But when it comes to the Sunday Times Rich List, the Barclay brothers are no longer kings of the castle.
The twins’ long reign as the richest Channel Islanders has come to an end following the arrival of Chelsea FC owner Roman Abramovich.
The Russian businessman, who, as exclusively revealed by the JEP earlier this year, has been granted high-value resident status in Jersey, has soared to the top of the regional list with a fortune so huge it makes the Barclays look positively poor.
And it was rather a good year for the 51-year-old – not only did he get his quallies, but his personal wealth increased by £1.28 billion, taking his total fortune to £9.333 billion.
Although Sir Frederick and Sir David Barclay saw their wealth swell by £200 million, they are lagging behind the football boss, with a fortune of £7.4 bn – up £200m.
The top 20 richest people in the islands now have a combined total wealth of £30.227 billion – up £1.679 on the previous year.
Robert Watts, the compiler of The Sunday Times Rich List, said: ‘The Channel Islands continue to be a magnet for some of the world’s wealthiest people, especially those choosing a quieter life after building their fortunes.
‘The opportunity to pay less tax is only part of the islands’ draw. A strong wealth management industry, stunning scenery and proximity to the mainland make the islands feel like a place where the super-rich can have it all.
‘But there is a clear challenge for the islands. The authorities need to ensure these new arrivals contribute their fair share while they are here and do not jeopardise the islands’ unique character.
‘No one wants the Channel Islands to change into another billionaires’ playground.’
Jersey’s Rich List
1. Roman Abramovich, £9.333 bn – up £1.28 bn
Although it’s not known if Roman Abramovich has got round to buying a house after being granted high-value resident status, if he has, it’s probably a sizeable pad. In fact, if he wanted, he could probably buy himself a parish. As well as owning one of the world’s biggest football clubs, he has five homes, the world’s second-largest private superyacht, a vast art collection and a Boeing 767. According to the Rich List press team, Mr Abramovich has been included in the Channel Islands regional list as this is where he has most recently applied for residency.
2. Glenn Gordon and family, £2.572 bn – up £202m
The Gordon family have two excellent reasons to raise a glass – firstly, they have entered the Channel Islands section of the Rich List for the first time, and secondly, they own the Grant’s whisky business. The family appeared in the very first Sunday Times Rich List in 1989, when the operation, based in Scotland, was worth £50 million. They have clearly shifted a lot of bottles over the years, as they are now worth over two and a half billion pounds. William Grant’s eponymous distillery in Banffshire has been producing whisky since 1887 and the company is chaired by Jersey-based Gordon (60), the founder’s great-great-grandson. As well as Grant’s, the company also encompasses other famous labels such as Glenfiddich, Balvenie and Hendrick’s gin.
3. Sir Philip and Lady Green, £2 bn – down £787m
It hasn’t been a great couple of years for the former BHS owner. Following the collapse of the high-street giant, and the subsequent scandal over the pension shortfall, Sir Philip suffered losses of £200 million in 2015-16. His woes continued last year as sales in his Arcadia group, which owns Top Shop and Miss Selfridge, continued
to fall. He lost another £787 million last year. But don’t bring out the collection buckets just yet – he still has £2 billion to his name.
4. Simon Nixon, £1.25 bn – up £74m
As the founder of the price comparison website moneysupermarket.com, Simon Nixon knows a thing or two about managing his pennies. He has been a constant figure in the Channel Islands section of the Rich List since moving to Jersey several years ago and building himself a house overlooking St Brelade’s Bay.
5. The Clarke family, £500m – no change
When considering the extent of the Clarke family’s property empire, it would be simpler to ask what land they don’t own. The family run development company C Le Masurier, which owns, or has developed, large parts of St Helier and other parts of the Island. The former head of the company was Fred Clarke, an ex-St Helier Constable.
6. Tony Buckingham, £425m – no change
Everyone knows there is money in oil and diamonds. But Anthony Leslie Rowland Buckingham knows it better than most. Known as Tony to his pals, the businessman and avid sailor has been a permanent fixture in the local section of the Rich List for years.
7. Gordon Crawford, £400m – up £278m
Gordon Crawford amassed his fortune in the computer software business, making £76 million from the sale of London Bridge Software in 2004.
8. Ray O’Rourke and family, £306m – no change
The 71-year-old Irish businessman, the chairman and chief executive of the construction multinational Laing O’Rourke, saw no change in his wealth last year and is still worth £306 million – the equivalent of the entire fortune of Sir Elton John. Or about two-and-a-half Phil Collins.
9. Richard Griffiths, £300m – up £120m
Richard Griffiths is living proof that you don’t have to be a straight-A student to get on in life. He left school at 16 to work on the family’s sheep farm before meeting a greyhound trainer with City clients who would place huge bets on the dogs. He quickly gained an interest in shares, reading newspapers and educating himself in the ways of the market. His first investment – of £1,000 – in 1985 made an impressive £300 profit. He went on to take his stockbroker and investment bank business from a start-up to FTSE 250 member in five years. Today, as a fund manager, he has interests in 26 companies worth £256 million.
10. Graham Tuckwell, £269m – down £78m
Losing £78 million in 12 months sounds like a bit of disaster. But when you enjoy a wealth in excess of a quarter-of-a-billion pounds, perhaps it is not too much to fret over. The Australian investment banker may have seen his personal fortune fall in the last year but he is still the tenth richest Jersey resident and 14th richest in the Channel Islands.
11. James Vernon, £256m – no change
James Vernon, the co-founder of hedge fund management firm Brevan Howard, saw no change in his personal fortune.
He is worth the same amount as exactly two Jimmy Pages or half a Sir Mick Jagger.
12. David Crossland and family, £200m – no change
The prolific businessman bought the airline Airtours in 1982 and made an estimated £74 million from his stake in the US cruise business Carnival. He has a number of other business interests.
13. Con Folkes and family, £121m – no change
Constantine Folkes, whose Folkes Holdings property and manufacturing business operates across the UK and South Africa, also saw no change in his wealth. He is worth almost two Gary Barlows.
14. Brian de Zille and family, £120m – no change
Brian de Zille, who made his fortune from the popular clothes brand, Sweater Shop, is the ‘poorest’ richest Jersey resident to make the Sunday Times Rich List.
