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Souter Siblings Join Billionaires Club

Tuesday, 13 May 2014

Sir Brian Souter and his sister Ann Gloag have joined the billionaire club for the first time. The news came this week as the Sunday Times published its official 2014 Rich List. Together they share a fortune of £1bn after an increase of £270m from last year.

The siblings join seven other Scottish billionaires including Sir Ian Wood, whose £1.32bn fortune comes from oil and fishing services, and the Thomson family, who own DC Thomson and are worth £1.2bn. The number of UK billionaires in this year’s list has risen to 104 with a combined wealth of more than £301bn!

The title could be short lived though, as earlier this week Gloag pledged to give away half of her £500m fortune to good causes. The decision came after she was approached to join the Bill Gates’ Giving Pledge campaign by the billionaire Microsoft boss’s wife, Melinda.

She now joins a list of billionaires who have each promised to give away the majority of their wealth by the time they pass away. In a letter, published on the charity’s website, she explained why she was joining the pledge;

“From a young age, my brothers and I were taught to give to those less fortunate than ourselves, no matter how little we had.”

She continues; “That ethos has remained at the core of our family since childhood and, today, thanks to my business success, I am very fortunate to be able to help many thousands of women and children in Africa.”

The Giving Pledge was set up by Bill Gates and fellow billionaire inverter, Warren Buffet, in 2010. The idea was to encourage the world’s wealthiest people to donate half of their fortune to charitable causes around the world. They have since gathered the pledges of 127 of the world’s richest names.