The Hindu : Asians in Britain's `rich list'

Online edition of India's National Newspaper
Monday, Feb 25, 2002

International

International

Asians in Britain's `rich list'

By Hasan Suroor

LONDON, FEB 24. The controversial Indian steel magnate Lakshmi Mittal remains the richest Asian in Britain with an estimated wealth of 1billion pounds, according to a list of the country's 300 billionaires and millionaires for 2002 published by the Mail on Sunday the first of such lists compiled by British newspapers every year.

Despite a slight drop in his wealth since last year, he continues to be way ahead of his other eight Asian compatriots including the Hinduja brothers and Lord Swraj Paul. Unlike them, he is not a British citizen but shares with them his enthusiasm for Labour Party to which he donates regularly — and on a good day can pull some pretty strong strings.

Mr. Mittal is the 18th richest man, rubbing shoulders with the maverick Virgin chief, Richard Branson, who has slipped from the No. 4 position he occupied last year. The Hinduja brothers are mere millionaires with an estimated wealth of 650 million pounds which makes them the 40th richest millionaire, notches above Lord Paul and Manubhai Madhvani both of whom get the 200th slot with a weath of 160 million pounds each. They trail Bikhu and Vijay Patel whose pharmaceutical empire is estimated to be worth 230 million pounds; Tom Singh whose designer garments trade stands at 213 million pounds; Gulu Lalvani, the electronics pioneer with estimated assets of 170 million pounds.

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