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Lakshmi Mittal richest in Britain

Lakshmi Mittal richest in Britain
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First Published: Sun, Apr 29 2007. 05 09 PM IST
Updated: Sun, Apr 29 2007. 05 09 PM IST
PTI
London: NRI Steel tycoon Lakshmi Mittal today for the third successive year topped the list of the richest person in Britain with a wealth of 19.250 billion pounds even as the Hinduja brothers and Lord Swraj Paul emerged as the second and third richest Asians in the UK.
According to The Sunday Times Rich List 2007, 56-year-old Mittal, President and CEO of Arcelor Mittal - the world’s largest steel producer, saw his wealth shoot up from 14.881 billion pounds in 2006 to 19.250 billion pounds this year, an increase of staggering 4.369 billion pounds in one year.
The wealth of Sri Chand and Gopi Chand Hindujas, Chairman and President respectively of the Hinduja Group, registered a steep increase during the last one year - from 3.6 billion pounds to 6.2 billion pounds catapulting them to the position as the second richest Asians and fourth richest in the UK.
Similarly, Lord Swraj Paul, founder-Chairman of the Caparo Group, also witnessed substantial growth during the year with the total wealth increasing from 465 million pounds to 1.5 billion pounds this year. The 76-year-old Lord Paul’s wealth is almost five times that of Queen Elizabeth II, whose wealth has been estimated at 320 million pounds.
The Rich List stated that Caparo Group posted profits of about 55 million pounds on 2.7 billion sales in 2006 and is expanding worldwide.
“Meanwhile, one of Paul’s sons, Ambar, is growing the family’s Contemporary Hotels operation, while another son Angad, the CEO of the Group has undertaken setting up of a series of automobile metal pressing, fasteners and Tools and Dies plants in India. With record prices for steel businesses, Caparo is worth at least 1.4 billion pounds on its 2006 figures. We add 100 million pounds for Indian assets and property, including hotels and restaurants.”
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First Published: Sun, Apr 29 2007. 05 09 PM IST
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