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Meet the latest billionaire bachelor—and he’s going to own lots of London

The untimely death of the sixth Duke of Westminster, aged 64, has shot his son and heir, 25-year-old Hugh Grosvenor, up the rankings of the world's wealthiest people.

He will now become one of only nine under-30s in the world's 300 wealthiest billionaires, and his wealth will far outstrip the others, according to Forbes magazine's 2016 rankings.

Luxury residential properties are seen on Eaton Place, Belgravia, in London, U.K.
Simon Dawson | Bloomberg | Getty Images

The seventh Duke of Westminster's family company, Grosvenor Group, owns property on five continents and reports more than $15 billion in assets under management. Its London holdings, which include much of Belgravia and Mayfair, are the jewel in the crown. If you've wandered around the leafy, upmarket squares of central London, you've probably walked down streets that the family trust owns.

The new Duke has kept a reasonably low profile, with appearances in the British media solely around his role as Prince George's godfather and for hosting a lavish 21st birthday party. That hasn't stopped plenty of breathless speculation about his new status as the country's most eligible bachelor.

After working for various parts of the family business when he graduated from Newcastle University, he started a new job at Bio-Bean, a green energy company which tries to turn coffee grounds into biomass fuel. Unusually for the British upper classes, he attended a state primary school, followed by a private day school near the family estate. The sixth Duke once told the Independent: "He has been born with the longest silver spoon anyone can have, but he can't go through life sucking on it. He has to put back what he has been given."

A spokeswoman for the family has asked for "they ask for privacy and understanding at this very difficult time" in a statement.