LONDON – As the saying goes – The Rich get Richer… And the lure of money has no bounds. Even as United Kingdom is to come in terms with the Global Recovery, Indian- origin business tycoons are making headline in the Sunday Times Rich List for 2011 for UK, reports Track. In.
Rajasthan-born Lakshmi Nivas Mittal has yet again topped with a coveted numero uno position for the sixth consecutive year for the UK’s Top 15 Rich List. A sharp recovery in the Steel markets has enabled the steel baron to witness a surge in his fortunes from 10.8 billion pounds in 2010 to 22.45 billion pounds in 2011.
Another Indian-born business tycoon Anil Agarwal of mining group Vedanta Resources witnessed a surge in his wealth from 600 million pound to a whooping 4.2 billion pounds. In this journey of fortune making, Agarwal saw the highest improvement by 60 places up the list with six-fold jump in his wealth as the share prices of Vedanta added 3.5 billion pounds to their business.
The two other Indians on the top 15 list are the Hinduja brothers- Srichand at Number 9 with a net worth 7.6 billion pounds and Gopichand at twelfth position with 6 billion pounds.
Taking together, the wealth of the three Indian-origin industrialists makes up 22 percent of the top 15 of the ultra-rich club to a total of 133.33 billion pounds.
Other than the Indian business tycoons, business barons of Russia are also listed in Britain’s ultra-rich club. Alisher Burkhanovich Usmanov, who is part owner of the English football club Arsenal is worth 16.4 billion pounds. Apart from Usmanov, the other two Russians in the list include, Roman Abramovich, owner of the Chelsea Football Club, an English Premier League football team worth 12.1 billion pounds and Leonard Blavatnik, owner of LyondellBasell Industries, the third largest chemical producing company in the world worth 9.5 billion pounds.
“The wealth composition of the United Kingdom, London in particular is diverse,” said David Lincoln, Director of Research at Wealth-X to Hindustan Times. “This is reflected in our data showing that 31 percent of the ultra-high net worth (UHNW) in the United Kingdom is considered non-domiciled, with non-resident Indians and West Asian ultra-high net worth Indians making up a significant proportion in wealth.” The combined wealth of all UHNW put together is estimated at 1.3 trillion pounds.
One can say that a boom in commodities and metal markets have seen a sharp reversal in the fortunes of Indian-born business tycoons.
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