Sunday Times Rich List 2025: UK billionaires in decline but NI’s richest man adds £2.2 billion

The Sunday Times Rich List 2025, released online today, has marked a historic low in the number of UK billionaires, with figures falling for the third consecutive year.

From a peak of 177 in 2022, the count now stands at 156 — the sharpest decline in the 37-year history of the publication.

Despite the national downward trend, Northern Ireland’s top ranks tell a different story of resilience, entrepreneurship, and legacy wealth.

The Sunday Times Rich List is live online today and will be in the paper this Sunday, May 18. This weekend’s 76-page special edition of The Sunday Times Magazine reveals the wealth of the 350 richest people in the UK, as well as The Sunday Times Giving List in association with the Charities Aid Foundation.  

Stephen Fitzpatrick Tops Northern Ireland with £3.073 Billion

Topping the Northern Ireland Rich List for 2025 is Stephen Fitzpatrick, founder of OVO Energy, whose personal wealth soared to £3.073 billion, a rise of £2.239 billion year-on-year. Fitzpatrick now ranks 54th nationally, demonstrating the continued rise of green energy and tech-driven entrepreneurship in the UK’s wealth landscape.

Lady Ballyedmond Remains a Pillar of Northern Ireland Wealth

Taking second place in Northern Ireland is Lady Ballyedmond and family, whose wealth rose by £8 million to £922 million, reflecting ongoing growth tied to pharmaceutical firm Norbrook Laboratories. She is ranked 172nd in the UK, and her presence underscores the enduring value of family-led businesses in the province.

Key Northern Irish Figures on the 2025 List:

Among the new entries is Derek Keys, founder of Euro Auctions, debuting with a net worth of £400 million, while Eoin McCann — despite past controversy surrounding a price-fixing scandal — recorded a significant increase of £51 million, bringing his total to £462 million.

National Trends: Billionaires Down, Wealth Contracts

The combined wealth of the 350 richest in the UK now totals £772.8 billion, a 3% drop from the previous year. The minimum threshold for inclusion has remained flat at £350 million, a sign of stagnation among the top tiers.

Robert Watts, compiler of The Sunday Times Rich List, commented:

“The Sunday Times Rich List is changing. Our billionaire count is down and the combined wealth of those who feature in our research is falling. We are also finding fewer of the world’s super rich are coming to live in the UK.”

He added:

“We expected the abolition of non-dom status would anger affluent people from overseas. But homegrown young tech entrepreneurs and those running centuries-old family firms are also warning of serious consequences to a range of tax changes unveiled in last October’s budget.”

Philanthropy Still Strong

Despite this downturn, philanthropy has remained a focal point: the 100 most charitable Rich Listers donated a combined £3.7 billion to good causes over the past year, showcasing a continued commitment to social impact among the ultra-wealthy.

Watts observed:

“Our research continues to find a wide variety of self-made entrepreneurs building fortunes not just from artificial intelligence, video games and new technologies but also mundane, everyday items such as makeup, radiators and jogging bottoms.”

Northern Ireland’s Young Rich: Rory McIlroy Leads Under-40s

In the under-40s category, Rory McIlroy remains Northern Ireland’s richest young individual, as the cut-off to make the 40 Under 40 list nearly doubled to £100 million, up from last year’s threshold.

For the full 350 richest people in the UK go online at www.thetimes.com/sunday-times-rich-list