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Rich NRIs get richer in UK

London, April 29
Britain is now home to almost 70 billionaires with steel magnate Lakshmi Mittal heading the latest annual Rich List compiled by The Sunday Times.

The number of billionaires in Britain has trebled in the last four years and their fortunes have grown faster than anywhere else in the world, the list calculated.

"The richer you are, the easier it is to get even richer," compiler Philip Beresford said.

Mittal led the field with a fortune estimated at £19.25 billion.

The Hinduja brothers and Lord Swraj Paul emerged as the second and third richest Asians in the UK.

According to The Sunday Times Rich List 2007, 56-year-old Mittal, President and CEO of Arcelor Mittal - the world’s largest steel producer, saw his wealth shoot up from £14.881 billion . in 2006 to £19.250 billion this year, an increase of staggering £4.369 billion in one year.

The wealth of Sri Chand and Gopi Chand Hindujas, chairman and president, respectively, of the Hinduja Group, registered a steep increase during the last one year - from £3.6 billion to £6.2 billion catapulting them to the position as the second richest Asians and fourth richest in the UK.

Similarly, Lord Swraj Paul, founder-Chairman of the Caparo Group, also witnessed substantial growth during the year with the total wealth increasing from £465 million to £1.5 billion this year. The 76-year-old Lord Paul’s wealth is almost five times that of Queen Elizabeth II, whose wealth has been estimated at £320 million.

According to the Rich List, mining baron Anil Agarwal is the fourth richest Asian with wealth worth £1.420 billion followed by the Jatania brothers (toiletries and property - £1.100 billion), Anurag Dikshit (internet gambling - £920 million), Tom Singh (fashion - £668 million), Sir Anwar Pervez (Cash and carry - £543 million), Naresh Goyal (Airlines - £512 million) and Gulu Lalvani (Consumer electronics - £450 million).

There are as many as 31 NRIs in the Rich List whose wealth is estimated to be over £75 million.

According to Philip Beresford, compiler of the Rich List, it has been another record-breaking year for Britain’s super-rich with the number of billionaires rising by 14 to 68 and the country’s richest 1,000 increasing their fortunes by 20 per cent to almost £360 billion. — PTI, Reuters

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