Businessman Trevor Hemmings is the only billionaire from the island to see their wealth increase over the last year, according to the Sunday Times Rich List.

Mr Hemmings, who started his working life as a builder’s apprentice, has seen his wealth rise by £90m over the last year, according to the list.

He is now said to be worth £1.115bn, compared to £1.025bn last year.

Mr Hemmings, who lives in the north of the island built a business empire that includes property, pubs and hotels. He owns Preston North End football club and has won the Grand National three times. He actually fell 12 places in the Sunday Times publication to 155th place despite his wealth increasing.

Mr Hemmings is one of National Hunt racing’s most successful and popular owners.

PokerStars entrepreneur Mark Scheinberg remains the richest person in the island. But he has fallen five places in the list, from 44th to 49th and he has seen his wealth decrease by £36m to £3.519bn.

The Isle of Man resident co-founded PokerStars with his father, Isai, and built it into the world’s biggest online poker company, before cashing out in 2014.

Property tycoon John Whittaker and his family are now in 120th spot in the list having held the 90th position last year.

He is the chairman of the Peel Group that mainly invests in the northwest of England and he and his family’s fortune is now said to have fallen by £200m in a year to £1.4bn.

The fortunes of several other island residents who previously figured in the list are not known as this year’s index now only lists 250 people instead of 1,000 as in previous years. But 2021 Rich List identifies a record 171 billionaires - 24 more than in 2020. That’s the biggest jump in the 33 years the newspaper has been compiling the list.