Top 101 in UK’s Asian Rich List possess 54.48 bn pounds
London: The net wealth of the top 101 in the Asian Rich List 2015 totals 54.48 billion pounds — a rise of 2.95 billion pounds over last year, with the Hinduja brothers and Lakshmi Mittal ranking number one and two.
The wealth of the NRI industrialist brothers G P Hinduja and S P Hinduja – who are into multiple businesses – has gone up by 2 billion pounds to 15.5 billion pounds, but that of steel tycoon Mittal has come down by 2.3 billion pounds to 9.7 billion pounds because of the decline in the price of steel.
According to the Asian Rich List, UK’s 101 Wealthiest Asians in 2015 brought out by EasternEye – a publication of Asian Media and Marketing Group, the net worth of the people on the list has risen by 5.7 per cent over last year.
Leading NRI industrialist Lord Swraj Paul, founder Chairman of the Caparo Group, has been listed at number 12 with a net wealth of 725 pounds million, down 25 million pounds over the previous year.
The Rich List observed that the past year has been very successful for the Hindujas. They acquired the Old War Office at Whitehall once occupied by Britain’s War-time Prime Minister Sir Winston Churchill, for a reported 300 million pounds for redevelopment.
They also saw a surge in market capitalisation of some of their companies such as Gulf Oil India and Ashok Leyland as well as their IndusInd Bank.
According to the List, the Hinduja group may soon add an 11th “vertical” – defence – to the 10 they already have, namely autonomous businesses in the areas of health, energy, power generation, automotive, finance ad banking; oil and gasl IT and BPO, media and cable; real estate and trading.
The list called 64-year-old Mittal as today’s “most important man in the world of steel by virtue of being chairman and chief executive of ArcelorMittal”.
ArcelorMittal, formed in 2006 from Mittal Steel’s takeover and merger with Arcelor, is present in over 60 countries and has an industrial footprint in over 20 nations.
“It is the leading supplier of quality steel products in all major markets including automotive, construction, household appliances and packaging,” said the company that describes itself as the world’s leading steel and mining firm.
The List also noted that Paul is very encouraged by India due to a great deal of “new confidence (that) has come in”.
“There have been issues for quite some time now but this government is very determined and it has promised that it will remove those obstacles.
“I have great faith in the ability and straightforwardness of the finance minister (Arun Jaitley).”
His opinion of President Pranab Mukherjee is also high.
“The president is perhaps the most experienced man, having held every job possible,” Paul said, even as he cautioned against expecting overnight change.
“It is a nightmare job, it’s not going to happen. If (Prime Minister Narendra) Modi can deliver 25 per cent of what he set out to do in his first term, it will be a great achievement.”