Published: Tue, May 09, 2017
Business | By Patricia Jimenez

United Kingdom rich rolling in it despite Brexit

United Kingdom rich rolling in it despite Brexit

Sri and Gopi Hinduja are the richest people in the United Kingdom with a fortune of £16.2bn, and the brothers are among a record 134 billionaires on the list, 14 more than were recorded in the 2016 edition.

It also showed that 19 of the country's mega rich have seen their wealth grow in the past year by a billion pounds or more.

Another set of India-born billionaire brothers, David and Simon Reuben, who had topped the list previous year have moved down to third place with steel tycoon Lakshmi N Mittal at fourth. There was not a single Briton in the top 5, with Ukranian businessman Len Blavatnik picking up the 2nd spot with an approx £15.98 billion net worth and Russian oligarch Alisher Usmanov at the fifth spot with a net worth of approximately 11.8 billion.

"The astonishing strength of this year's Rich List defies expectations that wealth would stall in the lead up to last summer's European Union referendum and then crash after the decision to leave the European Union", said the newspaper in its editorial.

The compiler has placed a total of 40 Indian-origin people in the rankings, including the Gujarati brothers Mohsin and Zuber Issa of Euro Garages whose one billion pounds puts them at 133rd position.

"The Sunday Times Rich List" which releases the names of UK's 1000 wealthiest people included a total of 40 Indian-born citizens in 2017 list.

In addition, the number of billionaires in the country, in which London boasts more than any other city in the world, rose to 134 from 120 past year.

They are ranked 133rd on the list with a fortune of £1 billion.

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Andy Bell, who launched the AJ Bell platform in 1995, is worth £165m, earning him 678 place on the Rich List.

NRI industrialist Lord Swraj Paul's business marked an £80-million dip over past year, moving him down to the 194th slot, with an estimated wealth of £660 million.

Among the artists, Mumbai-born sculptor Anish Kapoor makes the list of 1,000 with £134 million.

"We're seeing more and more diversity in the composition of the Rich List".

He joins popular singer Adele, who is listed as Britain's wealthiest female musician with £125 million.

"A number of Paul's businesses went into administration in late 2015 as a result of the steel industry crisis and his London-based Caparo Group, which includes property interests, saw its assets sink from £77 million pounds to £49.6 million pounds", the list notes.

The figure in 2016 was 103 million pounds.

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