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 May 2015
Universal:
That, rejecting the culture of indifference, we may care for our neighbours who suffer, especially the sick and the poor.
Evangelization: That Mary's intercession may help Christians in secularized cultures be ready to proclaim Jesus.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Business & Economics

Los Angeles boosts minimum wage to $15.34 an hour, largest U.S. city to do so Watch

Image of Significantly, the bill in its current form includes tipped workers. This means that tips would not count towards the proposed minimum-wage base pay of $15.

By Catholic Online (NEWS CONSORTIUM)

The minimum wage for the city of Los Angeles will be $15.34 by the year 2020 - until then, wages will increase incrementally each year. The vote is being hailed as "the most significant victory so far" in the push to increase the minimum wage nationally. LOS ... continue reading


Another attack on 'In God We Trust': Atheists take a stab at U.S. currency motto Watch

Image of The United States currency's motto is 'In God We Trust.'

By Atarah Haely (NEWS CONSORTIUM)

After a series of unsuccessful legal battles against the religious quote on U.S. currency, a popular atheist activist claims to have found a new and more effective way attack the country's beloved "In God We Trust." MUNTINLUPA, PHILIPPINES (Catholic Online) - Michael ... continue reading


Verizon to buy AOL in $4.4 billion deal Watch

Image of Verizon says the deal will shore up its wireless and over-the-top or OTT video strategies.

By Catholic Online (NEWS CONSORTIUM)

In a deal valued at approximately $4.4 billion, telecoms giant Verizon will acquire digital conglomerate American Online, or AOL. Verizon announced this week it would acquire digital conglomerate AOL, intended to bolster the telecommunications giant's efforts ... continue reading


Five American tech companies have $430 BILLION in which to play Watch

Image of While other companies cry

By Catholic Online (NEWS CONSORTIUM)

While other companies cry "poor mouth" or say they have little at their disposal, at least five American tech companies are sitting on an overwhelming $430 BILLION in cash. There should be no surprise that Apple leads the list by a wide margin. LOS ANGELES, CA ... continue reading


New York Times reports substantial loss in spite of digital growth Watch

Image of There has been a move to make the newspaper more attractive to readers. The newspaper's cooking product, a hub for recipes and food-related content, has been free since its introduction.

By Catholic Online (NEWS CONSORTIUM)

In just one of growing death knells of the daily print newspaper, the iconic New York Times reported a hefty $15 million loss for the first quarter of 2015. Digital subscriptions continue to show solid growth. Digital advertising grew at a double-digit pace. ... continue reading


Shakeup at Walt Disney Parks -- information technology employees replaced by non-immigrant workers Watch

Image of Both Disneyland and Walt Disney World certainly were not the happiest places on Earth for many employees at the beginning of this year.

By Catholic Online (NEWS CONSORTIUM)

Both Disneyland and Walt Disney World certainly were not the happiest places on Earth for many employees at the beginning of this year. Multiple layoffs went around to many several information technology employees and were told their final day would be January ... continue reading


Apple can't seem to spend money fast enough as profits soar and cash reaches a staggering $194 billion Watch

Image of At Apple - the company can't seem to spend money fast enough.

By Catholic Online (NEWS CONSORTIUM)

Digital gadget maker Apple has ended the first calendar quarter with $33 billion in cash and short-term investments and $160.4 billion in long-term investments. Apple currently has $194 billion in cash and investments, more than any other non-financial company ... continue reading


Meet the billionaires who pledged to give up their fortunes to change the world Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

Through the "Giving Pledge," men and women belonging to the upper crust of the society, with billions of dollars in their name, commit to donating a large chunk of their fortune, whether through their lifetime or through their will. Coming from the majority of their ... continue reading


World's discarded electronic junk building up into massive toxic dump Watch

Image of Less than 16 percent of global e-waste is being diverted from landfill into recycling and reuse.

By Catholic Online (NEWS CONSORTIUM)

Television sets, washers and driers, stereos - broken, discarded, and then thrown away, are creating a massively toxic waste dump of gargantuan proportions. The irony in all this "e-waste" is the fact that precious metals such as gold and silver are also thrown ... continue reading


Australian father-and-son team raises $10 MILLION for beehive project Watch

Image of The beehive symbolizes productive activity, and for father and son Cedar and Stuart Anderson of Australia, their project was literally that.

By Catholic Online (NEWS CONSORTIUM)

The beehive symbolizes productive activity, and for father and son Cedar and Stuart Anderson of Australia, their project was literally that. Nearly 30,000 people have funded their "Flow Hive" project on Indiegogo for $10 million dollars. Not bad at all for such ... 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, Acts 25:13-21
13 Some days later King Agrippa and Bernice arrived ... Read More

Psalm, Psalms 103:1-2, 11-12, 19-20
1 [Of David] Bless Yahweh, my soul, from the depths ... Read More

Gospel, John 21:15-19
15 When they had eaten, Jesus said to Simon Peter, ... Read More

Saint of the Day

Saint of the Day for May 22nd, 2015 Image

St. Rita
May 22: St. Rita was born at Spoleto, Italy in 1381. At an early age, ... 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