Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/11/2014 (1 year ago)

Catholic Online (www.catholic.org)

British capital is home to majority of world's billionaires

It's cold, foggy and rainy most of the year. No matter: London, England hosts the most billionaires in the world - far away from the expected sunny travel sports one sees in brochures. Furthermore, tiny Britain has more billionaires per head of population than any other country, according to new data.

On the other side of the coin, the Trussell Trust, Britain's largest food bank network, said the number of people that had approached them for emergency food had risen 163 percent in the year to the end of March to just over 913,000 people.

On the other side of the coin, the Trussell Trust, Britain's largest food bank network, said the number of people that had approached them for emergency food had risen 163 percent in the year to the end of March to just over 913,000 people.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

5/11/2014 (1 year ago)

Published in Business & Economics

Keywords: Billionaires, London, hunger


LOS ANGELES, CA (Catholic Online) - The revelation of Britain's super-rich may prompt debate in a country where many still struggle financially. Food banks here are a fact of life, despite economic growth recently returning to levels not seen since the 2008 financial crash
London is home to 72 of Britain's 104 sterling billionaires. This places the foggy city far ahead of Moscow in second place with 48 people worth the equivalent of one billion pounds or more. New York is in third place with 43 billionaires, San Francisco in fourth place with 42, Los Angeles has 38 and Hong Kong in sixth place with 34.

Indian-born brothers Sri and Gopi Hinduja top the British list with a fortune of $20.1 billion in U.S. Dollars. |The brothers' cache has been amassed through the family-owned Hinduja Group, which has interests in oil, banking, the automotive industry, property and the media.

The pair nudged last year's top of the billionaire list, Alisher Usmanov, to second place. The Uzbekistan-born Russian's fortune has been hit by the fall in value of the ruble and Russian stock prices due to the Ukraine crisis.

Others crowding the top 25 include Ukrainian-born Internet, chemicals and music industry investor Len Blavatnik in fourth place, property magnate the Duke of Westminster, Gerald Grosvenor, in tenth place, and Saudi-born Mohamed Bin Issa Al Jaber and his family, known for their hotel and resort investments, in thirteenth place.

It's been a good year overall for the United Kingdom. It's the first year the minimum wealth of Britain's 50 richest people has topped 1.5 billion pounds. Only 700 million pounds was needed to join the exclusive club a decade ago.

Find out how you can fill the gaps to end world hunger - by going here!

Britain's 104 billionaires have a total wealth of 301.13 billion pounds, compared to 88 a year ago with a combined worth of 245.66 billion pounds.

On the other side of the coin, the Trussell Trust, Britain's largest food bank network, said the number of people that had approached them for emergency food had risen 163 percent in the year to the end of March to just over 913,000 people.

This figure is "shocking," particularly as it does not include those helped by other food providers or the large number of people too ashamed to seek help and who cope by eating less food.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2015
Universal:
That political responsibility may be lived at all levels as a high form of charity.
Evangelization: That, amid social inequalities, Latin American Christians may bear witness to love for the poor and contribute to a more fraternal society.



Comments


More Business & Economics

Big name companies demand Planned Parenthood to remove names off list of corporate donors Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

Representatives from Coca-Cola, Ford Motor Co. and Xerox openly state they've requested Planned Parenthood to take their company's names out as corporate donors to the controversial organization. MUNTINLUPA, PHILIPPINES (Catholic Online) - Planned Parenthood is now ... continue reading


Gun sales in the United States dramatically boost after massacre shootings Watch

Image of

By Atarah Haely (NEWS CONSORTIUM)

FBI's latest background check data shows the gun industry spiked in sales at about 11 percent last June. There are about 1.53 million background checks done, making it the busiest June ever since the agency started keeping track in 1999, according to CNN. The massive ... continue reading


Microsoft slammed for thousands of layoffs while demanding increase in immigration Watch

Image of

By Atarah Haely (NEWS CONSORTIUM)

About 7,800 Microsoft employees are in line to be fired, according to a company announcement last Wednesday. Most workers are from the seemingly failing mobile phone business, while Microsfot is said to fire a majority of Nokia's remaining employees ever since ... continue reading


Subway and Jared break up after controversial police raid at spokesman's home Watch

Image of Jared Fogle is known for his massive weight loss on a

By Nikky Andres (NEWS CONSORTIUM)

Subway spokesman, Jared Fogle's house was raided by FBI agents and Indiana State Police, two months after the former executive director of Fogle's foundation was arrested with charges of child pornography. MUNTINLUPA, PHILIPPINES (Catholic Online) - In their statement, ... continue reading


'Enough with all the rules' firework industry calls out to Obama Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

This year, more states have allowed people to buy pyrotechnic materials, such as sparklers and Roman Candles. In fact, this year has been wonderful for fireworks manufacturers, since the projected 2015 sales of celebratory explosives are estimated to top $1 billion. ... continue reading


Whole Foods accused of greatly overcharging customers Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

Whole Foods, the American foods supermarket chain that specializes in organic goods, has been accused of massive overcharging. The New York City Department of Consumer Affairs explained they have discovered "systematic overcharging for pre-packaged foods" at the city's ... continue reading


Strange and powerful 'boat swallowing' vortex appears in Lake Texoma Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

A strange, giant vortex, estimated to be around 8-feet in diameter, has appeared in Lake Texoma. This occurrence is surprising and perhaps threatening. However, there is an explanation. MUNTUNLUPA, PHILIPPINES (Catholic Online) - Lake Texoma is known as one of the ... continue reading


Is it time to stash money under mattress? 'It's time to hold physical cash,' fund manager says Watch

Image of Ian Spreadbury declined to predict the exact trigger but said it was more likely to happen in the next five years rather than 10.

By Catholic Online (NEWS CONSORTIUM)

Is it time to cash your paycheck and then stick it into a hatbox for a rainy day? According to British fund manager Ian Spreadbury, who invests more than £4 billion of investors' money is gravely concerned that a "systemic event" could rock markets. The upset ... continue reading


In spite of strong showing, Ron Paul predicts Apocalypse on Wall Street Watch

Image of Ron Paul has predicted economic doomsday previously. As stocks continue to make new highs, he remains just as convicted as ever that there

By Catholic Online (NEWS CONSORTIUM)

Things seem to be on an even keel right now but according to former Representative Ron Paul, the Federal Reserve's easy money policies have left stocks and bonds are on the verge of a massive collapse. LOS ANGELES, CA (Catholic Online) - "I am utterly amazed at ... continue reading


The U.S. public is asked - Which woman do YOU want to see on the new $10 bill? Watch

Image of The new $10 bill will also include a

By Catholic Online (NEWS CONSORTIUM)

It's a question being posed to the American public... which American woman do they want to see on the new $10 bill? The revamped $10 bill will go into effect in the year 2020. U.S. Treasury Secretary Jack Lew wants the next generation of U.S. currency to ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Exodus 33:7-11; 34:5-9, 28
7 Moses used to take the Tent and pitch it outside ... Read More

Psalm, Psalms 103:6-7, 8-9, 10-11, 12-13
6 Yahweh acts with uprightness, with justice to all ... Read More

Gospel, Matthew 13:35-43
35 This was to fulfil what was spoken by the prophet: ... Read More

Saint of the Day

Saint of the Day for July 28th, 2015 Image

St. Innocent I
July 28: Innocent was born at Albano, Italy. He became Pope, succeeding ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter