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Mittal tops UK’s richest power list; Sarin at 24th

Mittal tops UK’s richest power list; Sarin at 24th
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First Published: Fri, Jul 04 2008. 05 07 PM IST
Updated: Fri, Jul 04 2008. 05 07 PM IST
PTI
London: Money and power being “natural bedfellows” is not necessarily true in the British business world, except for steel tycoon Lakshmi Mittal who figures right on the top of a new ‘Richest Power List´, compiled after combining two separate rankings of the most powerful and the most richest in the UK.
Giving Mittal company on the new list, compiled by the Times newspaper, is another Indian-origin executive Arun Sarin, the world’s top mobile firm Vodafone’s outgoing CEO, who has made it to 24th in the combined list, even though he does not figure among the top 1,000 richest persons in the UK.
Mittal, with an estimated fortune of 27.7 billion pounds, had also topped this year the Sunday Times Richest List, which has been combined with the Times Power 100 list to make the “Richest Power List”.
The Power 100 is an annually compiled survey of the top names in business in the UK. The Times newspaper cross- referenced those on the Power 100 list with another annual ranking, The Sunday Times Rich List, to produce the Richest Power List.
The daily said, “Money and power have always been thought of as natural bedfellows: you only stand a chance of holding sway if you have the wealth to back it up.”
“To test the truth of this we combined The Times Power 100 with The Sunday Times Rich List - and we discovered the opposite. In the world of British business at least, it seems that you don’t have to be rich to be powerful,” it noted.
Out of the 26 of the Power 100 who also made it onto the Rich List, only ten got a place in the top hundred, it added.
“Lakshmi Mittal, who tops the Rich List, also leads our combined list,” the Times said. Mittal, CEO and main promoter of the world’s largest steelmaker ArcelorMittal, was ranked sixth in the Power 100 list.
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First Published: Fri, Jul 04 2008. 05 07 PM IST