The ten richest individuals in the North West have been revealed, with a former Ellesmere College students featuring among them. 

The group's combined wealth is listed at almost £45 billion.

Cheshire based Hugh Grosvenor, the Duke of Westminster, features within the list, alongside others such as the founder of retailer Home Bargains and the owners of betting company Betfred.

But the 31-year-old has slipped from the top spot as the latest edition of The Sunday Times Rich List places Michael Platt, a Preston-born hedge fund manager at the top of the pile with his wealth calculated to be a staggering £10 billion, with a rise of £2 billion registered in the last 12 months.

The Duke of Westminster, owner of the Grosvenor Group who's portfolio includes properties such as Chester's Grosvenor Hotel and the Liverpool ONE shopping centre, slips to second place with £9.726 billion.

Other names on the list include Home and Bargains founder Tom Morris and his family have seen their wealth increase by £766 billion over the last year, placing them fourth in the list with a combined fortune of £5.127 billion.

Another discount retailer has also made the top 10, with B&M owners Simon, Bobby and Robin Arora having accumulated £2.543 billion with an increase of £19 million.

There are a record 177 billionaires in the UK this year, up six from 2021.

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The Sunday Times bases its list on identifiable wealth, including land, property, other assets such as art and racehorses, or significant shares in publicly quoted companies. It excludes bank accounts, to which the paper has no access.

However the Rich List is not the only area in which the UK is displaying big numbers. A House of Commons Library report stated that as of 2020, the UK has an estimated 1,300 Trussell Trust foodbanks, with the Independent Food Aid Network (IFAN) recording at least a further 929 independent food aid providers operating across the country, meaning a combined figure of over 2,200.

A total of 252,048 emergency food parcels were handed out by the Trussell Trust network in the North West alone, the largest number outside of London (283,563) and the South East (258,138).

Inflation is also currently at its highest point for four decades with many struggling to make ends meet. A major factor is the increasing cost of energy prices which the Office for National Statistics (ONS) has contextualised as the equivalent of a £700-a-year rise in the energy bills of an average UK household.

The Chancellor Rishi Sunak has said that it is not possible for the government to "protect people completely" from the challenges of higher energy prices.

Conservative Minister for Safeguarding Rachel Maclean also suggested earlier this week during an interview with Sky News that those who were struggling should consider "taking on more hours or moving to a better paid job".

When pressed on reports that some were currently working multiple jobs and were still unable to meet the rising cost of living, the MP said that the government was providing support through Jobcentres and work coaches to help "individuals work on their own individual situation", before conceding that this approach would not work for those already in multiple jobs.

Further information and the full list can be found at: https://www.thetimes.co.uk/sunday-times-rich-list