Len Blavatnik
Warner Music owner, Len Blavatnik (L) with artist Jason Derulo (R)Getty

The Sunday Times has released its annual Rich List of the wealthiest 1,000 individuals and families in the UK.

Ukrainian-born Warner Music owner, Len Blavatnik's £13.17bn fortune means he now holds Rich List's top spot – a considerable jump from fourth position last year, pushing the Hinduja brothers, who are now worth £13bn, into second place.

Galen and George Weston and Family sit in third place with £11bn, up £3.7bn from last year, while Arsenal co-owner Alisher Usmanov was placed fourth with £9.8bn, beating the owner of rival club Chelsea, Roman Abramovich, who is in 10th place with £7.29bn. The Russian tycoon's value fell by £1.23bn from last year.

Blavatnik's portfolio of investments range from metals and oil to music publishing and digital media. His company Access Industries bought Warner Music for £3.3bn in cash in 2011.

Sunday Times Rich List 2015 Top Ten
Len BlavatnikOwner of Warner Music£13.17bn
Sri and Gopi HindujaFounders of Hinduja Group£13bn
Galen and George WestonOwners of George Weston Limited£11bn
Alisher UsmanovMajority shareholder of Metalloinvest£9.8bn
David and Simon ReubenReal estate, venture capital, and private equity£9.7bn
Ernesto and Kirsty BertarelliCo-chairs of Bertarelli Foundation£9.45bn
Lakshmi MittalChief executive of ArcelorMittal£9.2bn
Kirsten and Jorn RausingFamily founded Tetra Pak£8.7bn
Gerald GrosvenorDuke of Westminster. Owner of Grosvenor Group£8.56bn
Roman AbramovichOwner of Chelsea FC and Millhouse LLC£7.29bn

The 57-year-old's philanthropic efforts include a sizeable donation of £75m to Oxford University for the founding of the Blavatnik School of Government.

His other contributions include a £33m donation to Harvard Business School in 2013 to "launch a major initiative to expedite the development of basic science discoveries into new breakthrough therapies for patients and cures for disease". He also gave £6.5m to Yale to "explore" chronic diseases.

The Sunday Times Rich List describes Blavatnik as a "child of the Soviet Union, citizen of America, and now a billionaire thanks to the business free-for-all that accompanied the fall of the Soviet communism".

Blavatnik owns a £41m mansion in Kensington Palace Gardens, as well as a £50m property in New York. He is married to Emily Appelson and the couple have four children.

Forbes ranks Blavatnik as the world's 42nd richest person.

The fortune of Britain's wealthiest individuals and families has more than doubled in the past 10 years and are now worth a combined £547bn, compared to £249bn in 2005.