City and Guilds Vocational Rich List

 27th Jun 2006

Today's apprentice is set to be tomorrow's self-made millionaire - some of the UK's most talented and affluent people have found fame and fortune through craft skills learned early in life.

According to the fourth City & Guilds Vocational Rich List, which ranks wealth by those who built their fortunes on a vocational background or apprenticeship, business is booming, and sometimes, doubling. The collective wealth of the nation's top 50 craft millionaires has increased by £5.4 billion over the past three years - from £2.7 billion in 2003 to £8.1 billion in 2006.

The list, which has been compiled by Sunday Times Rich List author Philip Beresford, shows that getting one's hands dirty on the shop floor certainly pays off, and that for many self-made millionaires, an apprenticeship is a launch pad for a successful career - whether in the same field or in a new area.

Sir Alex Ferguson (£20 million) began his career working with his hands rather than his feet as an apprentice welder at Govan Shipyard - similarly to comedian Billy Connelly (£10m). Today he is best known as the long-serving manager of Manchester United who won more trophies than any other manager in the history of English football.

'King of Diamonds' Lawrence Graff, who once worked as a Hatton Garden apprentice, has seen his profits double for the second time in two years, growing from £750 million to £1300m, crowning him a new vocational billionaire - one of three on the list. Just as in 2005, he sits comfortably at the number two position.

This year's list also includes many well-known celebrities. Food gurus Jamie Oliver (£25m), Gordon Ramsay (£35m) and Gary Rhodes (£10m) went through traditional qualifications before starting on their catering and TV careers. Other celebrities - such as rock stars Eric Clapton (£135m) and Jimmy Page - have either served their 'vocational time' or started on craft courses.

The number of women on the list has doubled this year. Before cutting it to the top and becoming one of Britain's best known designers, our new entrant, Vivienne Westwood (£10m), studied fashion and silversmithing. Her celebrity counterpart, Stella McCartney (£15m), also studied fashion and secured apprenticeships at Christian Lacroix and Savile Row.

After four straight years, telecoms boss John Caudwell still enjoys the top spot with a considerable fortune of £1.6 billion - up by £320m since 2005.

Chris Humphries, director general, City & Guilds said: 'What is clear from the list is that most of these vocational millionaires are self-made and that some have used their vocational backgrounds as successful launch pads for their careers. Interestingly, more than 60 per cent of them have also had apprenticeships. They are truly an inspiration to those school leavers who choose not to go down the university route and who may feel their career options are limited, which is clearly not so.'

 


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