Tuesday, May 19, 2015

Rich List.

Just a little update on my London life.

I'm currently working on a campaign called 'This Foreigner Can'. It has been quite an interesting project so far but of course as with all new projects there are bumps on the road. While most people are quite receptive to the concept of the campaign, it is the funding that is proving to be the biggest road block to success.

Anyways, what I wanted to blog about is about my thoughts on the Sunday Times Rich List. Every year, the Sunday Times releases a list of the 1,000 richest people in the UK. I had to go through the list to find the richest migrants who made the list and after going through 1,000 names I think I have detected the trends for getting rich.

Some of the common trends are:

1. Come from a rich family: Many of those on the list may be really great CEO's and leaders of their companies, but they have just taken over their family business which has been established for quite some time.

2. Work in an investment bank: While you may not make the top 200, there are quite a number of investment bankers who are rich by power of their salary/bonus alone. On the other hand, there are a few ex-hedge fund managers who then came out to start their own businesses.

3. There are so few women: Sad to say that many women to did make the list are listed jointly with their husbands.

4. Divorce/Inheritance: There are so many individuals who are worth hundreds of millions just because they got a divorce who a really good inheritance. WHATTTT. I've also observed that unfortunately women who do come into a windfall decide then to be a socialite whereas quite a number of the men go on to use that money to start a business (it may not be a very profitable business, but it's something).

5. Politics: Pretty much all the mega rich are Tory supporters who donate millions. I think there were only two significant Labour donors on the list. There is also the odd Liberal Democrat.

6. Live in another country: If you are super rich, you will be a resident in Switzerland, Monaco or Gibraltar. All the tax havens.

7. Property: Just buy property.

Okay that's all I really wanted to note down. 

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