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It’s still a bit grim out there even for the rich but not nearly as bad as it was a year ago when the world stood on the verge of Great Depression 2. Overall the wealth of the Midlands Business Insider’s list of the Top 100 working millionaires in our region has dropped by £1.1bn since the credit crunch began.

From a peak of £13.5bn in 2007, the collective wealth of the Top 100 fell to £12.7bn last year. But this year the 100 are worth £12.3bn so the slide has slowed markedly. Maybe this is the first sign of those green shoots of recovery at long last.

This year we have a new number one, though it is a familiar face in Midlands business circles. John Caudwell, the former owner of the Phones4u mobile phone operation, has returned to the top of this list as he has shown that despite walking off with £1.4bn in sale proceeds, the beach has no allure for him. He is still active in property, looking for new ventures as an angel investor. His inclusion demotes last year’s number one, Sir Anthony Bamford and his family, to number two spot.

The Bamford family of course owns the JCB construction equipment firm. As one of Britain’s few remaining world class manufacturers, JCB had a good run through the boom years but the last year was very difficult.

Our 100, who come from an area embracing Staffordshire to Northamptonshire by way of Worcestershire and Lincolnshire, and all points in between, are still the real movers and shakers of the local economy.

It is still the heart of the Midlands that is the engine room of local wealth. Birmingham and its environs play home to the headquarters of 35 of our 100 (up from 24 last year). Our Top 100 is still dominated by property and construction millionaires, of the 100, 35 have made their money in this industry.

Some 77 of the 100 started their own businesses without inheriting anything from parents or family. We have seven women in the list this year (down from eight last year). The ethnic diversity of our Top 100 is also evident with eight from the Asian community (down two on last year) and one from the Chinese community. It is also quite an elderly list. Of the 100, 62 were born in the 1940s or earlier which means they are all now over 60.