Retail’s Richest: All In It Together!
As a nation we seem to have a developed a thirst for lists and superlatives, and TV shows ranking everything from top ten records, funniest comedians, and highest bridges abound. So, great news! With the Sunday Times Rich List out this weekend, Retail Week magazine has just published its list of the world’s 100 richest retailers. At number one is Amancio Ortega, who has managed to amass an eye-watering £38.76bn. Whilst, coming in last in this select cohort, are Michael and Rainer Schmidt-Ruthenbeck with a paltry £1.33bn between them! Add the whole lot together and they’re probably worth more than the economic deficit of a modest sized country, and I’m sure they’re worth every penny!
The nerd in me welcomes the arrival of another listing; a kind of retail Top Trumps for those who like order in their lives. And I’m sure that those at the top of the rankings are puffing their chests out with pride at the confirmation of their peerless business acumen. But apart from giving their egos an unnecessary boost, and giving Retail Week a few more column inches, what’s the purpose of these rich lists?
Yes, it’s heart-warming to read the entrepreneurs’ epic struggles from rags to riches, but are their stories and wealth meant to inspire envy or admiration? Do they prove – as Gordon Gekko said – that “greed is good”? Should we be overjoyed by their success, or depressed by our lack of it?
Are there lessons to be learned or a moral to be inferred? For instance, if only we lazy slackers got off our backsides could we be as rich as Croesus too? Inspired by this example lowly paid shop staff will surely be spurred on to make their own pile from retail! Or, should those laggard billionaires ranked eighty through one hundred pull their socks up and emulate their betters in the higher echelons?
I suppose, when all’s said and done, some good has come of it after all. At least compiling the data kept some journalists and accountants in work – proving that wealth does indeed ‘trickle down’. And during these austere times it does your heart good to confirm – like the politician said – that “we’re all in this together”!