The number of billionaires living in Britain has risen to more than 100 - more than triple the number from a decade ago.
The combined wealth of the Britain's super rich is now ahead of the pre-recession levels of 2008, when the total wealth of the UK's 75 billionaires was £201 billion.
A decade ago, a personal fortune of £700 million was needed to be among Britain's 50 wealthiest people. The entry point to the UK top 50 today is £1.7 billion, the Sunday Times Rich List found.
Richard Branson, chairman and founder of Virgin Group Ltd, is among the top 25
The 104 billionaires in the UK today have a combined wealth of more than £301 billion.
It means Britain has more billionaires per head of population than any other country, while London's total of 72 sterling billionaires is more than any other city in the world, the study found.
Indian-born brothers Sri and Gopi Hinduja top the list of the UK's wealthiest billionaires with a fortune of £11.9 billion.
The London-based pair, who run the global conglomerate Hinduja Group, saw their wealth rise by £1.3 billion in the last year, the study found.
They replaced Russian business magnate Alisher Usmanov at the top after the Arsenal shareholder saw his fortune fall to £10.65 billion, the Sunday Times Rich List said.
The richest Briton, the Duke of Westminster, is ranked 10th on the list after his fortune rose to £8.5 billion.
Last year, 88 billionaires were living in the UK, worth a total of more than £245 billion, according to the Sunday Times Rich List. In 2004, the number of billionaires in Britain was 30, with a combined wealth of £65 billion, it said.
Among the new members of the billionaire club is West End producer Sir Cameron Mackintosh, who saw his fortune rise by £175 million in the last year and is now worth £1 billion, the survey found.
Plymouth-born Chris Dawson, who owns and runs The Range discount store chain, saw his fortune rise by £695 million in the past 12 months to net £1.28 billion.
Meanwhile, Jon Hunt, founder of estate agents Foxtons, has a £1.07 billion fortune, up £145 million in 2013, the Sunday Times Rich List said.
Sports Direct founder Mike Ashley and Sir Richard Branson are among the UK's top 25 wealthiest billionaires.
In Scotland, Sir Brian Souter and Ann Gloag, the siblings who founded the Stagecoach transport empire, share a fortune of £1 billion - an increase of £270 million on last year.
The wealthiest new entry is Carrie and Francois Perrodo and their family, who own the London-based Perenco oil and gas operation and are said to be worth £6.14 billion.
It is the first time since 2008 that the minimum wealth of the 50 richest people in the country has exceeded £1.5 billion, according to the Sunday Times Rich List.
Seventy two billionaires are now based in London, compared with 48 sterling-equivalent billionaires in Moscow, 43 in New York, 42 in San Francisco, 38 in Los Angeles and 34 in Hong Kong.
The 2014 Sunday Times Rich List will be published on May 18.
THE TOP BILLIONAIRES
:: 1. Sri and Gopi Hinduja, £11.9 billion, up £1.3 billion
:: 2. Alisher Usmanov, £10.65 billion, down £2.65 billion
:: 3. Lakshmi Mittal and family, £10.25 billion, up £250 million
:: 4. Len Blavatnik, £10 billion, down £1 billion
:: 5. Ernesto and Kirsty Bertarelli, £9.75 billion, up £2.35 billion
:: 6. John Fredriksen and family, £9.25 billion, up £450 million
:: 7. David and Simon Reuben, £9 billion, up £719 million
:: 8. Kirsten and Jorn Rausing, £8.8 billion, up £3.691 billion
:: 9. Roman Abramovich, £8.52 billion, down £780 million
:: 10. The Duke of Westminster, £8.5 billion, up £700 million
:: 11. Galen, Hilary and George Weston and family, £7.3 billion, up £650 million
:: 12. Charlene de Carvalho-Heineken and Michel de Carvalho, £6.365 billion, down £635 million
:: 13. Mohamed Bin Issa Al Jaber and family, £6.16 billion, up £1.645 billion
:: 14. Carrie and Francois Perrodo and family, £6.14 billion, new
:: 15. German Khan, £6.08 billion, new
:: 16. Sir David and Sir Frederick Barclay, £6 biilion, up £3.65 billion
:: 17. Hans Rausing and family £5.9 billion, up £1.18 billion
:: 18. Nicky Oppenheimer and family, £4.57 billion, up £785 million
:: 19. Earl Cadogan and family, £4.2 billion, up £525 million
:: 20. Joseph Lau and family, £4.03 billion, down £570 million
:: 21. Sir Philip and Lady Green £3.88 billion, no change
:: 22. Denis O'Brien, £3.854 billion, up £486 million
:: 23. Mike Ashley, £3.75 billion, up £1.45 billion
:: 24. Sir Richard Branson and family, £3.6 billion, up £86 million
:: 25. Idan Ofer, £3.43 billion, new