The businessman who donated £75m for a new school of government at Oxford University has been named as the UK’s richest person.

Len Blavatnik was placed number one in The Sunday Times rich list with an estimated fortune of £13.7bn.

A building which will house the Blavatnik School of Government is under construction in Walton Street and will cost £30m.

Mr Blavatnik, who was born in the Soviet Union, owns a mansion in Kensington Palace Gardens and made much of his fortune through oil.