Hedge fund manager Michael Platt from Preston has once again made the Sunday Times Rich list – but who is he and how did he amass his vast personal fortune of £12bn?
With the help of Sunday Times Rich List data, these are the 8 richest people in the North West including those under 40.
The list is based on identifiable wealth, including land, property, other assets such as art and racehorses, or significant shares in publicly quoted companies.
1. Sir Jim Radcliffe
Despite losing over £6 billion this year Sir Jim Radcliffe, 71, is the richest person in Northwest, according to this year’s edition of The Sunday Times Rich List. He is the chairman and chief executive officer of the INEOS chemicals group, which he founded in 1998. Sir Jim grew up on a council estate near Manchester, but didn’t start Ineos until his forties. Early this year, Ratcliffe also secured a 25 percent stake of his childhood football club, Manchester United. His wealth for 2024 currently stands at £23.519bn. Photo: The Sunday Times
2. Michael Platt
Michael Edward Platt, 56, from Preston is a British billionaire hedge fund manager. He is the co-founder and managing director of BlueCrest Capital Management, Europe's third-largest hedge-fund firm which he co-founded in 2000. His fortune stands at £12bn for 2024. Photo: The Sunday Times
3. The Duke of Westminster
The Duke of Westminster Hugh Richard Louis Grosvenor who recently announced his move to Cheshire, retains his position as the richest person under 40 in the UK, after he inherited his title and a vast land and property portfolio when he was 25. Coined as the ‘UK’s most eligible bachelor’ the Duke will marry Olivia Henson, 31, at Chester Cathedral next month. The Duke is one of the few young people who also appear on the full Rich List. At the age of 33 the billionaire’s fortune now stands at £10.127 billion Photo: The Sunday Times
4. Tom Morris
Thomas Joseph Morris, 70, is a British billionaire businessman and the founder of retail chain Home Bargains. Tom comes from a retailing family that has run shops for three generations. The billionaire established his first store in 1976, selling beauty and health-care products in the north of England. The chain expanded its product line to groceries, household items and other general merchandise. Following the family tradition, TJ Morris remains a family-run and family-owned business. Their 2024 wealth so far is £6.673bn. Photo: The Sunday Times
5. The Issa brothers
Mohsin and Zuber Issa are British-Indian billionaire brothers and businessmen who founded Euro Garages (later renamed EG Group) in 2001, a Blackburn-based operator of Asda filling stations, convenience stores and food service providers across Europe, the United States and Australia. Their 2024 wealth currently stands at £5bn. Photo: The Sunday Times
6. Tom and Phil Beahon
The wealthiest under 40 in the North West included Tom, 33 and Phil Beahon, 30, of fashion and clothing sportswear Castore. The brothers first set up the premium label in 2016 from their kitchen table - after becoming frustrated at the lack of high-quality men's sportswear in the market. Since then, the brand has become a £1 billion company. As well as this, Castore also works with Formula 1 team McLaren, Premiership rugby side Saracens and a growing roster of football clubs, including Rangers, Newcastle United and Wolverhampton Wanderers. Between them they have amassed a fortune of £334m in 2024. Photo: The Sunday Times