Published: Wed, May 15, 2019
Economy | By

Asians most heavily represented ethnic minority in United Kingdom rich list

Asians most heavily represented ethnic minority in United Kingdom rich list

The Hinduja brothers are once again the wealthiest people in Britain, according to The Sunday Times newspaper's Rich List 2019. One of this year's lists rank the richest Asians in the United Kingdom, which includes 82 entries.

The figures have led to calls for the super-rich to donate more to good causes.

While her fortune remained the same as past year, she slipped down the ranking from joint 344th. The calculations do not include the amount contained in people's bank accounts.

Last year, Sir Jim Ratcliffe, the chemicals billionaire, was number one.

The Hindujas have stakes in oil and gas, IT, energy, media, banking, property and healthcare.

Sri and Gopi Hinduja placed first on the Sunday Times rich list for the third time with an estimated fortune of £22 billion pounds.

In second place are another set of billionaire brothers - David and Simon Reuben.

The Rajasthan-born steel magnate logged an estimated fortune worth £10.66 billion a year ago as he gets set to take control of his first steel plant in India with a purchase from Essar Steel. She appears alongside her brother Jorn Rausing in sixth place, with a combined estimated wealth of £12.256bn. "But numerous 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.

Billionaires and multimillionaires are said to be making plans to protect their fortunes, which include moving their assets and businesses overseas, in preparation of tax increases should the Labour leader enter Downing Street. "We are finding young entrepreneurs making vast sums of money from online fashion retail, dating apps and creating YouTube videos". The group produces whisky including Grant's, Glenfiddich and The Balvenie, as well as Hendrick's gin.

Soviet-born businessman Sir Len Blavatnik was fourth-wealthiest, with a fortune put at £14.8bn.The inventor Sir James Dyson was the biggest victor in the list.

The richest sports star aged 30 or under was named as Northern Irish golfer Rory McIlroy.

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

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