The family behind the UK’s JCB empire have been among the country’s richest families for years, with an estimated net worth of 7.5billion.
Whilst Anthony Bamford’s name might not be a household name, but his family’s business might be one you recognise. As chairman of J.C. Bamford Excavators Ltd, better known as JCB. Anthony and his family have established themselves amongst the UK’s wealthiest and most influential dynasties.
Boasting an estimated fortune of £7.5billion according to Forbes, the family ranks amongst Britain’s richest and features in the global top 300. But how exactly did they accumulate such staggering wealth?
Anthony inherited JCB from his father Joseph Bamford, who established the firm in Staffordshire in the aftermath of World War Two. Demonstrating a natural flair for commerce at just 30, Anthony seized control as chairman in 1975.
Throughout the following five decades, the JCB empire expanded worldwide, evolving from humble beginnings in a modest Uttoxeter garage to operating 22 manufacturing plants spanning multiple continents.
Today, JCB provides employment for approximately 12,000 to 15,000 workers globally and counts prestigious clients including the US military amongst its customer base, reports the Express.
Forbes captured the brand’s cultural impact: “The brand is so ingrained in British culture that a JCB is to a backhoe what a Kleenex is to a tissue.”
This remarkable success has generated extraordinary wealth, with the family’s net worth soaring from £1.7billion in 2016 to over £7billion by 2025.
Nevertheless, Anthony Bamford’s fortune is distributed amongst the Bamford clan through dividend payments from JCB and other family business interests, including those involving his three offspring. His son Jo operates Wrightbus, a bus manufacturing company, alongside a green hydrogen investment fund.
Beyond JCB, Bamford has dabbled extensively in politics. He secured a Conservative peerage in the House of Lords back in 2013, though he relinquished the role last year to concentrate on business operations.
The industrialist was also a vocal champion of Brexit and threw his weight behind Boris Johnson across multiple campaigns, contributing millions to the Conservative Party coffers and even securing accommodation for Boris following his departure from Downing Street.
Yet, towards the end of last year, the former peer caused considerable unease among Tory ranks when it emerged that JCB had stumped up £8,000 for a private helicopter journey for Nigel Farage and one of his assistants.
The firm explained that the Clacton MP had received the helicopter transport to visit a JCB facility, though a representative for Farage informed The Guardian that “Nigel and Lord Bamford are friends.”
Whilst Bamford is not believed to have personally attended Farage’s gathering earlier this week, a prominent display of the JCB PotholePro was positioned in the hall’s corner, suggesting the Bamford backing may have shifted to a different political party.
The UK’s top 10 wealthiest individuals according to Forbes:
- Michael Platt – $18.8 billion – Hedge Funds
- James Ratcliffe – $17.3 billion – Ineos Chemicals
- James Dyson – $15.3 billion – Dyson vacuums
- Simon Reuben – $13.4 billion – Real estate
- David Reuben – $13.4 billion – Real estate
- Anthony Bamford & family – $10.3 billion – JCB
- Christopher Hohn – $9.2 billion – Hedge funds
- Denise Coates – $8.4 billion – Online Gambling (Bet365)
- Nik Storonsky – $7.9 billion – Fintech
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