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Hinduja brothers top UK rich list, Reuben brothers second

Press Trust of India  |  London 

Indian-origin brothers dominate the annual rich list of Britain's wealthiest, with the Hinduja brothers ranked at No. 1 with a fortune of 22 billion pounds followed by Mumbai-born in second place with 18.66 billion pounds.

Srichand and Gopichand Hinduja, who run the of in the UK, registered a 1.35 billion pounds jump in their fortunes over the previous year to return to the top of Rich List' after topping it back in 2014 and 2017.

"Whether or not Britain leaves the EU, Gopi Hinduja is convinced it can forge a closer relationship with his family's homeland," notes the newspaper's profile on the 79-year-old of the Hinduja Group, G P Hinduja.

The London-based industrialist, along with UK-based brother Sri, 83, and their brothers Prakash, 73, and Ashok, 68, who live in and respectively, control more than 50 with a total turnover of nearly 40 billion pounds worldwide in 2018, notes the Rich List.

The family occupies four interconnected homes in Carlton House Terrace, bought from in 2006. Their business empire was founded by father in in 1914.

The Hindujas, described as devout Hindus eschewing meat and alcohol, have stakes in oil and gas, IT, energy, media, banking, property and Some of the biggest hike in profits last year came from London-registered Hinduja Automotive, which includes North Yorkshire and saw profits rise by 50 per cent to 337 million pounds on 3.5 billion pounds sales in 2017-18.

They had acquired former British Winston Churchill's old War Office in London's Whitehall for 350 million pounds back in 2014 and plan to open it as a luxury hotel with the Raffles group by 2020.

Mumbai-born siblings David, 80, and Simon, 77, with interests across property and internet, have been on a buying spree, taking hold of 1 billion pounds of property last year. The snapped up Mayfair's 300-million pounds Burlington Arcade, and a 132 million pounds block in Piccadilly.

"The pair could be excused for feeling flush after selling another stake in their data centres for 2.1 billion pounds last July, two years after 2.4 billion pounds for a separate chunk of the business," the Sunday Times' notes.

The brothers, who were ranked fourth in 2018, also saw a massive 3.56 billion pounds jump in their fortunes over the previous year to come in at second this year.

Another Indian-origin billionaire, Lakshmi N Mittal, suffered 3.99 billion pounds in losses to slip down to No. 11 in this year rich list, from No. 5 in 2018. The Rajasthan-born logged an estimated fortune worth 10.66 billion pounds last year as he gets set to take control of his first in with a purchase from

Mittal is followed in the list by Indian magnate Anil Agarwal, who had a good year and registered a 8.72 billion pounds spike in his fortunes to be ranked 12th with a fortune estimated at 10.57 billion pounds.

Other prominent billionaires who improved their fortunes in the 2019 analysis, which includes around 45 Indian-origin super-rich, includes textiles and Lohia with a 243 million pounds spike in earnings to hit No. 26 with a fortune of 5.4 billion pounds.

NRI industrialist Lord logged a 500 million pounds hike in his fortune to jump up from 90th in 2018 to 69th this year, with an estimated fortune of 2 billion pounds.

There were a few new Indian-origin entries to this year's list, including who has interests in transport and Ranked 75, India-born Vaswani clocked a fortune of 1.9 billion pounds via his and working alongside brothers Mahesh and Haresh.

Another new entry is Lord Dolar Popat, who runs care homes and hotels in the UK. Described as the first Tory of Gujarati descent in the House of Lords, the 65-year-old peer is credited with building up from just 10 pounds when he arrived in the UK aged 17 after being expelled by Idi Amin's regime in

Meanwhile, Sir Jim Ratcliffe, who topped last year's list, has slipped to third place, with 18.15 billion pounds.

The list, which estimates the 1,000 richest people in the UK, is based on identifiable wealth including land, property, other assets such as art, and shares in It does not include the amount contained in people's

"On the face of it this looks like a bumper year for the super-rich, with record wealth, more billionaires and the entry level rising to 120 million pounds. But many of the rich are nursing big losses after a year of turbulence on the stock market and political deadlock in Westminster, writes Robert Watts, the compiler of the list.

Technology is seen as making and breaking fortunes in this year's list, with young entrepreneurs making vast sums of money from online fashion retail, dating apps and creating YouTube videos.

The wealthiest woman in Britain is Sigrid Rausing, granddaughter of the man who invented the packaging fortune. She is reportedly worth 12.2 billion pounds and ranked sixth. Zimbabwe-born becomes the first black female ever to make the annual rich list, with a fortune of 122 million pounds from her business.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, May 12 2019. 15:51 IST
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