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

Islamic State attempts to replace the U.S. dollar with gold coins Watch

Image of A five denar piece featuring a picture of seven wheat stalks, representing the

By Kenya Sinclair (NEWS CONSORTIUM)

The Islamic State has announced it will be producing gold currency with the goal of weakening the dollar. LOS ANGELES, CA (Catholic Online) - A video posted Saturday, August 29th by the Islamic State warns that replacing the dollar will be "the second blow to America's ... continue reading


Art collectors seek liquidity as market plummets Watch

Image of Picasso piece auctioned for a record $179.4 million.

By Atarah Haely (NEWS CONSORTIUM)

Inquiries about art loans reportedly increased after global equities plunged. The unfortunate event led many to view their collections as assets and investment to cash-in.  MUNTINLUPA, PHILIPPINES (Catholic Online) - Bloomberg Business reports many collectors and ... continue reading


BIRTHING PAINS - America on brink as markets plunge Watch

Image of Market collapse is just one of many signs that the end is approaching. What comes next?

By David Drudge, Catholic Online (NEWS CONSORTIUM)

The U.S. stock market opened with a bang on Monday, and it appears to be the same sound you hear when something catastrophic happens to your engine. Several commentators have already dubbed the day, "Black Monday" as the market appeared to be on track for its largest ... continue reading


FINALLY: Researchers reveal that sex does not sell Watch

Image of Sex and violence is not an edge in advertising.

By Linky C. (NEWS CONSORTIUM)

Maybe sex doesn't sell after all. This is what studies reveal in a recent academic journal released by the Psychological Bulletin. MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Violence and sex in commercials does not appear to sell anymore. Compared to themes and ... continue reading


3 great tips on how to spot an online purchasing scam Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

With a growing population of people having internet access worldwide, there are a lot of businesses outsourced from the World Wide Web. Online shops sprout left and right because of easy access and an almost free platform, but limits in security are present. If ever ... continue reading


BLEEDING U.S. DRY: Federal taxes draining as much as $17,955 per worker Watch

Image of Tax revenues are about $183,397,970,000 in constant 2015 dollars from the $2,489,016,030,000 in revenue that the Treasury collected for 10 months in fiscal 2014.

By Catholic Online (NEWS CONSORTIUM)

They are bleeding the U.S. - and us, dry with massive amounts of taxation. The federal government collected a record of approximately $2,672,414,000,000 in tax revenues through the first ten months of fiscal 2015. And yet - that national deficit just keeps on getting ... continue reading


National debt frozen at $18,112,975,000,000 for 150 days Watch

Image of Treasury Secretary Jacob Lew explained in a letter dated March 13 that some steps the Treasury would take during the debt issuance suspension period.

By Catholic Online (NEWS CONSORTIUM)

Treasury Secretary Jacob Lew has sent out a letter to Congressional leaders telling them that he was extending a "debt issuance suspension period" through October 30. The amount of the federal debt subjected to a legal limit set by Congress closed on Monday, August 10, ... continue reading


America needs Catholic leadership now, and here's how you can make it happen Watch

Image of Rallies have erupted across the country blaming the wealthy for the plight of the poor, but the truth is, everyone is to blame. Regardless of blame, it's time to talk about what to do, and that talk should be informed by Catholic teaching.

By Marshall Connolly, Catholic Online (NEWS CONSORTIUM)

The stock market is poised for a collapse and that's not a good thing for American jobs. As growth slows and the risk of another recession looms, Americans are left to wonder where the good times have gone.  LOS ANGELES, CA (Catholic Online) - Americans are barely ... continue reading


Pope's environmental encyclical clashes with Catholic Church's investments in oil Watch

Image of The pope's encyclical has prompted debate in Catholic organizations and other churches about divestment. To date, many major American dioceses have resisted the push.

By Catholic Online (NEWS CONSORTIUM)

It's a conflict of interest that concerns many. Pope Francis, with the release of his encyclical, called attention to world ecology and how much climate change - as well as the exploitation of the poor, hinges on "highly polluting fossil fuels." While this is ... continue reading


Print Struggles: Internet becomes United States' Number One source for news Watch

Image of Newspapers in seeing the digital revolution have now since gone online.

By Catholic Online (NEWS CONSORTIUM)

When people in the United States want to hear about what's breaking in the news - they turn not to newspapers or TV, but online news sources. The immediacy of online news and its ability to instantly update stories while they happen has many other forms of mass ... 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, Colossians 1:15-20
15 He is the image of the unseen God, the first-born ... Read More

Psalm, Psalms 100:1, 2, 3, 4, 5
1 [Psalm For thanksgiving] Acclaim Yahweh, all the ... Read More

Gospel, Luke 5:33-39
33 They then said to him, 'John's disciples are ... Read More

Saint of the Day

Saint of the Day for September 4th, 2015 Image

St. Rosalia
September 4: St. Rosalia, daughter of Sinibald, Lord of Roses and Quisquina, ... 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