While the national headlines often focus on the challenges of the high street, the latest data compiled by Insider Media for its annual Yorkshire Rich List reveals a city where the "old guard" of industry is being joined by a new wave of green-energy pioneers and infrastructure giants.
Leeds continues to act as the financial and industrial engine of the North, with the combined wealth of the city's top figures reaching into the multi-billions.
The rankings highlight a significant shift in how the city's fortunes are being made, as while traditional sectors like construction and property remain the bedrock of Leeds' wealth, there is also movement from entrepreneurs capitalising on the transition to net-zero and the digital revolution.
The list also reflects a year of "winners and losers," as Insider Media notes that high interest rates and fluctuating material costs impacted established names in construction and car dealerships. Yet, with several high-profile new entries breaking into the top tier, it’s clear that the Leeds business landscape is evolving at a breakneck pace.
So who are set to continue to be the movers and shakers in the business world in the city as 2026 arrives?
Here are the 17 richest people and families in Leeds as we enter the new year.
1. Patrick and Michael Heneghan and family – Construction (£180m)
Heneghan is one of the UK’s fastest-growing civil engineering firms, specializing in everything from housebuilding and utility services to major infrastructure projects. Founded by William Heneghan, the Leeds-based company now installs tens of thousands of metres of internet cabling for clients like Virgin Media. | Google
2. Jonathan Turner and family – Energy (£180m)
Turner runs the Wetherby-based Bayford conglomerate, which has diversified from oil distribution into property, hospitality, and electric vehicle charging. The family also owns the prestigious Yorke Arms, a luxurious private venue near Pateley Bridge. | Submitted
3. Sir Andrew Cook and family – Industry (£180m)
The sixth generation to run the William Cook Group, Sir Andrew has overseen a massive surge in profits for the manufacturing firm. With bases in Leeds and Sheffield, the group produces critical components for the energy, rail, and global defence sectors. | Scott Merrylees
4. Chris Bailey and family – Construction (£192m)
While Chris Bailey is a prominent figure in the fintech world, his family wealth stems from NG Bailey. Founded over a century ago in Leeds, it remains the UK’s largest independent engineering and infrastructure services provider. | NG Bailey
5. David Wood – Food and Drink (£200m)
David Wood Baking is a powerhouse in the UK food industry, supplying major supermarkets with everything from artisan bread to frozen pizzas. Since 2008, Wood has expanded the business to eight factories employing nearly 1,800 people. | Canva
6. Erika Wilson – Industry (£200m)
As the managing director and owner of Wilson Power Solutions, Erika Wilson has seen the family business thrive by providing essential infrastructure for solar farms and the EV revolution. Profits for the Leeds manufacturer have nearly doubled in the last year. | Wilson Power Solutions