Sunday Times Rich List 2023: The 5 richest people in Scotland including Asos and Jenners tycoon Anders Povlsen

Anders Holch Povlsen, who bought the Jenners building on Edinburgh's Princes Street in 2017, is the richest person in Scotland.

That’s according to The Sunday Times Rich List 2023, published online today (May 19) and in the print edition of the newspaper on Sunday, May 21.

The 68-page special edition of The Sunday Times Magazine reveals the wealth of the 350 richest people in Britain in its 35th annual edition.

There are 171 billionaires in the UK recorded this year, down six from 2022. The combined wealth of the UK billionaires is £683.856 billion, up £30.734 billion, or 4.5 per cent, on the total wealth of the billionaires in last year’s Rich List.

UK-wide, a number of Rich List regulars are nursing heavy losses from the bursting of a second tech bubble. Sir Richard Branson’s wealth has fallen by £1.79 billion since last year, largely due to the falling share prices of his space tourism and satellite ventures.

Danish fashion retailer Povlsen ranks 17th on the overall Rich List this year, with a valuation estimated at £8.5 billion – Scotland’s highest climber – up £2 billion from £6.5 billion in 2022.

The billionaire’s love affair with Scotland began as a child when his parents took him on a fishing trip. Today, he is the country’s largest private landowner with 220,000 acres. Home is Aldourie Castle, on the shores of Loch Ness. His wealth stems from the Danish fashion retailer Bestseller, founded by his father, Troels Holch Povlsen, in 1975.

Povlsen, 50, took over in 2000. He is chief executive and the sole owner of the business, which has had a strong year, increasing profits to £723 million. He also has a stake in the struggling fast-fashion outfit Asos, which has lost £183 million over the past year.

Take a look through our photo gallery to see the 5 wealthiest people in Scotland, according to this year's Sunday Times Rich List.