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Tuesday, Oct 15, 2019

Mittal richest in Europe and UK; fifth in the world

For the third successive year, the Indian steel tycoon has topped the list of the richest persons in Europe with a wealth of £19.25 billion, reports Vijay Dutt.

india Updated: Apr 30, 2007 03:26 IST
Vijay Dutt
Vijay Dutt

Lakshmi Mittal is doing what he does best. Making money.

For the third successive year, the Indian steel tycoon is top of a list of the super rich in Britain—who have also trebled their wealth during Tony Blair’s reign as prime minister.

As the prime minister prepares to leave Downing Street, the one legacy he leaves behind is a nation that has become a haven for the international super-rich. The number of billionaires living in Britain has surged to 68, up from last year’s 54.

Mittal’s own wealth galloped to £19.250 billion from £14.881 billion last year, increasing the distance between him and second-placed Russian oligarch Roman Abramovich (£10.800 billion) by almost £480 million within a year. Mittal’s growing wealth has been attributed to his successful takeover of Arcelor. Mittal is also the richest among the 50 richest in Europe, while the Hinduja brothers are at number 25. Among the 50 richest in the world, Mukesh and Anil Ambani, with a wealth of £19.6 billion, come in at number five, followed by Mittal at number six. Predictably, the top two positions stayed with two familiar names—the Walton family (Wal-Mart) topping with £42.6 billion, followed by Bill Gates with £28.7 billion.

Mittal, in fact, appears at number two among the year’s biggest risers and tops the list of the 20 fastest growing fortunes. The Hinduja brothers (£6200m), at number four in the Top 10, also figure just below Mittal among the years biggest risers, followed by Lord Swraj Paul (£1500m, placed at 36) at number seven in the list of 40.

In the mother of all rich lists, the ‘Sunday Times Rich List’, in which two Indians, Mittal and the Hinduja brothers figure in the top 10, there are only three who were born in this country, the richest among them is the Duke of Westminster (£7 billion), whose property holding valuations keep rising.

Referring to the “foreigners” in the Top 10, Philip Beresford, the compiler of the list, said: “There’s the cluster effect. Russians have followed Abramovich, Indians are following the Mittals and Swedes are following the Rausings.”

Top 10 richest in Britain:

Lakshmi Mittal (£19,250m), Roman Aramaic (£10,800m), The Duke of Westminster ( £ 7000m), Sri and Gopichand Hinduja( £6200m), David Khalil ( £ 5800m), Hans Rausing and family (£5400m), Sir Philip and Lady green (£49,00m), John Fredriksen ( £3500m), David and Simon Reuben( £3490m) and Jin Ratcliffe (£ 3300m)

Top 10 richest Asians: Nine of Indian-origin and one is from Pakistan

Lakshmi Mittal (£19250m), Sri and Gopichand Hinduja ( £6200m), Lord Pual £1500m), Anil Agarwal (£1420m), The Jatania Brothers (£ 1100m), Anurag dikshit (£ 920m), Tom Singh (£668m), Sir Anwar Pervez ( £543m), Naresh Goyal (£512m) and Gulu Lalwani (£450m)

First Published: Apr 29, 2007 14:02 IST

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