SCOTTISH entrepreneur Ann Gloag could soon be richer than the Queen if her wealth continues to grow at its current rate, it was claimed yesterday.
According to the latest annual Sunday Times compilation of Britain's richest 500 people, the co-founder of the Stagecoach bus empire could overtake the monarch by mid-1998.
Mrs Gloag and Brian Souter, her brother and business partner, are said to be worth #220m, up #47m on last year, while the Queen's fortune remains at #450m for the third year.
Perth-based Stagecoach has rapidly grown to become one of the world's biggest bus companies and recently won the franchise for the privatised South West rail company in England.
A former nurse, Mrs Gloag last year bought Beaufort Castle, the historic home of the Frasers of Lovat, near Beauly in Inverness-shire.
The latest list of the super-rich puts her in joint 72nd place and makes her Britain's second-wealthiest woman after the Queen. She also makes it into the five fastest fortunes, with an average annual growth of #14.6m since the company began in 1981.
A total of 38 Scottish entries are featured. These are led by the Dundee-based Thomson publishing family in 52nd place with #266m, up #26m on last year.
Others include retailing brothers Lennie and Ian McGeoch of the Paisley-based Mackays department store chain, in 101st place with #155m (up #45m), and Edinburgh-based newsagent John Menzies and family, joint 103rd with #150m (up #65m).
New Scottish entries include dynamic duo Dr Alex Deas, who set up Dalkeith-based microchip repair firm Memory Corporation in 1993, and backer and chief executive Cameron McColl, both in joint 246th place with a value of #64m each.
The Duke of Buccleuch's value has apparently fallen to a mere #40m from #260m last year. But his plunge to a joint 387th slot is because previous calculations used a hypothetical valuation of his art collection.
He has pointed out that 80% of the proceeds of any sale of the works would go straight to the Treasury.
In the overall listings, the Queen is ranked joint 26th, a fall of nine places since last year.
For the third year in succession, TetraPak food packaging magnate Hans Rausing has been named Britain's richest person with a #2880m fortune - #880m up on last year.
In second place, unchanged from last year, is supermarket chief David Sainsbury and his family, whose estimated wealth remains at #2520m.
The newspaper said: ``Britain's rich became more than #15.5bn richer in 1995 in what proved to be a vintage year for personal wealth creation.
``Collectively, the 500 richest people and families who make up the list were worth #70.578bn on January 1, 28% higher than a year ago.''
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