Star comment: Stories of inspiration in rich list

But look at the people who feature in it and there is genuine reason to be optimistic about the future of the West Midlands.

There are stories of inspiration, aspiration, and entrepreneurial spirit amongst those who have earned great fortunes here.

The West Midlands has always been a powerhouse of industry and manufacturing – and sits at the heart of Britain's economy.

We are home to fantastic businesses such as JLR, JCB, Homeserve and truly brilliant businessmen like Lord Bamford, Richard Harpin, and Roy Richardson and his family.

But as the list shows we are now branching out into digital and telecommunication markets that will provide the jobs of tomorrow.

That is vital for our future prosperity.

It is far too easy to describe those who feature on the annual list as 'fat cats' or 'greedy'.

Many of them have taken risks to make their fortunes or made massive sacrifices.

And, of course, they create jobs for others which in turn funds the country and our public services through taxation and spending.

You cannot have a strong public sector without a strong economy driven by a strong private sector.

And that all comes down to jobs.

That is not to say everything is perfect with wealth distribution in modern day Britain – we must do more to close the gap between the richest and the poorest and make life easier for those in the middle.

But we should not be fooled by fiscal arguments based on the assumption of spending other people's money.

If Britain wants a booming economy then it has to remove barriers for job creation.

The way we make a better West Midlands for everyone is by attracting investors to create those jobs here.

Seldom do people become super rich without putting in the work – despite what many on the left would have us believe.

For quality of life to improve in the West Midlands we need to be more business minded and more welcoming to companies who want to be based here.

The Sunday Times Rich List is not something we should besmirch but something we should use as a gauge to where this region is heading.

We need to promote aspiration – not lower it.