James Dyson, the inventor of the bagless vacuum cleaner, is now the wealthiest person in Britain after his company bagged record profit in 2018.
Earnings at Dyson Ltd. reached 1.1 billion pounds ($1.4 billion) for the year, up from 801 million pounds in 2017, boosted by demand for new hair products, the company said Tuesday in a call with reporters.
The results added about $3 billion to his wealth, according to the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people.
Dyson, 71, is now worth $13.8 billion. The firm’s press office didn’t immediately respond to a request for comment on the fortune of its founder and chairman.
The gain catapults him ahead of Jim Ratcliffe, the founder of chemicals manufacturer Ineos Group, and aristocratic land owner Hugh Grosvenor, the seventh Duke of Westminster, whose family has owned land since 1677.