SIR James Dyson is the richest man in the South West according to the new edition of The Sunday Times Rich List, which reveals the wealth of the country’s richest 1,000 people.

The Malmesbury-based entrepreneur tops the list, which was published on Sunday, with an estimated wealth of £7.8bn.

The figures also show that Sir James has increased his wealth from last year by £2.8bn.

At the end of March, Dyson announced a staggering rise in profits to £631million, an increase of 41 per cent, citing higher demand in Asia as the main reason for the firm’s recent success.

Second on the South West Rich List is accountancy boss Peter Hargreaves, who pledged £3.2m to the Leave campaign in the recent EU referendum, closely followed by Range discount store owners Chris and Sarah Dawson.

Robert Watts, the Compiler of The Sunday Times Rich List, said: “This year’s larger than ever Rich List lays bare how the fortunes of Britain’s richest 1,000 people have fared amid the astonishing events of the past 12 months with entries ranging from an aristocrat to a former market stall trader.

“And in Sir James Dyson, Sir David McMurtry and John Deer the south west has three of the leading inventors-turned-entrepreneurs.”