Chancellors make impression on Rich List

Source: Allan Warren

Gerald Grosvenor, Duke of Westminster

According to The Sunday Times Rich List 2013, the chancellor of the University of Chester has a fortune of £7.8 billion, money he earned through his property empire Grosvenor Estates. He is eighth in the Rich List overall and the wealthiest UK-born person in the annual ranking.

His vast wealth makes up more than half of the combined fortune of the 10 richest university chancellors.

Together, the chancellors are worth almost £13 billion, only £3 billion less than the combined total of the top 10 musicians, who hold more than £16 billion.

After the Duke of Westminster, the second-richest chancellor is Lord Paul, the chancellor of University of Wolverhampton and a Labour peer. His £2 billion fortune comes from his company Caparo group, which specialises in steel and engineering.

Third on the list is Lord Ashcroft, chancellor of Anglia Ruskin University and a Conservative peer, who has made his £1.2 billion in business and through investments in health, cleaning and security.

Others identified as among the wealthiest chancellors include University of Derby figurehead the Duke of Devonshire ( who is worth £720 million), University of Cambridge chancellor Lord Sainsbury (£590 million) and University of Reading chancellor Sir John Madejski (£100 million).

Top 10 Chancellors in Sunday Times Rich List 2013