Srichand and Gopichand Hinduja have returned as the United Kingdom’s wealthiest in the 2019 Sunday Times Rich List, with steel magnate Lakshmi Mittal and family and mining major Anil Agarwal making it to the top 20 richest.
The Hinduja brothers replace British businessman Jim Ratcliffe on the top spot with a wealth of £22 billion, up £1.35 billion on last year’s list. The Mumbai born property developers, David and Simon Reuben, took the second spot with £18.6 billion.
The Hinduja brothers with interests in banking, oil and gas, IT and property topped the list in 2014 and 2017. The London-based Srichand, 83, and Gopichand, 79, are two of four brothers controlling the group.
Industrialist Swraj Paul and family are placed 69th with a wealth of £ 2 billion.
Robert Watts, who compiled the year’s list, said: “On the face of it this looks like a bumper year for the super-rich, with record wealth, more billionaires and the entry level rising to £120 million”.
“But many of the rich are nursing big losses after a year of turbulence on the stock market and political deadlock in Westminster. Technology is making and breaking fortunes. We are finding young entrepreneurs making vast sums of money from online fashion retail, dating apps and creating YouTube videos.”
{{/usCountry}}“But many of the rich are nursing big losses after a year of turbulence on the stock market and political deadlock in Westminster. Technology is making and breaking fortunes. We are finding young entrepreneurs making vast sums of money from online fashion retail, dating apps and creating YouTube videos.”
{{/usCountry}}The UK has 151 billionaires, third after the United States (463) and China (294). India has 76 billionaires, according to the Sunday Times. London is estimated to have 95 billionaires – more than any city in the world – with Mumbai 33 and Delhi 15.
Indian-origin billionaires, millionaires in Sunday Times Rich List: