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Mittal tops Britain's rich list again
Mittal tops Britain's rich list again
Sunday April 29, 2007
Indian-born steel tycoon Lakshmi Mittal on Sunday again topped the list of Britain's richest with a fortune estimated at 19.25 billion pounds (28.23 billion euros, 38.46 billion dollars).
The Sunday Times Rich List 2007 said that the combined wealth of Mittal and the other richest 999 people amounts to just under 360 billion pounds, up from 301 billion pounds a year ago.
In the decade since Prime Minister Tony Blair came to power promising greater fairness, the wealth of the top 1,000 has risen by 260 percent, compared to average people whose wealth has increased by 120 percent, it said.
Having bolstered his position by acquiring Arcelor, the world's second-largest steel maker behind Mittal Steel, Mittal's fortune rose sharply from last year's 14.88 billion pounds, the newspaper said in its annual review.
Arcelor Mittal, as the combined business is known, produces 115 million tons of steel a year and accounts for about 10 percent of the world market.
Following Mittal on the list is Russian entrepreneur and Chelsea owner Roman Abramovich, who remained at number two while his fortune also remained the same at an estimated 10.8 billion pounds.
Though he may have suffered only a minor blow from his costly divorce from ex-wife Irina, she is now 452 on the list with 155 million pounds.
Many of the billionaires in Britain are foreigners who have chosen to make Britain their home, possibly for tax reasons. Only three of the top 10 were born in Britain.
Just over 220 of the richest 1,000 have made their money from property, with the Duke of Westminster leading the way at three in the overall list, with a fortune of seven billion pounds.
Fourth on the list are Sri and Gopi Hinduja -- players in industry and finance -- at 6.2 billion pounds.
The two new faces in this year's top 10 are Islamic art collector David Khalili and businessman Jim Ratcliffe.
Khalili, an Iranian Jew now living in London, has helped gain his 5.8 billion pound fortune by amassing a huge collection of Islamic art.
He has jumped from 99 in the list to number five.
Meanwhile Ratcliffe, ranked 10th this year, made his 3.3 billion pound fortune by building a business empire dubbed the chemical industry's "answer to Lakshmi Mittal."
Ranked sixth is packaging tycoon Hans Rausing at 5.4 billion pounds, seventh are retailers Sir Philip and Lady Green, at 4.9 billion pounds, while eighth is shipping magnate John Fredriksen at 3.5 billion pounds.
And ninth are metals and property moguls David and Simon Reuben, at 3.49 billion pounds.
Sir Richard Branson, the airline and music mogul, saw his rank drop from ninth to 11th, despite a fortune of 3.1 billion pounds.
Supermodel Kate Moss joined the top 100 richest women list with wealth estimated at 45 million pounds.
AFP
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