The 10 richest British AI entrepreneurs now have a combined net worth of more than £2.3 billion ($3 billion), according to new analysis by the UK’s Evening Standard, in a sign that the UK’s growing artificial intelligence industry is set to generate huge wealth for the economy.
The Evening Standard Tech Rich List is a ranking of the top 100 wealthiest British founders and directors of tech companies, first published in March 2023 to highlight the growth in entrepreneurial tech talent in the UK. The wealth estimate models use real-time market data to keep valuations up to date.
At least one in five of the top 100 richest tech entrepreneurs is now a founder or director of an AI business, according to the Evening Standard Tech Rich List, after a surge in investor interest over the course of 2023 led to skyrocketing company valuations.
Those businesses include Inflection AI (set up by British entrepreneur and Deepmind co-founder Mustafa Suleymen), which is now valued at $4 billion; Quantexa (a London-based decision intelligence platform that was valued at $1.8 billion in an April funding round), and FiveAI (a driverless software business which was bought by German firm Bosch last year for 120 million euros.”
Also of interest are startups such as London-based Eleven Labs (an AI audio generation start-up that hit a $100 million valuation in June), founded by Mati Staniszewski.