Leicestershire has the fourth largest number of multi-millionaires in UK
Leicestershire has the fourth largest number of multi-millionaires in the UK, a new report has revealed.
The county contains 178 multi-millionaires, more than Essex, Oxfordshire, Kent and Hampshire – while Leicester has 67 multi-millionaires, ranking it 12th among other UK cities.
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Martin Traynor, chief executive of Leicestershire Chamber of Commerce, said: "This is a huge boost for the city and county. It's not only the fact we have a large entrepreneurial culture, but that people who have made their money in the area are staying in the area."
A multi-millionaire is defined as someone valued at more than £18 million in the report from WealthInsight, which specialises in compiling data on the wealthy.
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Building tycoon David Wilson, who was born in Ibstock and now lives at Lowesby Hall, in east Leicestershire, is worth £365 million, according to the Sunday Times Rich List.
He made his money by growing his family construction firm before selling it in 2007.
"It's surprising in some ways, but then there is a strong work ethic here," he said. "Leicestershire people tend to be unassuming and just get on with it.
"There's also quite a lot of big businesses based here. It's the perfect location for businesses with it being so central.
"This is why companies like Barratt (the UK's biggest house builder) have based themselves here. They could have gone anywhere."
Bill Adderley is the head of Leicestershire's richest family, which is worth an estimated £710 million.
Mr Adderley, who lives near Uppingham in Rutland, was born in Leeds, but started homeware group Dunelm in Leicester market in 1979 with his wife Jean. Now based in Syston, the company has more than 120 stores and is worth more than £1 billion.
"It doesn't surprise me," he said. "It's the combination of having a high number of entrepreneurial people and people willing to help businesses grow.
"When I started my business I found the people and authorities of Leicestershire very helpful.
"One of the good things is that if you start a business in Leicestershire and make some money you don't find yourself hankering for more glamorous locations.
"You can move up-market within Leicestershire and Rutland. You don't need to go far to find yourself in some of the most beautiful parts of the country, and the schools are also very good."
Greater Manchester tops the league table when it comes to the number of multi-millionaires in UK counties, with 374. Leicester beats Norwich, Nottingham and Oxford, but is way behind London, which leads the city rankings with 4,220.
It is thought many of the multi-millionaires living in Leicester are Asian people who are reluctant to move away from family, friends and places of worship.
Jaspal Singh Minhas, president of Leicestershire Asian Business Association, said: "There's quite a lot of wealthy Asian people in Leicester, particularly in the Stoneygate area.
"You find a lot of them are still involved in a business, and the businesses are in the city and they don't like travelling too far," he said.
"Their friends and places of worship are also close by."
In total, there are 10,000 multi-millionaires in the UK.
Comments
by MusicalK
Monday, September 24 2012, 4:46PM
“Just checked my balance and am pleased to have moved from the 'millionaire' to 'multi-millionaire' status. I am happy to pay plenty of tax, so long as it's spent wisely (i.e. not on weapons).”
by Patrick4939
Monday, September 24 2012, 4:26PM
“He made his money by growing his family construction
What sort of English is this LM.
By expanding
or even
due to the growth of
but by growing ?
Makes the firm sound like a tree or flower !”
by Graham_LE8
Monday, September 24 2012, 3:17PM
“I doubt many wealthy people will be bothered in the slightest at Nick Cleggs' latest proposals, although there'll be plenty of hand rubbing amongst the accountants and financial consultants of the rich and wannabes...”
by reubedube
Monday, September 24 2012, 3:04PM
“Is anything Nick Clegg says worth listening to any longer ? In my opinion the answer is no !
That he has apologised for not keeping a pre-election promise he made doesn't alter the fact that he did indeed fail to keep it. We can all quite easily put forward reasons / excuses if we break a promise, for doing so, but that changes nothing. Promise remains unfullfilled !
We'll probably have Cameron next apologising for the fact that very many of us are even more worse off now after the Coalitions period in office to date, than we were when they took over.
He can of course continue to blame Labour for all of our present 'ills', as is his usual way, or of course he can blame the rest of the world, that too is an easy get-out for him.
As a retired person in receipt of my state pension (which I contributed toward during 51 years in paid employment -fortunately never ever signing on the 'dole'),and an ex-employer's pension
which of course I also contributed toward over many years, my weekly income has this year been reduced by this government's cut-backs. Due to be further reduced I understand in 2013 when further benefit cuts are to be implemented.
In this mornings newspaper I read yet another 'Clegg gem'. He is reported to have said at the party's conference in Brighton yesterday, "We are going to do something that hasn't happened before: we are going to work out ways in which parents and grandparents can help their children and grandchildren buy a property of their own. We are going to allow those parents and grandparents to act as a guarantee if you like so their youngsters can take out a deposit and buy a home". This is by making use of monies from parent's / grandparent's 'pension pots'.
Does this man Clegg live in the real world ? Doesn't he realise that we do not all have goldplated
pensions; that many of todays grandparents needed to and did, help out their own parents in their old age because many of that generation had never had the chance to save for their own retirement.
I have every respect for the self-made millionaire who has made their millions by their own hard work and not by unfairly exploiting others, but for those who are rich due to inheritance, who then preach as to how 'the other half' should conduct their lives, I have no time at all.
Finally, the thought that any millionaire may be "shaking in their boots", following Nick Clegg's statement at the Lib Dem conference (as suggested by 'Rodders65'), makes me smile. Rodders certainly credits Clegg as being much more influential than I would give him credit for.”
by Bob491
Monday, September 24 2012, 11:31AM
“Multi-millionaires are fine if they came by their money honestly and pay their taxes as they should. Wealthy tax avoiders are another matter.”
by leicestermale
Monday, September 24 2012, 11:13AM
“"It is thought many of the multi-millionaires living in Leicester are Asian people who are reluctant to move away from family, friends and places of worship."
Time to get the Equality commision involved, since there is an unequal distribution of Asian millionaries in Leicestershire, they need to be moved to parts of the country where there are too many none Asian millionaires? I wonder how many Black millionaires there is? Perhaps they should apply to the Equality Commision for a grant to make the numbers up? Is there figures for Homosexual millionaires?”
by LikeItaLot
Monday, September 24 2012, 11:08AM
“Using a whole county does not tell a story, as most counties will have wealth and poverty. Now a single town or defined rural region would.
How about statistics from the other end of the economic scale as a comparison of being hard up.”
by PLYMFOX01
Monday, September 24 2012, 9:21AM
“I agree with Nick Clegg's proposal. The Tories will be agaist it of course because most of those in Government are millionaires so they would have to pay more.”
by Rodders65
Monday, September 24 2012, 9:09AM
“They must be all shaking in their boots after Nick Cleggs statement at the Lib Dem conference.”