Britain's billionaires who furloughed staff under coronavirus scheme exposed.
At least 20 British billionaires have benefited from the government's furlough scheme since it was launched in March, it has been reported.
It comes as the country's super-rich have
lost more than £54billion in the past two months amid the coronavirus pandemic, according to the Sunday Times Rich List.
Chancellor Rishi Sunak has suggested that 7.5million workers at around one million businesses are currently furloughed, but the use of the scheme by some billionaires has created controversy.
Five of the country’s 10 richest people own companies that have furloughed workers through the scheme, in which staff are paid 80 per cent of their salary by the government - up to £2,500 a month.
They include Sri and Gopi Hinduja, who topped last year’s Rich List with £22billion.
The two brothers, who are down £6billion this year, have furloughed part of their 360 employees at Optare, their North Yorkshire-based bus-making firm.
Sir Jim Ratcliffe, co-owner of The Pig hotel chain, has been criticised after furloughing most of his staff.
A further three of the top ten richest people have also taken advantage of the furlough scheme – the Reuben brothers, Sir Leonard Blavatnik and the Weston family.
Some of the biggest users of the scheme – like Tim Martin’s (£311m) Wetherspoons pub chain and the Weston family’s (£10.53bn) Primark clothing brand – have put tens of thousands of staff on the taxpayer’s payroll.
Another wealthy employer who has caused controversy by making use of the scheme is Sir Richard Branson, who has a £3.625bn fortune and has put 8,000 Virgin Atlantic staff on furlough.
Sir Philip Green (£930m) has furloughed 14,500 of the 16,000 staff in his Arcadia retail empire, The Sunday Times reports.
It is also understood that Mike Ashley (£1.949bn), whose Frasers Group has 18,000 employees, has put most of his staff on furlough.
Several high-profile names like Joe Lewis (£3.992bn) and Daniel Levy (£329m), both owners at Tottenham Hotspur Football Club, and fashion star Victoria Beckham (£370m), have U-turned on using the scheme after public criticism.
Despite the government support, some companies have refused to shut, including Holland & Barrett, owned by Mikhail Fridman (£10.234bn), the UK’s 11th richest person.
Workers at the chain have signed an online petition calling for the “essential store” to close, claiming it poses a risk to their health.
This year’s Rich List, which includes the top 1,000 wealthiest people in the UK, has a combined wealth of £743billion – £29billion less than the total of last year’s entrants.
London remains the world’s billionaire capital with a total of 89 born or living in the city.
The pop star Rihanna, who now lives in London, has made her Rich List debut with an estimated fortune of £468million.
Inventor Sir James Dyson has been declared the UK’s richest person for the first time with a portfolio now valued at £16.2billion.
Sir James, 72 , topped the list despite losing £500 million of his own money on an electric car project which was scrapped.
The top 10 richest people for 2020 are:
1. Sir James Dyson and family, household goods and technology, £16.2 billion
2. Sri and Gopi Hinduja and family, industry and finance, £16 billion
3. David and Simon Reuben, property and internet, £16 billion
4. Sir Leonard Blavatnik, investment, music and media, £15.78 billion
5. Sir Jim Ratcliffe, Ineos chemical giant, £12.15 billion
6. Kirsten and Jorn Rausing, inheritance and investment, £12.1 billion
7. Alisher Usmanov, mining and investment, £11.68 billion
8. Guy, George and Galen Jr Weston and family, retail, £10.53 billion
9. Charlene de Carvalho-Heineken and Michel de Carvalho, inheritance, brewing and banking, £10.3 billion
10. The Duke of Westminster and the Grosvenor family, property, £10.29 billion.
List compiler Robert Watts said: "Ever since the financial crisis of 2008-9, Britain's wealthiest people have become richer and richer.
"Covid-19 has called time on their golden period. This year's rich list paints a picture of Britain on the brink of calamity - two months after lockdown and already billions of pounds have been wiped out.
"You may not like the super-rich, but it is hard to deny that our economy will need the jobs they create and the taxes they and their companies pay if we are to escape a prolonged recession that causes further misery to millions."
10. The Duke of Westminster and the Grosvenor family, property, £10.29 billion.
