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Latest Rich List excludes Lakshmi Mittal, Hindujas

The list by Eastern Eye has dropped Lakshmi Mittal and Hinduja Brothers saying their assets are largely based outside UK.

india Updated: Dec 27, 2003 23:18 IST

A new Rich List of British Asians, compiled by Eastern Eye, a London-based weekly, has sprung a major surprise by omitting both the steel baron Lakshmi Mittal and the Hinduja Brothers.

But, it has scored a first by featuring Asian entrepreneurs in America and India as well, including too the "rising stars of the future". This list is to be unveiled next week.

An earlier list, compiled by AsianXpress, had omitted Hindujas, alleging that the brothers had transferred most of their wealth to India. This was denied by their spokesman. But it had named Mittal as the richest Asian with £1.17 billion

The Sunday Mail, which was the first to publish a list of 300 Rich Britons this year, had included the Hindujas and estimated that their wealth had gone up from £650 million last year to £670 million and slotted them at 40th position. It had included Mittal at 17th with assets estimated at £1.2 billion.

The Eastern Eye, which is to publish its list of 200 Rich British Asians on March 25, has in its preview report justified the exclusion of Mittal and Hindujas by saying that its focus has been on Asians whose wealth is concentrated primarily in Britain.

"For this reason Lakshmi Mittal, the Hinduja Brothers and Manubhai Madhvani are not included as their assets are largely based outside the UK."

The weekly says Britain's richest Asians list has undergone a change since last year to focus on Asians whose wealth is concentrated in this country. So it says, "the pride of place this year goes to Mike Jatania and his brothers George, Vin and Danny who are worth £460 million". As chief executive of Lornamead, Mike Jatania, the weekly claims, has reached a pinnacle in his career.

The top 10 include apart from the Jatania at the top, Vijay and Bikhu Patel in pharmaceuticals ( £290m) at number 2, followed by fashion dress chain owner Tom Singh (£290m), hotelier Jasminder Singh ( £240m), Lord Swraj Paul and family ( £225m), Food chain owner Sir Anwar Pervez (£192m), industrialist Anil Chandaria (£ 175m), hotelier Firoz Kassam £150m), Gulu Lalvani (£130m) and Bharat and Ketan Mehta who are in pharmaceuticals at (£ 130m).

First Published: Dec 27, 2003 22:16 IST