Two Indian-origin brother duos top Britain’s rich list

Srichand Hinduja,Gopichand Hinduja,World news

The Indian-born, London-based industrialists are estimated to be worth £22bn, up £1.35bn on last year's list.

This year, another pair of siblings, David and Simon Reuben, came in second.

Sri and Gopi Hinduja, whose Hinduja Group turned over almost £40bn past year, saw an increase of £1.36bn in their wealth, meaning they lead a record 151 billionaires in the list, six more than last time around.

Srichand and Gopichand Hinduja, who run the Hinduja Group of companies in the United Kingdom, registered a 1.35 billion pounds jump in their fortunes over the previous year to return to the top of the "Sunday Times Rich List" after topping it back in 2014 and 2017. The Reuben brothers snapped up Mayfair's £300-million Burlington Arcade, Shoreditch's Curtain hotel and a £132 million block in Piccadilly. The renowned steel magnate suffered losses to the tune of 3.99 billion pounds during 2018, which caused his fortunes to take a hit.

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.

The rich list reveals that despite a turbulent year, the 1,000 richest individuals and families in Britain are sitting on a record wealth of 1,002 billion dollars, an increase of 62.12 billion dollars compared with a year earlier.

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.

Musician Ed Sheeran doubled his wealth past year, while grime artist Stormzy made his debut on the rich list of young musicians with £16m. It does not include the amount contained in people's bank accounts, though.

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.

Ed Sheeran earned more during 2018 than any musician has in a single year, pushing his fortune up to £160m, making him fifth in the list.

The wealthiest woman in Britain is Sigrid Rausing, granddaughter of the man who invented the Tetra Pak packaging fortune. India has 76 billionaires, according to the Sunday Times. She is reportedly worth 12.2 billion pounds and ranked sixth.



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