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This revolting rich list is a freak show

What are we to make of this quite nauseating spectacle?

George is a visiting fellow at the London School of Economics and an Anglican priest.

A collage of famous, rich, people such as King Charles, Elton John and others.
The Sunday Times.

General elections are no longer a clear choice between socialism and capitalism, but we should still be as offended by the privilege of the few over the poverty of many. That’s only natural, whether we’re informed by envy, a secular sense of fairness or a religious faith.

The yawning chasm between rich and poor in the UK is offensive. When PM Rishi Sunak was drenched in his vale of tears this week outside Number 10, as he announced the general election, he was seeking a mandate to preside over this inequality, in which he so richly participates.

He stood there exactly three days after he and his wife waved from the pages of the Sunday Times Rich List, based on the newspaper’s “conservative estimates of the minimum wealth of Britain’s 350 richest people.”

The Sunaks stood at 245th on the list with a measly £651m. Just 20 years ago, when I was in business, that figure would have put them near the top. Some of my business contemporaries had even made the Rich List with just a few tens of millions.

Not anymore. Mere multimillionaires barely make the cut. The ever-widening gulf between the super-rich and the rest of us means that the top 165 of last Sunday’s list of 300 are now billionaires, compared with just 20 a quarter of a century ago, while the “bottom” of today’s heap struggle by as half-billionaires. 

It does make you wonder what the Sunday Times is doing with this revolting annual survey. It has become such an anachronism since it started in the Eighties, when greed was good and we worshipped Croesus impersonators.  

Every year, we’re invited to press our noses up against their plate-glass window and drool at a world that’s as alien as a pharaoh’s to the slaves building their pyramid. What do they want from us for this display of greed? Envy?   

Times (even on Sunday) have changed and the Rich List satirises itself. Look at the ads that support it. There’s one for a 122-metre yacht that can be chartered for three million euros a week. A few pages later there’s one for a Swiss clinic “for the treatment of mental health and issues of substance and behavioural dependency”. Could these ads be related?  

So what the Sunday Times is presenting is a kind of freak show. Roll up, roll up, see the people who are tax exiles from the planet. 

The Rich List is just for the British mega-rich. So no room here for Meta-billionaire Mark Zuckerberg or space-wingnut Elon Musk. But it’s nice to see at the top of the list, with just a couple of hundred million over the £37bn-mark, the Hinduja family, whose leading lights so publicly acquired British passports some years ago, with or without government help.  

And here’s Lakshmi Mittal (No. 8 with £15bn), who was recently accused of profiting from both sides of the Ukraine conflict, after a part-owned Indian company bought nearly £2.4bn of Russian oil since the start of the war. Which newspaper revealed this? Step forward the Sunday Times.  

And there’s vacuum magnate Sir James Dyson (No. 5 with £21bn) who backed Brexit and then moved his global HQ to Singapore. That’s the beauty of being so rich; you can escape the consequences of your own actions. 

Most of the list is what similarly might be called colourful. These cannot, by virtue of their economic separation, be normal people. So what the Sunday Times is presenting is a kind of freak show. Roll up, roll up, see the people who are tax exiles from the planet. 

Money is its own reward. But ultimately its power is empty. 

What are we to make of this quite nauseating spectacle? Sure. there is no virtue in poverty. But nor should there be a prosperity gospel, which holds that the righteous are financially rewarded, other than in the outer reaches of an American charismatic movement. 

Among the things that make us go “hmm” in this report is the attitude to life. Phones 4u founder John Caudwell (No. 109, £1.5bn) says “If I stopped I’d probably be desperately unhappy.” Hmm. New entrant to the list Graham King (No. 221=, £750m) made his fortune from public money contracts for accommodation for asylum seekers that inspectors have described as “decrepit” and is currently the subject of charges under the Housing Act 2004. Hmm. 

Cursed are the rich, for they shall lose touch with reality. That’s not a heretical rewrite of the Sermon on the Mount, with its “Blessed are...” Beatitudes. There are actually four lesser known woes in the Gospel of Luke: 

 “Woe to you who are rich, for you have received your consolation. Woe to you who are full now, for you will be hungry. Woe to you who are laughing now, for you will mourn and weep. Woe to you when all speak well of you, for that is what their ancestors did to the false prophets.” 

These woes aren’t about revenge. But they do speak to the consequences of extreme wealth – such as profiteering from desperately vulnerable people or working so hard you can’t think properly. 

Money is its own reward. But ultimately its power is empty. Today, the Sunday Times should be as ashamed of idolising it as those it lionises for making so much of it.  

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Portofino’s real prisoners are not the beggars it is banning

The economic elite can’t exclude the poor from their privileged bubbles

George is a visiting fellow at the London School of Economics and an Anglican priest.

A colourful row of buildings in an Italian port.
Portofino's harbourside dining.
Slim Emcee on Unsplash.

I know Portofino a bit, because it’s nearby my Italian in-law family and we’ve been there a couple of times when visitors have wanted to see it. It’s a former fishing village on the Ligurian coast, a natural bay and beyond lovely. And its mayor, Matteo Viacava, has just banned beggars from its cobbled streets, as they irritate wealthy tourists and celebrity visitors, which is less lovely. 

Italy struggles with its relationship with tourism. Rome was sinking under a pile of rubbish a few years ago. The more literally sinking Venice tries to repel visitors with taxes, while providing a backdrop welcome for mega-wealthy weddings. The walled Tuscan town of Lucca recently cracked down on the buttodentri, the restaurant touts who hustle diners. As with any European tourist destination, Airbnb apartments drive rental prices up and the indigenous population out. 

There is something particular about the Portofino beggar purge though. Perhaps it’s a bit like Versailles before 1789 – in the case of Portofino, the poor have no clothes so let them wear Prada. It’s all designer boutiques and there isn’t a real shop, a paneterria or forno, to be found. No one carries any weight, naturally, but you do wonder how they eat at all, if not in one of the extortionately priced trattoria. 

To visit, as thousands will this summer, is to realise how much there is that you don’t require. It has everything a rich visitor wants, but nothing that they actually need. We’ve heard people call it Disneyland Italy, but I think it’s more like Patrick McGoohan’s The Prisoner TV series, shot in another, similarly named, dystopian village, Portmeirion in North Wales, where everything is laid on except freedom. Even that’s not quite right – as The Eagles nearly wrote, in Portofino you can leave any time you want, you just can’t afford to check out, unless you’re loaded. 

It strikes me now that the mysterious bubble that pursued the aspirant escapee McGoohan along the beach may have been a cunning metaphor. People who live in Portofino (and very few do), or who seek sanctuary there, or in Palm Beach, or on Long Island, or in St Moritz, or on Mustique, or in South Kensington, exist in a bubble.  

Joining friend and foodie Loyd Grossman at the Chelsea Arts Club a while ago, he told me he’d just walked down from his home in South Kensington and seen not a single person who actually lived there, but only people who cleaned their houses. Residents arrive from and leave for the airport, often from subterranean garages, in privacy-glassed limos. 

Like Portofino, these are bubbles from which anyone but their own demographic are excluded. It doesn’t have to have gates to be a gated community. The bubble is a psychological state, which is bought to protect us from those of lesser means and especially, God save us, from the poor. 

Simply to have them removed is to have head and hearts dwelling in gated communities.

And, increasingly for the economic elite, the poor are anyone who cannot afford to, or are not forced to, separate themselves for security, because they have no access to a privileged bubble. That the poor are always with us is a gospel injunction, which I used to take at face value as a statement of apathy or resignation, even acceptance, in an inadequate world, that the poor are simply poor and there is nothing to be done about it. 

Latterly, I’ve seen it far more in the post-modern sense of being present with the poor in their moment of poverty, in solidarity and in their corner. That means they share our space, as neighbours. We’re not just talking about the economically poor here, but the dispossessed and discarded; the vulnerable and volatile; the marginalised and maligned.  

We, the rich, can’t afford to exercise zero tolerance, to pretend they don’t exist, because – to coin a phrase of George Osborne’s when, hilariously, he claimed as Chancellor of the Exchequer to be making common cause in austerity – we’re all in this together. And by “this” I mean the one, shared bubble, which is universal.  

We’ve been considering tourists and beggars, but we can scale it up to famine in Gaza or Sudan; asylum seekers in small boats; prisoners in Guantanamo Bay or on death rows; those who face earthquakes and tsunamis. They can’t be made to disappear by magic or mayoral edict, only by addressing the circumstances of their poverty – of food, money or spirit – with practical, social and political policy, plus a dollop of compassion for the cause of their plight. 

Simply to have them removed is to have head and hearts dwelling in gated communities. It’s not sufficient, for sure, to notice the beggars this summer, to drop a few euros, but it’s a start along the street towards knowing that the poor are indeed always here, with us. Even in Portofino.

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