Sir James Dyson and family top the Southwest list, according to this year’s edition of The Sunday Times Rich List.

Dyson retains the top spot on the Southwest Rich List, despite a 13.5 per cent decline in revenues at Dyson’s consumer electricals group over the past two years, partly due to Donald Trump’s tariffs.

Profits of £600 million have led to a revised valuation of £8 billion for the Singapore-based business.

A further £4 billion has been attributed to assets outside the company, including at least 36,000 acres of farmland.

Earlier this year, Sir James also acquired a 50 per cent stake in Bath Rugby.

The list reveals the largest fall in the billionaire count in the guide’s 38-year history.

This year’s list of 350 individuals and families together holds combined wealth of £783.5 billion.

It represents about a quarter of the United Kingdom's total annual GDP.

The minimum entry level dips to £340 million — another indicator of a subdued year.

Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Rich List is a tale of two exoduses.

“One in six of the individuals and families who appeared on the list two years ago don’t feature this time.

“Many foreign billionaires who have been living in the UK have also dropped out because they have moved away.

“We have also seen a sharp rise in the number of British nationals now resident in Dubai, Switzerland and Monaco.

“As UK nationals these people remain on our Rich List — wherever they now live.

“This year’s edition shines a light on fortunes made from artificial intelligence, driverless cars and crypto-currencies as well as baby milk, make-up, hoodies and other everyday items as well as hearing the rags to riches stories.”

For more information you can visit: https://www.thetimes.co.uk/sunday-times-rich-list