Sunday Times Rich List 2018: Island home to five billionaires

The Isle of Man now has five billionaire residents, with Mark Scheinberg the wealthiest, according to the 30th Sunday Times Rich List.

The Israeli-born businessman, 45, is the co-founder of online gambling company PokerStars and worth £3.55bn - ranking him 36th in Great Britain.

He is followed on the island by property mogul John Whittaker (£2.25b) and Alki David and the Leventis family.

Trevor Hemmings and Jim Mellon both became billionaires in the last year.

The business interests of Preston-born Hemmings, 82, range from property and pubs to race horses - whilst Mr Mellon is described as a "master investor".

In total, nine individuals and families with an Isle of Man connection will appear on Sunday's list, with a combined wealth of £11.485bn.

Robert Watts, who compiled the list, said: "Not many islands boast five billionaires, but the Isle of Man has certainly developed a magnetic pull to the world's super rich.

"The entrepreneurs on this list illustrate the many different ways to make a fortune in 2018.

"Mark Scheinberg, Alki David and Mark Shuttleworth are all making money from cutting-edge technology whilst John Whittaker and John Morphet have continued to grow fortunes from more conventional means.

"Trevor Hemmings shows that age is no barrier to entrepreneurial energy a month before his 83rd birthday."

Alki David, part of the Leventis family, is the entrepreneur behind SwissX, a legal cannabis oil used by a range of celebrities. In 2000, the Leventis family merged its worldwide bottling business with Coca-Cola to create the London-listed Coca-Cola HBC, valued at £8.2bn.

Meanwhile, Mark Shuttleworth recorded the biggest increase in wealth (£340m) thanks to his business that allows televisions, cars and other devices to connect to the web.

The 44-year-old, who has dual South African and British nationality, spent £13m in 2002 to become the second tourist in space.

Isle of Man's richest

1. Mark Scheinberg - £3.556b - down £142m

2. John Whittaker and family - £2.25bn - up £50m

3. Alki David and the Leventis family - £2.2bn- up £300m

4. Trevor Hemmings - £1bn - up £150m

4. Jim Mellon - £1bn - up £80m

6. Dan Craddock - £500m - no change

6. Mark Shuttleworth - £500m - up £340m

8. Steven Lamprell - £319m - down £16m

9. John Morphet - £160m - up £10m

Source: The Sunday Times Rich List