Millionaires call for wealth tax as Rich List reveals that 350 families have £772bn

Millionaires have called on the government to properly tax the richest people in Britain, after it was revealed that just 350 families hold more than 772bn of the nation’s wealth.

- ATHENA STAVROU

Members of the Patriotic Millionaires have urged for a “long overdue” wealth tax to invest in “our much-loved country”, adding that the wealth of the top 350 people could cover the total cost of the UK’s annual healthcare spend three times over.

The call comes after the 2025 Sunday Times Rich List revealed the annual catalogue of Britain’s wealthiest people, with famous figures including Sir Elton John, Andrew Lloyd-Webber and the King all making the list.

Responding to the publication, Julia Davies, an angel investor who sold her stake in backpack and travel bag company Osprey Europe, said: “Once again this year’s rich list shows the phenomenal wealth that is stuck at the top with a whopping £772bn in the hands of a mere 350 people.

“Those wringing their hands about fewer billionaires and the threat of multi-millionaires leaving would be better off focusing on real British problems, like our crumbling NHS, than nursing the niche concerns of the super-rich. £772bn, held by just 350 families, would cover the total cost of the UK’s annual healthcare spend three times over. Properly taxing this wealth, to invest in our much-loved country, is long overdue.”