The wealthiest people in the North East have been revealed in the 2026 Sunday Times Rich List – with a Sunderland-born businessman topping the regional rankings.
John Reece, co-founder of chemicals giant Ineos, is named as the richest person with North East ties, with an estimated fortune of £4.744 billion.
The accountant, who was born in Sunderland, is a key lieutenant of Ineos founder Sir Jim Ratcliffe and also sits on the board of Manchester United.
Despite topping the regional list, his wealth has fallen from £5.316bn last year.
North East Rich List 2026
A total of seven individuals and families with links to the region feature in this year’s rankings, spanning industries including chemicals, engineering, fashion and travel.
- John Reece – £4.744bn (Ineos chemicals)
- Peter Stephenson and family – £1.266bn (Able UK, offshore wind and infrastructure)
- Alastair and Michael Powell – £713m (cable manufacturing)
- Dame Margaret and Helen Barbour – £674m (Barbour fashion brand)
- The Duke of Northumberland and family – £544m (land and estates)
- Dame Irene Hays and family – £488m (Hays Travel)
- Mark Fenwick and family – £464m (Fenwick retail group)
Teesside-based businessman Peter Stephenson has seen the biggest rise locally, with his wealth more than doubling after a revaluation of Able UK’s property assets pushed him into the billionaire bracket.
Who are the richest on the list?
Peter Stephenson is the founder of Able UK, a Teesside-based engineering and infrastructure firm best known for its work dismantling ships and developing offshore wind facilities.
A sharp increase in the value of the company’s land and property portfolio has seen his wealth surge into the billionaire bracket this year from £591m to £1.266bn.
Alastair and Michael Powell are the brothers behind manufacturing firm the Cleveland Cable Company, supplying specialist cables for industries including energy and construction.
Their worth has taken a smaller jump of £12m, up to £713m.
Dame Margaret Barbour and her daughter Helen Barbour run the iconic South Shields-based clothing brand Barbour, known worldwide for its wax jackets.
The family business remains a major employer in the region.
The Rich List shows their estimated wealth at £674m, an increase of nearly £100m from 2025 (£580m).
The Duke of Northumberland and his family derive their wealth from extensive landholdings and property, including the Alnwick estate.
The historic portfolio spans agriculture, tourism and commercial property, including the Alnwick Garden. Their wealth increased from an estimated £517m to £544m this year.
Dame Irene Hays chairs Hays Travel, the UK’s largest independent travel agent, which has its headquarters in Sunderland.
The company expanded rapidly after acquiring Thomas Cook shops in 2019 and remains a major high street presence since, with Irene at the helm after the death of husband John Hays. Dame Hays' family is estimated to be worth £488m, down from £591m last year.
Mark Fenwick and his family lend their name to the Fenwick department store group, which began in Newcastle in the 19th century.
The business continues to operate flagship stores across the UK, including its well-known Northumberland Street site. The family is believed to be worth £464m, down from £491m in 2025.
Billionaire numbers fall
Nationally, The Sunday Times Rich List shows a drop in the number of billionaires in the UK, with the biggest fall in the list's 38-year history.
The 350 individuals and families on this year’s list hold a combined wealth of £783.5 billion — equivalent to around a quarter of the UK’s annual GDP.
Robert Watts, compiler of the Rich List, said: “This year’s Rich List is a tale of two exoduses. One in six of the individuals and families who appeared on the list two years ago don’t feature this time.
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“Many foreign billionaires who have been living in the UK have also dropped out because they have moved away. We have also seen a sharp rise in the number of British nationals now resident in Dubai, Switzerland and Monaco.
“These two exoduses pose challenges for the UK economy and its public finances.”
The full Rich List is available online and will appear in The Sunday Times Magazine on Sunday, May 17.
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