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º£½ÇÊÓƵ billionaires have seen their fortunes soar by more than a fifth as they shook off the financial toll of the pandemic, according to the latest Sunday Times Rich List.

The list revealed that there are now a record 171 billionaires in the º£½ÇÊÓƵ, with Ukranian-born Sir Leonard Blavatnik topping the pile as the richest person in the country.

The number of billionaires jumped by 24%, in stark contrast with the wider economic turmoil of the pandemic which saw millions enter furlough and the rate of unemployment lift to its highest in almost five years.

Wealth among billionaires increased by 21.7% over the year, rising by £106.5bn to £597.2bn.

Robert Watts, compiler of the rich list, said: “The global pandemic created lucrative opportunities for many online retailers, social networking apps and computer games tycoons.

“The fact many of the super-rich grew so much wealthier at a time when thousands of us have buried loved ones and millions of us worried for our livelihoods makes this a very unsettling boom.”

The annual index of the country’s wealthiest residents showed that oil and media investor Mr Blavatnik saw his fortune surge by £7.2bn to around £23bn during the pandemic-hit year.

His business interests include Warner Music, which he sold a £1.37bn stake in when it listed in the US last year.