Business Other News 08 May 2017 Hinduja brothers top ...

Hinduja brothers top UK wealth list

DECCAN CHRONICLE.
Published May 8, 2017, 1:06 am IST
Updated May 8, 2017, 1:06 am IST
There are over 40 Indian-origin super-rich in this year’s list which also includes a record number of British billionaires.
With an estimated fortune of £16.2 billion, a massive £3.2 billion hike in their fortunes over the previous year as Britain’s wealthy “kept calm and carried on making billions” amidst the uncertainty over Brexit.
 With an estimated fortune of £16.2 billion, a massive £3.2 billion hike in their fortunes over the previous year as Britain’s wealthy “kept calm and carried on making billions” amidst the uncertainty over Brexit.

London: The Hinduja brothers have topped the 2017 list of the richest 1,000 people in the UK with an estimated fortune of £16.2 billion, a massive £3.2 billion hike in their fortunes over the previous year as Britain’s wealthy “kept calm and carried on making billions” amidst the uncertainty over Brexit.

Besides brothers Srichand and Gopichand Hinduja, who invest in property, healthcare and oil and gas, there are over 40 Indian-origin super-rich in this year’s list which also includes a record number of British billionaires —134 — with 14 new ones emerging over the last year.

 

‘The Sunday Times Rich List’ says that uncertainties triggered by Britain’s vote to leave the EU last June have not impacted the country’s billionaires’ ability to make money, as they grew in numbers with a 14 per cent rise in their fortunes since last year to earn a record £658 billion collectively.

List compiler Robert Watts said, “While many of us worried about the outcome of the EU referendum, many of Britain’s richest people just kept calm and carried on making billions.”

He said a revived stock market had been behind the surge in wealth for the super-rich. “We expected to see a chilling effect in the run-up to the EU referendum, but that simply did not materialise,” Mr Watts said.

 

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

Another set of India-born entrepreneurial brothers, David and SimonReuben, who had topped the list last year have moved down to third place with a fortune of £14 billion and steel tycoon Lakshmi N. Mittal is at fourth with £13.2 billion.

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