Glasgow is the millionaire capital of Scotland with 12 millionaires and two billionaires worth a total of £5.486billion calling the city home.

According to the new The Sunday Times Rich List, which will be published this Sunday, two of Scotland’s top 20 earners hail from Glasgow, with John Shaw and Kiran Mazumdar-Shaw topping the list for the city with their £1.689bn wealth coming from the pharmaceuticals industry.

The Clark family, who earned their £1.178bn fortune from the late Sir Arnold Clark, came second, oil tycoons Jim and Fitri Hay’s £325m estate was third, while Lord William Haughey and his family came fourth with their £301m cash pot.

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I’m a Celebrity star Duncan Bannatyne made fifth place, dropping from fourth in 2018, with his £300m, and financial guru Ian MacKechnie and family were sixth with £268m in the bank.

The rest of the list is as follows: Rod and Sheila Falvell with £231m; David Roberts and family with £215m; Sir John Mactaggart and family with £200m; Sir Peter Vardy and family with £187m; Bruce Mickel and family with £167m; Douglas and Iain Anderson with £160m; Gordon and Alan Turner with £142m; and John Denholm and family with £123m.

However, the richest Scot to make the list this year is spirit giant Glenn Gordon and family, who seen a wealth increase of £310m this year, taking their total fortune to £2.882b.

The Banffshire–based Glenfiddich distillery is now run by the fifth generation of the 1887 founder, William Grant, with Glen Gordon, 61, overseeing the firm.

The operation is valued at £2.7b, with labels including Grant’s whisky and Hendrick’s Gin sending profits up by 14.4 per cent to nearly £304m in 2017-18.

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Robert Watts, the Compiler of The Sunday Times Rich List, said: “Many Rich Listers are this year nursing big losses due to the uncertainty over Brexit, turbulence on the stock market and the enormous change sweeping through our high streets.

“But more than half of our Scottish Rich List have seen their fortunes rise over the past 12 months – that’s a higher proportion than other parts of the UK.

“This may cheer those pushing for an independent Scotland, who will want to show that there is plenty more to the Scottish economy than North Sea oil.”

Mohamed Al Fayed and Harry Potter author JK Rowling also ranked in the top 20 Scots, with their respective £1.7b and £750m fortunes.

The pair join a total of 82 Scots who made the list of the 1,000 richest people in the UK for the magazine's 31st annual edition.

While the bus conductor turned knight of the realm, Sir Brian Souter and sister Dame Ann Gloag saw their stake in transport operation Stagecoach rise by £37.2m to £243.4m in the last year.

To see the full list, visit here.