The Duke of Westminster has topped the wealthiest ‘under 40′ category in The Sunday Times Rich List 2023.

The Duke of Westminster who has topped the wealthiest ‘under 40’ category (Image: Getty)

Prince George’s godfather has topped The Sunday Times Rich list in the ‘wealthiest under 40’ category with an estimated net worth of a staggering £10.127bn – thanks to his inherited land and property portfolio.

The Sunday Times Rich List 2024, states the 33-year-old Duke of Westminster has “retained his position” as the richest person under 40 in the UK.

The list charts the wealth of the “350 richest people” in the UK and is based on identifiable wealth, including land property, other assets such as art and racehorses, or significant shares in publicly quoted companies – but it excludes bank accounts.

Hugh Grosvenor was long considered to be Britain’s most eligible bachelor and inherited his title and the Grosvenor Estate in 2016 after his father died. His estates are in the wealthy London neighbourhoods of Belgravia and Mayfair, and the ancestral home in Cheshire, Eaton Hall.

Hugh Grosvenor and Olivia Henson’s engagement photo (Image: Grosvenor2023)

The Duke’s estimated net worth has increased since last year, as he was worth an estimated £9.878billion in 2023 according to The Times.

Since Charles became King, his inherited assets have propelled his wealth to £1.8bn, but his personal fortune is largely concealed from public scrutiny and it is not possible to know the complete value of his estates. But according to research by the Guardian, an audit of the King’s assets from property and jewels to paintings and cars, concluded the figure.

Meanwhile, the Prince of Wales’s net worth is estimated to be between £31.6million and £60.7million, according to reports. But these estimates do not include the private Duchy of Cornwall estate which he inherited from his father.

Harry and Meghan, on the other hand, are said to have a combined net worth of around £48million, despite stepping down from their royal duties and repaying the public money used for renovating Frogmore Cottage.

King Charles’s net worth is reportedly £1.8bn (Image: Getty)

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The number one in the ‘under 40’ Sunday Times Rich List is set to marry his fiancé, Olivia Henson, on June 7 at Chester Cathedral. The future Duchess of Westminster has already drawn comparisons with a young Kate, Princess of Wales for her long brown hair, slim frame, and stylish attire.

Grosvenor’s status as King Charles’ godson and godfather to a young Prince George means that the upcoming wedding will be a royal affair, with multiple senior members of the family expected to attend.

Hugh’s father, Gerald Cavendish Grosvenor, the 6th Duke and a close friend of the Queen and then-Prince Charles, was 64 when he died of a heart attack on August 9, 2016. At the time, he was the 114th wealthiest person in the world, with a fortune of around £9billion, according to Forbes. He was laid to rest in the Grosvenor family plot at the Old Churchyard of St. Mary’s Church in Eccleston.

Much of the family’s fortune comes from a 17th-century dowry given to Sir Thomas Grosvenor, which included 500 acres of land just outside of London.

Hugh inherited the dukedom and the Grosvenor Group, a property development company, from his father, Gerald Grosvenor, in 2016. The Grosvenor family’s wealth primarily stems from extensive land holdings, real estate developments, and other investments.

The Duke was educated at a private boarding school, Ellesmere College, and went on to study Countryside Management at Newcastle University. His education and upbringing were geared toward preparing him to manage the substantial family estate.

He has two elder sisters – Lady Tamara Grosvenor and Lady Edwina Grosvenor and one younger sister, Lady Viola Grosvenor.