Hugh Grosvenor, the seventh Duke of Westminster, saw his net worth fall by £243 million last year but remains the second richest person under 40 in the UK, according to The Sunday Times’ Rich List. At 42, Hughie inherited his father’s title and the vast Grosvenor Estate in 2016, becoming an instant billionaire at age 25. His family fortune now stands at £9.8 billion, down from £10.1 billion in 2024.

The Duke’s wealth comes primarily from The Grosvenor Group, which manages extensive property developments, including the Liverpool One city center project. The group recently partnered in a £10 million plan to build an urban leisure complex in northwest England.

Hugh Grosvenor is also notable for his royal connections. He is godfather to Prince George and Prince Archie and is related to Russia’s Romanov imperial family and the writer Alexander Pushkin through his mother, Natalia. He is one of 33 godchildren of King Charles III.

King Charles, who ascended the throne in 2022, ranked 238th among the UK’s richest individuals, up from 258th in 2024. Despite a difficult year managing cancer treatment, his wealth mainly comes from investments inherited from his late mother, including private properties like Sandringham and Balmoral.

The Sunday Times’ valuation excludes assets held in trust by the monarch, such as the Crown Estate, the Duchy of Lancaster, and the Crown Jewels. Meanwhile, the Duke of Westminster remains close to the royal family, maintaining a strong bond with the Prince and Princess of Wales.