The Sunday Times Rich List 2021: "Why having more Billionaires is better for the UK".

The Sunday Times Rich list 2021 has shocked many of us, despite the horrors of the Pandemic and the Post-Pandemic Economic Landscape, the wealth and numbers of Billionaires residing on British Soil has increased to 171, with an increase of 22% in their wealth since last year, the highest ever at ￡597 billion.

The arguments for inequality, the spread of wealth, tax evasion, corruption and so on are all valid points, these can lead to wealth but let us look at it from another angle. First of all there has never been full equality, the spread of wealth has often been worst than it is now, corruption has existing since the dawn of time and these are facts of life.

But it is really bad to have 171 billionaires in your country, and over 5000 multi-millionaires in London and across the UK? Consider if they were not living in the UK and were over in France instead! What would be the effect? Would we be any better of? Of course not and I will explain why.

The fact that so many wealthy people want to live and invest in the UK should be a reflection of our society and the unique position of our small Island which offers so much to so many. Wealthy people are no longer just aristocratic landlords, there a multitude of international industrialists, entrepreneurs and interesting characters. If anything they add colour and spice to what would be a rather dull and boring minority.

They will spend money in the UK economy, in services, travel, industry, banking, finance, private equity, entertainment and venture capital. Don't forget that their money helps fuel the economy and ensures employment and growth for niche sectors. Many businesses including my own has depended on these High Net Worth (HNW) clients.

Take the case of 26 year old Johnny Bourfarhat, this young genius has taken a concept and made it into a ￡1.4 Billion unicorn in such a small space of time, his story should be an inspiration for thousands of young British entrepreneurs looking to launch their own businesses in the Post-Pandemic Economic Landscape that we are in now.

HNW individuals and families invest in private enterprises and ensure the flow of capital for future businesses via private equity, venture capital and so on. This can lead to a rise in technology and innovation which in turn can help us tackle issues such as climate change and unemployment.

So while having our Sunday breakfast and tea, looking through the Sunday Times Rich List 2021, perhaps we should be a little more positive about having billionaires choosing the UK to live and invest it, just think how would we be better off if 171 billionaires lived in France, Germany or US instead of the UK!