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Wealth of richest 1,000 Britons 'rises 15% in year'

Published on May 18, 2014 8:54 PM

LONDON (AFP) - Britain's 1,000 richest people have enjoyed a "phenomenal" increase of 15 per cent in their wealth in the past year, according to The Sunday Times newspaper's annual Rich List.

Together they are worth 518.975 billion pounds (S$1 trillion), an increase of 15.4 per cent on last year's total of 449.654 billion pounds.

Even accounting for inflation, this is well above the 412.846 billion pounds recorded before the financial crisis began in 2008.

"I've never seen such a phenomenal rise in personal wealth," said Philip Beresford, who has compiled the list since 1989.

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