This revolting rich list is a freak show

What are we to make of this quite nauseating spectacle?

George Pitcher

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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6 September 2024

4 min read

Oasis: If feuding brothers can get together again, maybe the country can too

Some might say Liam and Noel Gallagher’s reunion is reminiscent of Joseph, Prince of Egypt.

Krish Kandiah

Krish is a social entrepreneur partnering across civil society, faith communities, government and philanthropy. He founded The Sanctuary Foundation.

Two middle age rock star brothers pose for the camera in a black and white picture

Any dream will do.

Liamgallagher.com.

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There’s a man with a black rainhat and jacket on the stage swearing at over 50,000 teenagers. It’s Liam Gallagher, the lead singer of Oasis, that iconic 90s rock band. He’s singing his way through the entire Definitely Maybe album to mark the 30-year anniversary of its release. Somehow, these 50,000 teenagers know all the words, as they sing along on a warm summer evening for their rite of passage that is the Reading Festival.

I feel strangely alone in the crowd. I remember where I was when the album was first released - nobody around me was even born then. On the stage, Liam too is strangely alone. For 15 years he’s been estranged from his brother Noel – the song-writing genius behind all of Oasis’ greatest hits. He’s in a reflective mood as he sings ‘Live Forever’:

“Maybe I will never be, all the things that Ii want to be, now is not the time to cry, now’s the time to find out why”

(Live Forever)

This lyric has aged well. Back when Liam was 21 years old, about to be biggest band in the world, about to see their album become the fastest selling debut album of all time, he wasn’t seriously considering the question.

Back then, fame didn’t seem to suit him. He famously ditched a huge US tour with the band, when he was about to board the plane from Heathrow. He stubbornly refused to go on stage for the MTV unplugged concert at the Royal Festival Hall despite a packed-out audience and a full orchestra on the stage. Maybe it was youth. Maybe it was anxiety. Maybe it was some illegal substance.

Even now, at Reading, with rumours rife of a reunion tour, Liam seems a little vulnerable. He delivers a brilliant vocal performance to a huge crowd, but his hat covers most of his face for the entire concert. He mentions that he had thought the young people getting their GCSEs might have let their academic excellence go to their heads, but they turned out to be “alright” after all. And then, with more swearing, more swaggering guitar chords and more defiant sneering vocals, there comes more vulnerability:

Their song brought the country together in a pledge of hope. While terrible things are going on around us in our world, we need all the togetherness and hope we can get.

“All this confusion, nothings the same to me, I can’t tell you the way I feel, because the way I feel is oh so new to me”

(Columbia)

Liam dedicates “Half a World Away” to his brother Noel, and then the promise of something more… “27/08/2024 8am” is revealed on the huge screen. Is there going to be more to the Oasis story? Could the feuding brothers have buried the hatchet? Have they listened to their own lyric – don’t look back in anger – and decided to drop the bitterness and animosity and find a new way forward?

I wonder how the reconciliation happened. I like to imagine it was like Joseph, Prince of Egypt and wearer of coat-of-many-colours, finding himself face-to-face with the brother who tried to murder him all those years earlier, and privately breaking down in tears before declaring “God meant it for good”.

I like to imagine it was like Joseph’s father Jacob, Patriarch of Israel and hot-headed runaway, returning to his twin brother Esau after two decades of separation, praying he would be received favourably, and overwhelmed when his prayer was answered.

‘Some might say’, excuse the pun, that the timing of this impossible reconciliation is less to do with making peace and more to do with making money. The Gallagher brothers have both been through costly divorces. Perhaps they have seen the appetite for megatours as demonstrated by Taylor Swift’s Era’s extravaganza.

A few days later there is controversy brewing around dynamic pricing which is adding to the rumours of extortionate profiteering. Presale tickets initially range from £73 to £205, with standing tickets priced around £150. Then resale prices skyrocket, with some tickets listed for as much as £6,000—approximately 40 times the original price. It remains uncertain how much of these profits Oasis directly receives.

And then there is the timing. Next year the ownership of the Oasis back-catalogue reverts back to Noel. Only a few months ago Queen sold the rights to their back-catalogue to Sony Music in a record-breaking $1.27 billion, surpassing previous deals such as Bruce Springsteen's sale for $500 million. A sell-out tour will go a long way to upping the value of the Oasis catalogue.

Whatever the motivations, whoever is profiting, and however genuine the reconciliation, the reforming of Oasis, in my eyes, is a great moment for our country. I’ll never forget the woman who spontaneously sang “Don’t Look Back in Anger” after the minute’s silence to remember the 22 Ariana Grande fans killed at the Manchester Arena terrorist attack in 2017. While Noel and Liam were still feuding, their song brought the country together in a pledge of hope. While terrible things are going on around us in our world, we need all the togetherness and hope we can get.