunday Times British list, who want to talk
2:42
their way up it, down it
2:44
and some of them want to talk themselves off
2:46
it. I always wonder if they've got a divorce
2:48
coming up or or they're having
2:50
a round of attacks man or something like that and that's why
2:53
they don't want to be on the Sunday Times rich list. There
2:56
are some people for whom it's a
2:59
sign of they feel of achievement,
3:01
they've devoted their lives to creating,
3:03
building a business and
3:06
they feel it should be recognised. They feel
3:08
we live in a society where people
3:11
praise great artists, great writers,
3:13
great musicians, great sportsmen. I
3:16
don't often do it for business people and
3:18
they feel some of them feel grumpy about
3:20
that and they rightly or wrongly feel the
3:22
Sunday Times rich list does do
3:24
that. They feel it's recognition
3:26
for their achievements. Who is
3:28
at the top of the list this year? That's always
3:30
the interesting accolade isn't it? Gopi,
3:33
Hinduja and family this
3:35
astonishing Indian-born dynasty that
3:37
began in business
3:39
more than a hundred
3:41
years ago but the
3:44
Hinduja family whose interests
3:46
span everything from oil,
3:48
luxury hotels, energy
3:50
training, electric vehicles and spans for
3:52
globe. Why They
3:54
here in the UK? They're one of the
3:56
super rich families who've made Britain their home
3:59
in the last. He is the
4:01
last people listening to this will have
4:03
seen Sky for the James Bond film
4:05
human of That final shot of Daniel
4:08
Craig looking out over Whitehall. that on
4:10
top of the i'm A D builds
4:12
exactly a war us is now they
4:14
have pulled more than a hundred million
4:17
pounds in two turning that building into
4:19
this fibers Russell's hotel which has become
4:21
a bit of a matter for wealthy
4:23
tights since I've last year's and that
4:26
probably the best known Uk and nevertheless
4:28
era as well. Go Peace. Let's say
4:30
his late brother three who died last
4:33
year he did they they litter as
4:35
well like I said at Buckingham Palace
4:37
and he didn't say as it is
4:39
and they they topped the list again.
4:47
So before we envisage them as we should
4:50
explain what the list is, What does that
4:52
span? What does include. So. We
4:54
track the wealth all Britain's
4:56
most affluent individuals and families.
4:58
And by Uk we count
5:00
people who are British, whether
5:02
they are in the world
5:04
or we tell the people
5:06
who may be born overseas.
5:08
Maybe my company's overseas, but
5:11
we're comfortable that the hair
5:13
the that either. Living here
5:15
over a significant proportion of
5:17
that's asset wealth is here.
5:23
So. If you were born in non
5:25
eats and it wouldn't matter whether you have
5:27
making your what your millions in know eaten
5:29
or in Nova Scotia we we can't use
5:32
as you were say Roman Abramovich and you
5:34
are living for a while in the Uk
5:36
and spend a lot of time here is
5:38
a build some significant you tacit sas then
5:40
for time we we we can't him without
5:42
counting now be to some most to his
5:45
sense he has as a my was as
5:47
you tacit says sanctions and descending not linear
5:49
anymore so we we wouldn't count him sites
5:51
We track my wealth and have been doing.
5:53
Says the such as Excess and Six Years. Track.
5:56
Their wealth in what way? How well
5:58
that their lives The problem this is
6:00
why are you see device beneath my
6:02
eyes and why Yes it's very difficult
6:04
because there is a lot we can
6:06
see but there is a lot that
6:08
we can't so we can. I spend
6:11
my life pretty much trolling through findings
6:13
it at and the Uk companies house
6:15
and on Another similar organizations around a
6:17
well. we're looking at Souder registers a
6:19
public companies looking at ownership of property
6:21
it's and trying to understand where that
6:23
well flies. But obese people listening to
6:25
this who made the plinth sing on
6:27
these people use clever of sure that
6:29
they. Absolutely do so we say. Very
6:32
cast in our rules of engagement. These
6:34
a conservative estimates based. Largely.
6:36
On what we can see. However,
6:39
A. Loss of These People engage with us and
6:41
they taught us about the violations because it's
6:43
been going since a long time and seen
6:45
about a month. As a matter of public
6:47
record, they do service stuff set would otherwise
6:50
not be in the public domain and we've
6:52
got to be careful with that because sometimes
6:54
we can send stuff that's not exactly should
6:56
we say. Cop. Opossums. Not only will
6:58
they try and inflates all that has
7:00
that oh yeah, that's worth two hundred
7:02
million, but will actually sometimes. So you
7:04
documents that aren't legit. is that what
7:06
you may I said he did. Aware
7:08
that yes I may you know we
7:10
just have to be really really Castle
7:12
I mean those I can thinkers a
7:14
couple applies in London property world Who
7:17
tried for a number? It is to
7:19
upend the Sunday Times Racist. This was
7:21
this began under my predecessor. Salad Bar
7:23
said they. Would. Not. And
7:25
initially provide us with information that
7:28
we needed to justify a valuation
7:30
that we were comfortable with. Can
7:32
produce numbers that a credible and
7:34
then. I was concerned in later
7:36
years and I'm so is being shown this
7:38
until rights me so we didn't include them.
7:41
You know if anyone has it? Framed. Is
7:44
on it. I can relate. To. This
7:46
me. I've. Certainly been aware
7:48
all. To. Which sisters
7:50
meeting up and referring to each
7:52
other as by their it says
7:54
number out in via which says
7:57
yes yes or face rude and
7:59
raise answer. Yeah it does make
8:01
keep. Apps Cringe of them
8:03
Vs and difficult question about this
8:05
why do you do is what's
8:07
the use in this So I
8:09
think it's. Really? Important the
8:12
and is functioning democracy. You know
8:14
where wealth lies and where is
8:16
being accumulated. I think there are
8:19
some people in the business
8:21
world who have very high profile
8:23
as but there's a lot says
8:26
secret wealth and our country and
8:28
I. It's important that. We.
8:30
Know wow. Wealth lies
8:33
and where it's being accumulated can we
8:35
find Our research is quoted by people
8:37
across political spectrum left, right and will
8:39
whatever news by academics as well. So
8:41
we do think it has social value.
8:44
but that's not just it We know
8:46
that will say that a lot of
8:48
our readers find many of these people
8:50
normal of the month stretch a much
8:52
nicer many these people in sparring the
8:55
big change of the Sunday Times Racist
8:57
as as the past thirty years in
8:59
particular has been the owed money inherited
9:01
wealth has been. Elbow decide by
9:03
this regeneration as self made entrepreneurial
9:06
talents and they're all million sales
9:08
small business people often done with
9:11
country to look at those people
9:13
and think. I might not
9:15
know. and there's also a call a
9:17
see as at sixty. be fine with
9:19
our younger entrepreneurs the sort of under
9:22
forty times and authority under forty. The
9:24
Cs you doing very well at a
9:26
very young age a basis that us
9:28
go on my son or daughter. Quality.
9:31
Seems detail to to many readers. We
9:33
find the comments below. We find the
9:35
way it's I sat on social media
9:37
those younger stories people find it very
9:39
impressive. Do the ultimately these people are
9:41
becoming wealthy. Not because that robbing banks
9:44
or whole stealing state owned assets are
9:46
Some of us are doing that because
9:48
I. Have the guts and
9:50
gums and see start a business that
9:52
providing goods and services that you and
9:54
I want to buy and after. A
9:57
few years ago, the Business west. Twenty Thirty
9:59
four. Fifty million pounds of that like
10:01
the gym shout man of his name
10:03
M M France has. yep he I
10:06
started stitching these gym clothes by himself
10:08
in that is enormous thing Wayne as
10:10
got shuffled, reason streets and everywhere else
10:12
it seems a yeah I'm just a
10:14
says one of many. And what's so
10:16
interesting thing about. Or it's as
10:18
when I started doing this I thought
10:20
it would be old. Hedge funds will
10:22
be private equity. It'll be. I'm prophecy
10:24
billionaires and see what what we find
10:26
this year on this is Undies answers
10:29
to sort of a new entries. Well
10:31
a couple from from Sheffield The Seasons
10:33
has been a my couple. He. Made.
10:35
A five hundred many pen business in
10:37
within ten twelve years since I teach
10:39
nights. Susie and the wife was a
10:41
teacher. Her husband John thought that some
10:44
I wife was really impressed with the
10:46
quality of teaching eyes as she could
10:48
by side kids say so of how
10:50
taught me said before going to work
10:52
as a solicitor and they need things
10:54
up for a started doing his own.
10:57
Teaching. Eyes twinkled their business.
11:00
Now employs know for the thousand people
11:02
is done very well. It's surprising just
11:05
how diverse in terms of the people
11:07
on it and how they're making their
11:09
fortunes has become. The.
11:16
Headlines this year interestingly is billionaire
11:18
scampering system for that rice. Yeah,
11:21
so Britain has unquestionably experience is
11:23
busy and add boom as his
11:26
past twenty odd years. India, Two
11:28
thousand, There were twenty six billion
11:30
on this and that nonsense. This
11:33
year, it roughly doubled ten years
11:35
later, But in the in the
11:37
following decade between two thousand and
11:40
Seven and twenty Twenty tie with
11:42
this this boom where their wealth.
11:45
Sword. And we reached a
11:47
peak of one hundred and seventy seven
11:49
billionaires we had on the twenty. Twenty
11:51
Two exists and that's now fallen this
11:54
year. Two Hundred and Sixty Five. Now.
11:57
The lots of interesting christians is.
12:00
Why did that the and happen
12:02
a saying very quickly bird you
12:04
A year after years of let
12:06
very low interest rates. definitely had
12:08
a how to be part of
12:10
a in terms of inflating company
12:12
evaluations. Property prices are set alleys
12:15
if you own starts. If you
12:17
had stopped a became more valuable,
12:19
that's part of it. But also
12:21
Britain did become this magnet. So.
12:23
The cigarettes and it's always have it
12:26
helps to a certain extent but the
12:28
in the last fifteen years it's become
12:30
a move a global thing and lots
12:33
of reasons. Lot yes it's some everything
12:35
from the cultural ice as of Wimbledon
12:37
and and for his and private
12:39
schools great universities. The importance of and
12:42
on the stock market should not be
12:44
underestimated as well. Is there some the
12:46
place deflate your business and what
12:48
we sound as we see Missed
12:50
it The Sierra Billionaire Fools times the
12:53
Sixty five. This year and that's
12:55
led us to ask the question
12:57
we think of. Readers will be
12:59
quite interested in this in terms
13:01
of have we reached. Peak
13:03
billionaire me Uk I'm what that means
13:05
for us they will be Some people
13:07
listen to this who take the the
13:09
to that have any bearing on me
13:12
whatsoever. The thought the number as I
13:14
as a good thing though we other
13:16
people who listens as who will take
13:18
that he isis is Nixon's any because
13:20
many of these people. Create. Wealth.
13:23
While. Ahead and my palette of tanks while
13:25
the here as well. So why they
13:27
leaving. As some coins for
13:29
some reason that to be mind tell
13:31
us about one of the as the
13:34
inching new billionaires who. Is. Also.
13:37
Gonna. Leave the best gonna bring a
13:39
never him for Alfie Best who hate.
13:42
Up until I was twenty five so I
13:44
could walk on water. A. Really
13:46
deep. I'm the only
13:48
business tipsy man in the world.
13:51
That. Came out. And said.
13:53
I'm his hip. Six. A
13:59
So. Why a billionaire Yet by
14:01
the way he's he's on trying
14:03
to be. He wants to be
14:05
the first Roman Egypt see British
14:08
billionaire. Very very very proud of
14:10
his Randy Jets erases us is
14:12
this guy. He's made his fortune
14:14
from caravan parks and having been
14:16
born on the side of the
14:18
road near less Deaths he's one
14:20
of what I'm cool as a
14:22
sort of a classic self made
14:24
some the time said sisters of
14:26
the Best business is called is
14:28
called while crest it has. Dozens
14:30
of caravan parks up and down
14:32
the country which he finds to
14:34
in his helicopter boys a few
14:36
hundred people but barrel thousands of
14:38
residents up and down with i'm
14:41
trying. Live in
14:43
his son properties and you've got his
14:45
wealth at was. Nine Four
14:47
Seven million. This year is
14:49
the. Perfect. It has been
14:51
revalued. He's he's determined to be Britain's
14:54
first her Arab needed see Billie now
14:56
says he gets a. Of the
14:58
best as and less ek as he money's
15:00
in Monaco and he said you evidence that
15:02
is enjoying himself them. As a
15:05
picture of him or his arm and
15:07
celibacy. Dana Point of Dame Sediba Exactly
15:09
Daves and ah yes, he is in
15:11
a casino I think yes I mean
15:13
to a Gallup does your mod mode
15:16
by it like enormously stress to me.
15:18
But yes, he's quite from the above
15:20
Uk varmint a. Sudden. Weeks
15:22
ago. He quit the Uk,
15:24
he moved to Monaco size coin on
15:26
it out of coast ago. If you're
15:28
on the cusp of being a billionaire
15:30
oil students here is fine system that
15:32
is A lot of them will turn
15:35
when the say you and say well
15:37
I'm going because it's I say sour
15:39
I'm just so so relaxed and west
15:41
yeah I mean it's it's what not
15:43
not attacks and Nine Nine outside and
15:45
the taxi to know that you don't
15:47
pay income taxes yeah I say. When
15:49
I spoke to. Out the
15:51
best. He was very despondent
15:54
about the Uk and that
15:56
that we are driving. He
15:58
says all wealth creators. The
16:00
way a because of intrusive
16:02
business regulation, high tax and
16:04
he says the final straw
16:06
for him was the government
16:09
looking to axe non don't
16:11
status is very old Quirk
16:13
is persists law you could
16:15
describe as were wealthy people
16:17
If they go overseas interests
16:20
are earning significance mounts money
16:22
they don't pay tax uk
16:24
tax on those overseas earnings
16:26
and many the super rich
16:28
man's been very. Very important than
16:30
salon in and settled on his been Paul
16:33
varies my Britain as as as be able
16:35
to attract so many of see him separate
16:37
from from overseas as well. Next
16:40
I turned to the taxes
16:42
paid fi those were residents
16:44
in the Uk been Omaha.
16:49
As a cast of a physical
16:52
known as non. Issue:
16:55
Over many months, the government will abolish
16:57
the current tax system for non doms.
17:01
Said. He was i think is says
17:03
saddle bit grumpy bad for him.
17:05
This is all symbolic of the
17:07
country that is anti wealth creation
17:09
and he providing opportunities the business
17:11
people who want to grow their
17:13
businesses constantly being skeptical constantly on
17:15
these people's bags and in of
17:17
from from out taxpayers point of
17:19
view. You. Want to make sure that
17:21
those of the top. Are. Paying.
17:24
Their fair share right so as
17:26
to not as is clearly a
17:28
balance to be not test as
17:30
a French finance minister from seventeenth
17:32
century could come back and to
17:34
indulge me on the sleek. Please
17:37
ask fans who came on this.
17:39
This line of a job is
17:41
good. Tax policy is to pluck
17:43
as many said is from the
17:45
geese with the minimum man says
17:48
hissing. And. or
17:50
is this is by suspicion now among
17:52
the superrich that there is too much
17:54
hissing and a lot of these keys
17:57
on our starting to take flight well
17:59
i'm here about some of these
18:01
more plump, bald-hitting geese at the moment.
18:13
Coming up, those fleeing billionaire
18:15
complaints in full, and
18:17
a new entry to the list, a
18:19
son beating his wealthy politician
18:21
dad. That's in a moment. Many
18:32
of us have those stubborn pounds that seem
18:34
impossible to lose, no matter how good we
18:36
eat or how hard we work out. My
18:39
solution is PlushCare. PlushCare is a leading telehealth
18:41
provider with doctors who are there for you
18:43
day and night to partner with you in
18:45
your weight loss journey. They
18:48
can prescribe FDA-approved weight loss medications
18:50
like Wigovi and Zepond for those
18:52
who qualify. Plus, they accept most
18:54
insurance plans. To
18:56
get started, visit plushcare.com/weight
18:59
loss. That's plushcare.com/weight loss.
19:02
When it comes to your finances, you think you've done
19:04
it all. You've saved, you've researched, and you've invested all
19:06
that you can. Now it's
19:08
time to take those investments to the
19:10
next level by using the brand behind
19:12
every great investor, Yahoo Finance. As America's
19:14
number one finance destination, Yahoo Finance has
19:16
everything you need, whether you're a seasoned
19:18
trader or just dipping your toes into
19:20
the market. Join the millions of
19:22
investors who trust Yahoo Finance to guide them on
19:24
their financial journey. For comprehensive
19:26
financial news and analysis,
19:29
visit yahufinance.com, the number
19:31
one financial destination, yahufinance.com. Have
19:35
a catch yourself eating the same flavorless dinner
19:37
three days in a row, dreaming
19:39
of something better? Well, HelloFresh is
19:41
your guilt-free dream come true, baby.
19:43
It's me, Geeky Palmer. Let's
19:45
wake up those taste buds with
19:48
hot, juicy pecan-crusted chicken or garlic
19:50
butter shrimp scampi. Hello
19:53
Fresh. Stop
19:55
dreaming of all the delicious possibilities and
19:58
dig in at hellofresh.com. Let's
20:01
get this dinner party started. Robert.
20:20
What you can take you through
20:22
your latest Sunday Times Rich List
20:24
receive year thirty six and we
20:26
were just talking about some of.
20:29
While. Billionaires are almost billionaires who
20:31
are seemingly getting a bit fed
20:33
up with the case situation. It's
20:35
all about Aussi best is Enormous
20:37
Billionaire. He's of them Monaco now.
20:39
he's quite grumpy about taxes and
20:41
your headline finding. as who, discussing
20:43
fum this is listed as a
20:45
lot of billionaires are. Leaving.
20:48
The U. What kind of
20:50
billionaire who talking about say on
20:52
Sunday seeing a lot of the
20:54
sort of international super it's you
20:56
come to U K in recent
20:58
years. So yeah Lane A, but
21:00
sir you know who's sat Russia's
21:02
richest woman. she's gone to er
21:04
stress Johnny be Farhat who was
21:06
a billionaire before a research associate
21:08
for back of a tech company
21:10
that he bell is now living
21:12
in Switzerland so is saying a
21:14
lot of incest. So super rich
21:16
guy says lot. We identified. Twelve
21:19
who weren't have is of a guy
21:21
could john great in a Us Blair?
21:23
He's moved to at least sea islands
21:25
from the Mon and Norwegian. He seems
21:27
to go back home as well. Know
21:30
why they Gehring I think it. Can.
21:32
Be a combination of factors awesome of
21:34
people. Go is so. in
21:37
a palace i may be retiring
21:39
sen not the case and johnny
21:41
before has case sometimes there are
21:43
personal reasons that the certainly we
21:45
are seeing them baron mind august
21:47
was compiled for the government announced
21:50
that change non doms data science
21:52
alluded to earlier there's a sense
21:54
of other places are getting their
21:56
act together a bed and doing
21:58
more to encourage wealthy people. So,
22:01
Dubai, for example, Singapore,
22:03
even Italy has been mentioned to me
22:05
that the UK just feels a little
22:07
bit not as attractive as
22:10
it once was. And that is thinking just
22:12
entirely about the bottom line on
22:14
your tax liability. That's what's making the
22:16
shift. No, I think it really is.
22:19
Lots of different stuff came back to
22:21
me actually. Really interesting
22:23
conversations with these people. Probably
22:25
the most illuminating conversation I
22:27
had was with a
22:30
British-born billionaire who's made
22:32
his fortune overseas. And
22:34
he was fascinating around how Britain
22:37
is regarded by wealthy people from
22:39
overseas. So, he used
22:41
this great phrase which I liked called
22:44
that Britain is regarded as
22:46
Disneyland of the past in
22:48
that it's just visually stunning.
22:50
It's a great place to be
22:52
entertained and to enjoy. You've got
22:54
these wonderful country houses, you've got
22:56
these wonderful mansions, you've got a
22:59
vibrant cultural scene. There's a lot
23:01
to like about the UK. It's
23:03
special, it's different, it's all the
23:05
history. But
23:07
at the same time, he said, well,
23:10
it's losing its allure. He talked
23:12
about UK properties
23:14
being particularly London
23:16
being very overvalued. And
23:19
that property price
23:21
was just not worth it. The
23:23
value of Belgravian Chelsea Manchester just
23:26
over the top. He talked about London
23:28
being a bit bust in terms of
23:30
getting around London, just being very difficult
23:33
now or harder, they said. You're looking
23:35
sceptical. Do
23:37
me a favour, mate. Yeah, I know
23:39
you mean. I found that quite a
23:42
difficult thing to take seriously. But you
23:44
can sort of see it, can't you?
23:46
If you're used to travelling somewhere
23:49
in Dubai and being able
23:51
to get around in
23:53
10 minutes. And then you face your old voice
23:56
to zoom from here to there with ease and
23:58
not be stuck in sort of. traffic
24:00
around Piccadilly Circus. But
24:02
do you buy that when they
24:04
list these issues that
24:06
are aside from, oh, my tax liability isn't
24:08
as efficient as it could be in Dubai?
24:11
Or do you think it is actually all
24:13
about the tax? I don't think it is
24:15
all about the tax at all. I think
24:17
it's a combination of factors. And everyone's slightly
24:20
different. They often don't make a decision. I've
24:22
always been quite skeptical of the argument that,
24:24
oh, yeah, if you increase taxes by a
24:26
bit, these people will all leave. If they've
24:28
got, for example, children embedded
24:31
in private school or
24:33
university, if they've got a lot of
24:35
friends here, they're not necessarily going to get
24:37
on the next private jet out of here.
24:40
It is more complicated than that.
24:42
And it is push and pull
24:45
factors here that are
24:47
making the UK less attractive
24:49
to the very, very wealthy
24:51
and making them consider other
24:54
destinations in a way that
24:57
they haven't. So it
24:59
will be interesting to see how it develops. And
25:07
do any of them have anything to say about the
25:10
government and a possible change of government? I mean,
25:12
you mentioned Alfie Benn is not being best pleased
25:14
about Jeremy Hunt's decision to scrap non-dom status, which
25:16
I think comes in in April 25, doesn't it?
25:19
Correct. There is a pretty
25:21
wise bit of understanding that Rachel Rees
25:23
and Keir Starmer, if they end up
25:25
in number 10, 11 Downing Street, won't
25:27
have that much scope to do much
25:29
different in terms of tax and spend.
25:31
It's quite a tight envelope either side
25:34
will be working within. So do
25:36
any of them expect some great
25:38
new wealth tax on labour or some
25:40
great change or what? Labour
25:43
will work in partnership with business to
25:45
remove the barriers to investment. And
25:48
that partnership will be embodied in
25:50
a modern industrial strategy. It's
25:54
definitely different from 2019, where there seems
25:57
to be a very real prospect that
25:59
Jeremy Corbyn can become
26:01
Prime Minister. That was the year where I certainly had
26:04
lots of rich sisters saying to me, oh, would
26:06
you mind taking me off this year, please? Well, it
26:08
doesn't really work like that. I
26:11
don't want to be up against the wall when
26:13
the revolution begins. It was one line that were
26:15
used by one hedge fund manager.
26:18
But I think, generally
26:20
speaking, there's not terror at Keir
26:24
Starmer's Labour Party winning a
26:26
general election, anything like that at
26:29
all. From a lot of these people,
26:31
there's a sense of disappointment of how
26:33
the government, what they feel is an
26:36
incompetent government that's struggled to
26:38
get a grip, struggled to make good
26:40
of on the 2019. I'm feeling for
26:42
my phone, Luke, because I want to
26:44
read you a WhatsApp message I had
26:46
from a British-based billionaire who puts it
26:48
better than I would. And
26:52
I was asking him about this very
26:54
question. And he was saying that
26:56
he was not giving money to the Conservative Party
26:58
anymore, having given a lot to them. And
27:01
he said, this lot are
27:03
a bloody joke. But then he goes
27:06
on to say, but they are on both sides
27:08
of the House, three exclamation marks. And
27:10
then he's going back to talking about the 2019
27:12
election, a majority of 80 plus plus plus wasted
27:16
since 2019, heartbreaking.
27:19
So there's this genuine sense
27:21
of disappointment with politicians. And
27:24
it's a real theme that seems to come
27:26
up again and again and again from
27:28
Rich Lister. I'm sure there are people with
27:30
not huge break balances who also take the
27:32
same view that we're not getting
27:34
the quality people into
27:36
British politics that we
27:39
once were. But no, no, no, I have
27:41
not picked up terror at the prospect of
27:43
a of the Labour government by any stretch
27:45
of imagination. No. Can you tell me about
27:47
some new entries to go all top of
27:49
the pops? Interestingly, it seems what
27:51
we're talking about somebody who runs caravan parks a
27:53
moment ago, but they're quite
27:55
vintage professions that the some
27:57
of these new entries out. I mean, it's not the sort of
28:00
AI and FinTech pioneers, I'm reading here
28:02
about a chain of high street travel
28:04
agents who knew they were still a
28:06
thing, and plumbing supplies. At
28:08
Victorian Plumbing, beautiful bathrooms are what
28:10
we do best. Like this Carlton
28:12
Bathroom Suite for just
28:14
£449. So for bathrooms
28:16
that are out of this world,
28:18
oh dear, head to victorianplumbing.co.uk Yeah,
28:22
I mean, it takes all sorts, right? I mean, that
28:24
seems to be one of the big themes of the
28:26
rich list since I've been doing it really, which is
28:29
just every walk of life it remains. So Dame Irene
28:31
Hayes, a former civil servant,
28:33
built up the Hayes travel
28:35
agent chain with her late
28:37
husband John, and joining
28:40
the rich list in her mid 70s.
28:42
And as you say, back to the
28:44
future in a way, aren't we all
28:46
buying our holidays on lastminute.com? Well, lots
28:49
of us actually want to wander into
28:51
a travel agent and talk to people. I mean, Dame
28:53
Irene, probably best known for saving
28:55
hundreds of jobs when Thomas Cook went
28:57
down. And by buying
29:00
that business and managing to keep hundreds
29:02
of jobs from that. So
29:04
yes, she makes her debut. That business has
29:06
been flying done, really, you know, profits of
29:08
more than 50 million pounds in
29:10
the latest year years. And you mentioned
29:12
Mark Radcliffe and Victorian Plumbing. So this
29:15
is a guy who in the year
29:17
2000, he started a plumbing supplies business
29:19
from his parents garden shed.
29:22
Done very well, taking it onto the
29:24
stock market. Sheds done pretty well. You know, as
29:26
you say, old school business, just from, you know,
29:29
providing stuff that people want. And Mark
29:31
Radcliffe, we're putting him at Watts on the list.
29:33
375 so he's taught
29:36
towards the no notes that
29:38
well done. On
29:41
the same level as interestingly,
29:43
Ewan Blair, the
29:45
son of Frittie Tony Blair, who
29:48
not an old school business metaverse
29:50
his education tech
29:52
business, sold a big
29:55
slug of that business, valuing it north of
29:57
north of a billion pounds and he's kept
30:00
You know, good, he's a silver majority shareholder,
30:02
so he makes his debut. Well, above
30:04
his dad, a lot of people thought his dad did well,
30:06
but you and his team seems to be doing even better.
30:14
How many people on the list? 350 this year. So
30:16
350 people. Which
30:19
one would you like to be? You
30:22
must have gone through a list and thought,
30:24
actually, I'd like Dame Irene Hayes's life. Or
30:26
I'd like that person who's... If
30:28
I could trade places. It would
30:30
be you. Goodness me, that's so hard.
30:34
Well, I mean, for Elton John. Can
30:37
I have a piece of it? Cool, good, you got
30:39
it. Well, Mick Jagger makes a return this year. For
30:43
why? That new album and that touring
30:45
is doing very, very well. He
30:47
creeps to the bottom with Keith Richards. I
30:49
mean, goodness me, if you're still filling stadiums at
30:52
around 80 years of age, come on, Luke. I mean,
30:54
we'd be quite happy with that, wouldn't we? Yeah. That
30:57
was Robert Watts, Mick Jagger. Thank you very much. I'll
31:27
give you, wherever you're listening to this, it will help other people
31:29
track us down. Also, if you
31:31
want to get in touch with us
31:33
with a suggestion, maybe just a hello.
31:35
You can email us at thestoryatthetimes.co.uk. When
32:06
it comes to your finances, you think you've done
32:08
it all. You've saved, you've researched, and you've invested
32:10
all that you can. Now it's time
32:12
to take those investments to the next
32:14
level by using the brand behind every
32:16
great investor, Yahoo Finance. As America's number
32:18
one finance destination, Yahoo Finance has everything
32:20
you need whether you're a seasoned trader
32:22
or just dipping your toes into the
32:24
market. Join the millions of investors who
32:27
trust Yahoo Finance to guide them on their financial
32:29
journey. For comprehensive financial
32:31
news and analysis, visit Yahoo
32:33
Finance dot com. The number
32:35
one financial destination, Yahoo Finance
32:37
dot com. Hold
32:42
up. What was that? Boring. No
32:44
flavor. That was as bad as
32:46
those leftovers you ate all week.
32:49
Kiki Palmer here. And it's time
32:51
to say hello to something fresh
32:53
and guilt-free. Hello, fresh. Jazz up
32:55
dinner with pecan-crusted chicken or garlic
32:57
butter shrimps can be. Now that's
32:59
music to my mouth. Hello, fresh.
33:01
Let's get this dinner party started.
33:03
Discover all the delicious possibilities at
33:05
hello, fresh dot com.
Podchaser is the ultimate destination for podcast data, search, and discovery. Learn More