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Marshmallow Insurance twins top newcomers in Sunday Times rich list sharing £455m fortune

With a £2.06 billion fortune, Johnny Boufarhat is the wealthiest person in the Young Rich List, of people in the UK aged 30 and under.

With a £2.06 billion fortune, Johnny Boufarhat is the wealthiest person in the Young Rich List, of people in the UK aged 30 and under.

That is according to the new edition of The Sunday Times Rich List, published today online at thesundaytimes.co.uk/richlist and in the print edition of the newspaper on Sunday, May 22.

Aged 27, Sydney-born Boufarhat, became Britain’s youngest self-made billionaire last year with the success of Hopin, his video-conferencing app launched from his girlfriend’s London flat in 2020.

Thirty-year-old identical twins Oliver and Alexander Kent-Braham, the founders of Marshmallow, the online car insurer, share a £455 million fortune, making the brothers the wealthiest new entrants in The Sunday Times 2022 Young Rich List. Valued at $1.25 billion (£900 million), Marshmallow last year became the first unicorn to be launched by black British-born entrepreneurs.

The Kent-Brahams, who jointly own just over half of Marshmallow, were educated at Reed’s, the Surrey fee-paying school where former UK tennis number 1 Tim Henman was once a pupil. Although they both played tennis for Great Britain at under-16 level, the twin-brothers abandoned dreams of turning professional to establish Marshmallow.

A sell-out tour of North America in 2021 and the success of his second album Fine Line has added £25 million to the fortune of Harry Styles, making him Britain’s wealthiest young musician. The 28-year-old former One Direction member is now worth £100 million. Following hard on his heels is singer-songwriter Dua Lipa, 26. Ranked 11= in the Young Rich List, alongside Little Mix, Dua Lipa’s personal fortune is now £60 million, up £24 million in a year.

Manchester United’s French international Paul Pogba, 29, is the wealthiest footballer in the list, with a £77 million fortune. England and Tottenham Hotspur striker Harry Kane, 28, and Romelu Lukaku, 29, the Belgian international who returned to Chelsea last year, are each worth £42 million, ranked 19th equal.

Worth £10m and ranked 85=, tennis star Emma Raducanu joins the Young Rich List for the first time now the Sunday Times list has been extended online to include the 100 wealthiest people in the UK aged 30 and under. Nineteen-year-old Raducanu has signed lucrative contracts with Tiffany, Dior, British Airways, Evian and Vodafone since winning the US Open last year.

Robert Watts, the compiler of The Sunday Times Rich List, said: “The Young Rich List used to be dominated by musicians and footballers. We are now finding a wave of twenty-something entrepreneurs who have managed to quickly build fortunes through vlogging, esports and Instagram-friendly retail. Not all of these business founders needed millions of pounds in investment or a flair for coding. Many have been able to build global businesses with little more than a phone, a laptop and an instagram account – intuitive, simple to use tech that millions of people can access without breaking the bank.”

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Marshmallow Insurance twins top newcomers in Sunday Times rich list sharing £455m fortune