Economy

Hinduja brothers top UK’s Rich List for third time

Hinduja brothers top UK’s Rich List for third time”

Their business empire was founded by father Parmanand in Mumbai in 1914.

The Reuben brothers took hold of 1 billion pounds of London property only previous year.

David and Simon Reuben also rank second in the overall richest people in Britain list as well as richest Asians in Britain list with a net worth of £18.664bn. The Reuben brothers snapped up Mayfair's 300-million pounds Burlington Arcade, Shoreditch's Curtain hotel and a 132 million pounds block in Piccadilly.

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

The combined wealth of Britain's billionaires has reached £524.84bn, up from £480.45bn past year, a 9.2 per cent rise. The renowned steel magnate suffered losses to the tune of 3.99 billion pounds during 2018, which caused his fortunes to take a hit.

However, while other young people in the top 10 of the list can count their families for the reason for their huge fortunes, a number of music artists, footballers, and actors rank highly.

Indian-born industrialist brother, Sri and Gopichand Hinduja, reclaimed the title of Britain's wealthiest by posting fortunes of 22 billion pounds to their name.

"We couldn't even clad a building properly to prevent children burning and yet at the same time we've got more billionaires in this city than NY".

Meanwhile, chemicals firm founder Jim Ratcliffe, who topped last year's list, has slipped to third place. It does not include the amount contained in people's bank accounts.

His wealth grew to £12.6bn, a rise of £3.1bn in a year, sending him from 12th-richest person in the United Kingdom to fifth.

The Sunday Times said that after a year of turmoil on the stock market, the super-rich now feared the prospect of the main opposition Labour Party coming to power and forming a hard-left government.

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.

One of the wealthiest women on the list is Harry Potter creator J.K. Rowling, who has a fortune of 975 million dollars. She is reportedly worth £12.2bn and ranked sixth.



Like this

loading...
loading...

Latest


15 May 2019
UEFA looking to ban Manchester City from next season's Champions League
For all their domestic domination in recent years, European success is the one thing that still eludes oil-rich Manchester City. Well, the Mirror claim that a suspension would likely open the door for another Premier League club.

15 May 2019
HTC Exodus 1s blockchain phone announced, set to cost $250-300
The manufacturer has not shared a specific launch date but says the device will be priced at around $250-300. At the moment, there are only about 9,000 active bitcoin full nodes verifying blockchain transactions.

15 May 2019
How the American Idol Top 3 Plan to Win the Competition
For this episode, viewers were able to vote by text, via AmericanIdol.com/vote and on the "American Idol" app during the show. TVLine has reported that the network has made offers to all three judges to return, though no deals have been made yet.

15 May 2019
Kang claims AT&T Byron Nelson for first PGA Tour win
Kang finished his third round earlier on Sunday with a three-under 68 to enter the final 18 holes with a three-shot lead. Koepka has four consecutive birdies late in his second round, then started Saturday with birdies on the first two holes.

15 May 2019
New dad Prince Harry gets cute gift for baby son Archie
Harry was also out and about on Tuesday, taking a tour of Oxford, where he said he can not imagine life without son Archie . LISTEN: Tune in to 9Honey's bonus episode of The Windors, with all the details of Archie's birth .

15 May 2019
Jennifer Lawrence and Cooke Maroney's engagement party: Details
Before meeting the hunk, Jennifer dated 50-year-old filmmaker Darren Aronofsky between 2016 and 2017. Apparently it was a case of love at first sight - and now we're ready for a Hollywood wedding!

15 May 2019
WWE SmackDown Live Results From 5/14 Taping In London, England (Spoilers)
Roman Reigns opens SmackDown and introduces The Miz but they're interrupted by Elias and Shane McMahon. The four Superstars involved in the brawl returned after 205 Live (headlined by Tony Nese vs.

15 May 2019
Antoine Griezmann to leave Atletico Madrid
"@AntoGriezmann He has informed the club that he will not continue as rojiblanco next season", a tweet read. I just put the camera there to see how hard it is.

14 May 2019
United Kingdom politicians call for cancelling of Jeremy Kyle Show
The ITV star's show was taken off the air with immediate effect on Monday following the shocking death of one of his guests. She praised the show's team for their after-care efforts, telling the newspaper: "They were brilliant".

14 May 2019
Documentary on the final season of 'Game of Thrones' gets a trailer
Game of Thrones: The Last Watch will be a two-hour feature will premiere in Australia on Fox Showcase, Monday May 27th. The documentary is from British filmmaker Jeanie Finlay ( Seahorse , Orion: The Man Who Would Be King ).