Tory Rich List

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Tory Rich List
IT'LL be TOFF at the top if the Tories get into power—as NINETEEN of the 29 Shadow Cabinet members are MILLIONAIRES, we can reveal.

And with Labour's disastrous by-election result last week, Britain could be on the way to its wealthiest government since the mid-19th century—when the aristocracy relinquished power.

A News of the World investigation found that the most minted is Lord Strathclyde—the Leader of the Opposition in House of Lords—whose inherited wealth adds up to a cool £10MILLION.

But leader David Cameron isn't feeling blue about his own finances—a property portfolio worth around £3.2m making him fifth in the Conservative rich list. Shadow Chancellor George Osborne is two places ABOVE his chief. He certainly seems to know a lot about money—thanks to a £4.3m personal fortune.

We got the figures from Companies House, the Land Registry and other official sources. None of the 19 has broken any rules building up their wealth.

At the other end of the scale are scrimping Shadow Justice Secretary Nick Herbert and Shadow Secretary Transport Theresa Villiers. They appear to have NO property investments, inherited wealth or extra-parliamentary earnings.

Here we show how the ten wealthiest got rich.

The other nine are: David Willetts (£1.9m); Theresa May (£1.7m); Oliver Letwin, Caroline Spelman and Owen Paterson (all £1.5m); Cheryl Gillan (£1.4m); and Liam Fox, Grant Shapps and Michael Gove (all £1m).

No.1 Lord Strathclyde- £10 Million
Leader of Opposition in House of Lords.

OWNER of a £2million home in Westminster, he is also the majority shareholder in family estate-management firm Auchendrane Estates, set up in 1945.

The estate it represents is worth around £6m. The company also owns Barskimming Estates Limited, which is asset rich to the tune of £2.7m.

Lord Strathclyde holds paid directorships for the firms Trafalgar Capital, Galena and Hampden Associates and Marketform Group. The salaries are not disclosed.

And he is a director of Scottish Mortgage Investment Trust, for which he got £21,000 in 2007/8. According to its latest annual report he holds 3,142 shares in the company, which are worth around £18,000.


No.2 Philip Hammond - £9 Million
Shadow Treasury Chief Secretary

OVER the past five years Mr Hammond has enjoyed a £2.7m dividend payment from his property firm Castlemead—of which £1.7m was paid last year.

This company owns the majority stake in Castlemead Homes, which builds properties and was listed as worth £5.8m last year.

Hammond's share amounts to £4.9m. He and wife Susan also own a house in Belgravia, central London, which they bought for just over £1m and is now valued at around £1.5m.


No.3 George Osborne- £4.3 Million
Shadow Chancellor

HIS dad Sir Peter co-founded luxury wallpaper and fabrics company Osborne & Little. George has a trust of 15 per cent and stands to inherit a substantial share.

In 2003, when the firm delisted from the London Stock Exchange, it was valued at £12.9m.

George and wife Frances have a home in London's Notting Hill worth around £1.8m and a constituency property (£500k). Her father is life peer Howell of Guildford, a former Minister in Margaret Thatcher's cabinet.


No.4 Jeremy Hunt- £4.1 Million
Shadow Secretary for Culture, Media & Sport

MR Hunt owns almost half of educational guide publisher Hotcourses and got a £245,181 dividend payment in 2006, a slight increase on the £199,566 he received in 2005.

The firm could easily be worth five times its annual profit of £1.3m, making Mr Hunt's stake £3.25m. He also gets a salary as commercial adviser for Bristol Port Company, and owns properties in Farnham, Surrey, and Hammersmith, West London, plus a half-share in a holiday house in Italy. These three are worth at least £500,000.


No.5 David Cameron- £3.2 Million
Conservative Party Leader

BEFORE becoming an MP in 2001, he was Carlton Television's head of corporate affairs.

He and wife Samantha own a £2.5m London home and a constituency house. She is creative director of Bond Street stationers Smythson, getting a six figure bonus—thought to be £300k—after a takeover. They also stand to inherit a fortune. Samantha's mum is the successful businesswoman Viscountess Astor. Her dad is Sir Robert Sheffield, majority shareholder of Normanby Estate Holdings, worth £5.2m. David's dad and granddad were stockbrokers.


No.6 Dominic Grieve- £3.1 Million
Shadow Home Secretary

A BARRISTER and ex-member of insurers Lloyds, his assets include 15 shareholdings worth more than £60,000 each. He owns a £1.2m home in West London, plus a rental property in the City, and is part-owner of land in France. His wife holds several directorships including one with damp and property restoration firm Hutton + Rostron.


No.7 Francis Maude- £3 Million
Shadow Chancellor of Duchy of Lancaster

MR Maude has properties in West Sussex, France and South London.

He holds several directorships and is chairman of the Prestbury Group plc, with 283,141 shares —worth £1 each on June 4. Since then the company's shares have been suspended because it failed to produce an annual report for 2007. because it has failed to produce an annual report for 2007. However, based on the closing price his holding is worth around £283,141 – a £200,000 profit on the £82,000 they were worth when the company floated.


No.8 William Hague- £2.2 Million
Shadow Foreign Secretary

THE ex-leader has made an estimated £780,000 from after-dinner speeches in the last three years.

In the same period he was paid at least £220,000 as director of several private companies. He got up to £100k from writing, and his private company Canyon Research holds almost £300,000 in liquid funds. Properties add at least £1m.


No. 9 Alan Duncan- £2.1 Million
Shadow Secretary for Business, Enterprise & Regulatory Reform

AS owner of Harcourt Consultants, Mr Duncan has made his money from the oil and gas industries, on which it advises. He also holds directorships with Californian company Catalytic Solutions and Arawak Energy—an oil and gas firm with interests in Russia. He has a London home and rental property. Alan Duncan is the long time owner and operator of Harcourt Consultants. This company is not a publicly registered business and it is therefore not possible to examine earnings that Duncan may have drawn from it. He is said to have earned ‘millions’ from the oil and gas industries on which the company advises and has according to some accounts, at least, been involved in the selling of Libyan Oil. In addition to Harcourt, Duncan draws an income from directorships with Californian company Catalytic Solutions and Arawak Energy – an oil and gas company with interests in Russia. Duncan declines to declare an income for these posts in the Register of Members Interests. Duncan’s key assets his properties. They comprise his London home and a rental property in the capital.


No.10 Andrew Mitchell- £2 Million
A MERCHANT banker director before becoming an MP in 2001, Mr Mitchell is still a director of Lazard & Co.

He also gets £40,000 a year as senior strategy adviser to Accenture and has shareholdings in three companies, worth a minimum £60k each. His London home is thought to be worth around £1.5m. 
Make the moves; make the money - for some anyway.


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Updated on 18/07/2012 18:38