Hinduja brothers reach Britain's richest billionaires list, Mittal at third place

LONDON, 12 May-2014, Agencies: India-born Hinduja brothers have edged out steel tycoon Lakshmi N Mittal and Russian magnate Alisher Usmanov to emerge as Britain’s richest billionaires , valued at a whopping £11.9 billion.

The Sunday Times’ annual list of the UK’s super rich will be released next Sunday but some preview figures indicated that the London-based Hindujas have seen an estimated jump of £1.3 billion in their fortunes . Gopichand and Srichand Hinduja, who run the multinational Hinduja Group conglomerate with interests across automotive, real estate and oil, have a fortune of £11.9 billion, according to the figures compiled by the newspaper.

Hinduja brothers reach Britain’s richest billionaires list, Mittal at third place

Hinduja brothers reach Britain's richest billionaires list, Mittal at third place

Arsenal shareholder and Russian business chief Usmanov fell to the second place after his estimated fortune dropped to £10.65 billion , followed by Kolkataborn Mittal in the third place with £10.25 billion, registering a growth in profit from last year by £250 million.

The list this year also revealed that London has more billionaires than any other city in the world and the number of billionaires living in the UK as a whole has risen to more than 100 for the first time.

There are now 104 billionaires based in the UK with a combined wealth of more than £301 billion.

The British capital is home to 72 people whose aggregated family wealth tops £1 billion. The next most prosperous world city is Moscow, which boasts of 48 billionaires, just ahead of US cities New York and San Francisco.

“London is the financial centre of the world. It straddles time zones so they can come here and get the best financial advice. They like the culture, the tax regime is nice for them and they feel safe here,” says ‘Rich List’ author Philip Beresford, explaining London’s supremacy.