Full Breakdown
UK Energy and Food Billionaires See Wealth Surge Amid Global Crises
By Drooid · · How we work
Core Event
A new analysis of the Sunday Times Rich List shows that families whose fortunes stem from energy or food production have seen their wealth increase far faster than other UK-linked super-rich households since the 2022-onset cost-of-living crisis. Households tied to energy grew wealth by 20 percent, four times the list average, while food-linked households rose by 15 percent.
Background & Context
The surge follows a multiyear period of rising energy and food prices driven by climate-related shocks, wars and geopolitical tensions. Although energy prices have retreated from their peaks, gas in August 2026 remained 31 percent above January 2020 levels and electricity 17 percent higher. Petrol prices are roughly double 2020 levels, and UK food prices rose 38.6 percent between November 2020 and November 2025.
Key Figures & Groups
- François Perrodo – head of Perenco, a privately held oil and gas group; his family’s wealth rose by about £3 billion over the past four years.
- Ranjit Singh Boparan – co-owner of 2 Sisters Food Group, whose wealth more than tripled to over £2 billion since 2022.
- Malcolm Walker – founder of Iceland supermarkets, whose fortune grew by £106 million.
- Warburton family – increased wealth by £185 million as bread prices climbed.
Data & Statistics
- Energy-derived fortunes grew 20 percent (four-times the average increase).
- Food-derived fortunes grew 15 percent (three-times the average increase).
- The Perrodo clan tops a list of 15 families with the largest gains from energy or food businesses.
- Gas prices in August 2026 were 31 percent higher than in January 2020; electricity 17 percent higher.
- UK food prices rose 38.6 percent from November 2020 to November 2025.
Official Statements & Responses
The company added that it has withdrawn a claim against the Peruvian government after cultural authorities identified uncontacted Indigenous peoples, and it affirmed compliance with decommissioning deadlines for its North Sea wells.
Criticism & Calls for Reform
War on Want, the charity that commissioned the analysis, argues that the wealth gains exacerbate the climate and cost-of-living crises. It proposes a £10 million upper wealth limit, an annual wealth tax on assets above that threshold, and international cooperation through a UN Tax Convention.
> “The super-rich are profiting from the food and energy industries that fuel both the climate and cost-of-living crises,” — Nuri Syed Corser, campaigner at War on Want “The super-rich are profiting from the food and energy industries that fuel both the climate and cost-of-living crises,” — Nuri Syed Corser, a campaigner at War on Want.
Conflicting Reports & Gaps
The analysis relies on data from the Sunday Times Rich List and the research of academic Ben Tippet. No alternative wealth-growth figures from other outlets are presented, leaving a gap in independent verification of the exact magnitude of the increases.
What’s Next
War on Want plans to lobby the UK government for the proposed wealth-tax measures and to engage with foreign governments as the UN Tax Convention develops. The outcome of these efforts will determine whether the identified wealth surge translates into policy action.