Asian Richie Richs
It is tribute to the Asians that most of them have been able to resist the downturn in the economy and have succeeded in increasing their wealth.Updated: Dec 27, 2003 22:35 IST
It is tribute to the Asians that most of them have been able to resist the downturn in the economy and have succeeded in increasing their wealth. Otherwise, for the first time in nearly a decade, the combined wealth of the top 1000 has fallen.
Says the Sunday Time Rich list compiler Philip Beresford: "Down 2 per cent or just over £3.8 billion - reducing the value of the top 1000 to £155.86 billion-plunge reflects a global trend in the past year that has seen more than £85 billion wiped off the assets of the richest 50 in the world."
But Indian-origin rich here seem to figure in almost every special category tables, except, rather significantly, in the fastest fallers. Hindujas and Mittal are in the fastest risers table, Dinesh Dhamija ( £110 m at 290th) is in the newcomers with £100 million or more assets table, Tom Singh ( £250 m at 133rd) in fashion trade table.
There are three couples, Navin and Varsha Engineer ( £111m), Ramesh and Pratibha Sachdev (£85 million) and Ranjit and Baljinder (£75m) in the richest husband and wife team category table. Among the 100 wealthiest women, there are five Indian-origin businesswomen.
The curry king, Sir Gulam K. Noon is 689th with his wealth put at £50 million. He is also listed among top donors, having given £100,000 to the Labour Party. With sugar being his main business, Manubhai Madhvani, is at 377th with £85 million, £10 million up from last year. Gulu Lalvani of Bintone has also increased his wealth to £150 million compared to £120 million in 2002 and is at 210th.
Lord Bagri and son Apurv are at 534th position with an estimated wealth of £64 million. They have climbed from 595th slot last year when their fortune was £60 million. Lord Bagri is looking forward to the delivery of his new car, one of the first £250,000 Maybach Limousines from Germany. He is preceded in the list by pharmaceuticals wholesalers, Bharat Shah and family, who are at 516th with £65 million worth assets.
Read on to know more on the burgeoning numbers of Asian Richie Richs.
First Published: Dec 27, 2003 21:38 IST