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Lakshmi Mittal remains richest man in Britain

LONDON: Indian steel magnate Lakshmi Mittal remains Britain’s richest man for the fourth consecutive year with an estimated fortune of £27.7 billion, according to the 2008 Sunday Times Rich List regarded as one of the most authoritative independent guides to the country’s super rich.

While some of his Asian peers saw their wealth dip over the past year, Mr Mittal’s went up by nearly £8 billion, making him the world’s sixth richest man.

Britain’s ten richest Asians include Swraj Paul, the Hinduja brothers and Naresh Goyal of Jet Airways.

All are way behind Mr. Mittal, who heads the overall list of Britain’s 1,000 richest persons followed by Roman Abramovich, the expatriate Russian oil baron and owner of Chelsea football club with a wealth of £11.7billion, and the Duke of Westminster with £7billion.

The list is dominated by high-profile foreign- born industrialists with only six native Britons figuring in the top 20.

Among those hit by the financial squeeze in the West is the Virgin boss Richard Branson, who dropped to 20th place with his wealth declining by £400 million.

Last year he was Britain’s 11th richest.

“The list …reveals that the native British are being overtaken by foreign billionaires,” The Sunday Times noted.

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Lakshmi Mittal remains richest man in Britain

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