Indian tycoon tops Britain's rich list

MEGA RICH: Mittal, pictured, remains the wealthiest person in Britain, according to The Sunday Times. (AFP)

Indian-born steel tycoon Lakshmi Mittal remains the wealthiest person in Britain, The Sunday Times newspaper's 2008 annual Rich List said.

His 27.7 billion British pounds ($54.9 billion), up 8.5 billion pounds on last year, keeps him topping the pile for the fourth year running.

And the UK's super-rich just keep getting richer, said the respected annual publication.

The top 1,000 multi-millionaires sit on a fortune of 412.8 billion pounds and have added nearly 53 billion pounds to their wealth in the last 12 months.

Britain is home to 75 billionaires - up from 68 in 2007 - of whom 40 were born abroad. Of the top 10, only three were born in Britain.

Mittal is followed by Russian oil tycoon Roman Abramovich (11.7 billion pounds) and the Duke of Westminster (7 billion pounds), who owns swathes of central London's top properties.

Two new figures on the list feature in the top 10.

Steel and mines magnate Alisher Usmanov comes in at number five with 5.8 billion pounds, one place ahead of pharmaceuticals couple Ernesto and Kirsty Bertarelli. The former Miss UK winner and her husband sit on a fortune of 5.65 billion pounds.

It takes 80 million pounds to make it among Britain's richest 1,000 people - up from 70 million pounds last year. There are 762 self-made millionaires among them.

Philip Beresford, who has compiled The Sunday Times Rich List since it was first published in 1989, said: "Until now, the 11 years of Labour government have proved a boon for the super-rich, rarely seen before in modern British history.

"However, much of the rise in this year's wealth can be attributed to one factor: the number of foreign rich who have made London or its environs the main home and base of operation."

Virgin tycoon Richard Branson dropped from 11th place to 20th as his empire plunged by 400 million pounds to 2.7 billion pounds.

Queen Elizabeth II has 320 million pounds, putting her at number 264. Her grandchildren Princes William and Harry have a joint fortune worth 35 million pounds.

Former Beatle Paul McCartney's fortune was revised down from 725 million pounds to 500 million pounds following his divorce battle with Heather Mills.

Other veteran musicians feature prominently, with Madonna and film director husband Guy Ritchie worth 300 million pounds, Elton John worth 235 million pounds, Mick Jagger worth 225 million pounds and Sting on 200 million pounds.

'Harry Potter' authoress J. K. Rowling saw her wealth rise by 15 million pounds to 560 million pounds.

Daniel Radcliffe, the 18-year-old star of the films, is on 20 million pounds.

Footballer David Beckham and his pop star wife Victoria went up 13 million pounds to 125 million pounds.

England striker Michael Owen topped the list of British-based footballers with a 41 million pound fortune.

Britain's top 10 billionaires in The Sunday Times Rich List 2008 (last year's rank and wealth in brackets, figures in pounds):

1. Lakshmi Mittal and family - steel - 27,700mn

2. Roman Abramovich - oil and industry - 11,700mn

3. The Duke of Westminster - property - 7,000mn

4. Sri and Gopi Hinduja - industry and finance - 6,200mn

5. Alisher Usmanov - steel and mines - 5,726mn

6. Ernesto and Kirsty Bertarelli, - pharmaceuticals - 5,650mn

7. Hans Rausing and family - packaging - 5,400mn

8. John Fredriksen - shipping - 4,650mn

9. Sir Philip and Lady Green - retailing - 4,330mn

10. David and Simon Reuben - property - 4,300mn

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM