Super-rich UK energy and food magnates’ wealth skyrockets amid global crises
Analysis has shown the costs of daily essentials soaring in recent years, thanks in part to climate shocks, wars and geopolitical tensions François Perrodo is what is known in motorsport as a gentleman driver. In June, he raced at Le Mans, earning a podium place. At the end of August he was back behind the wheel at the Circuit de Spa-Francorchamps. This time he won. Gentleman drivers are wealthy…
The wealth of UK-linked energy and food magnates has soared in recent years, particularly since 2022 when Russia's invasion of Ukraine triggered a global cost of living crisis. Families with energy-related fortunes saw their wealth increase four times faster than their super-rich peers, while food production families saw their wealth increase three times faster.
The Perrodo family, led by François Perrodo, took the top spot on a list of 15 super-rich UK-linked families whose wealth increased due to business in energy or food production. During this period, the cost of daily essentials, such as energy, food, and petrol, rose significantly. Energy prices were 31% higher in August 2026 compared to January 2020, while electricity prices were 17% higher.
In contrast, UK food prices increased by 38.6% between November 2020 and November 2025. The analysis, commissioned by the antipoverty charity War on Want, found that households with primary wealth from energy saw a 20% increase in wealth between 2022 and 2026 - four times the list average. For food production households, the wealth increase was 15%.
Despite the financial gains, the energy sector has faced a series of scandals, including a lawsuit against the Peruvian government, an oil spill in Dorset, and allegations of failing to address decommissioning obligations. Perenco, the family company of François Perrodo, is involved in the energy industry and has faced criticism over environmental concerns.
However, the company maintains that it is a recognized expert in optimizing mature oil wells and takes human rights and environmental law obligations "very seriously."
Written by urgent.news from Guardian Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
