Hinduja brothers top list of 134 United Kingdom billionaires with £16.2 bn

Tammy Harvey
May 9, 2017

The combined wealth of the top 500 individuals was £580.4bn, which is more than the £575.6bn total of all 1,000 richest people past year.

Ukrainian businessman Len Blavatnik, whose empire includes the Warner Music Group, is in second place on the list with a fortune of £15.982 billion, while brothers David and Simon Reuben, 78 and 76 respectively, rank third this year.

Alastair McCall, who edited the Rich List, said: "While many of us anxious about the outcome of the European Union referendum, many of Britain's richest people just kept calm and carried on making billions".

Having first topped the list in 2014, the Hinduja brothers, Srichand, 81, and Gopichand, 77, have a vast array of business investments under the Hinduja Group.

Another set of India-born entrepreneurial brothers, David and Simon Reuben, who had topped the list a year ago have moved down to third place with a fortune of 14 billion pounds and steel tycoon Lakshmi N.

"A buoyant stock market usually drives the wealth of rich-listers higher, and since last June equities have soared".

Lakshmi Mittal, CEO of ArcelorMittal, is fourth on the Sunday Time Rich List 2017.

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 previous year.

UK-based billionaires have seen their combined wealth shoot up by 14%, or £83bn ($108bn), despite the aftermath of the historic Brexit vote, which projected financial uncertainty.

The wealth of Britain's richest has rocketed with more billionaires than ever before, new figures reveal.

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

The minimum wealth required to break into the Sunday Times rich list is now £110 million of assets.

But the double digit growth in the combined fortunes of Britain's richest 1000 people-which rose from £575 billion in 2016 to £658 billion (S$1.2 trillion) in 2017-also underscores rising inequalities in the country.

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

The top 20 in the list alone are worth a total of £191.77bn, increasing their wealth by £35.18bn over the past 12 months.

Other reports by Ligue1talk

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