The fortunes of Britain’s wealthiest people soared to record levels last year, according to the annual Sunday Times Rich List published today.
The combined wealth of Britain’s 1,000 richest people is now 414 billion pounds ($670 billion), the highest recorded by the 24-year-old survey, the Sunday Times newspaper said.
The three top places in the list were dominated by foreign-born magnates with a base in Britain who earned their fortunes from resource-based industries such as minerals, steel and oil.
Lakshmi Mittal retained his crown as Britain’s richest man despite losing almost a quarter of his wealth over the past year following a fall in the share value of his ArcelorMittal, the world’s largest steelmaker.
The Indian-born businessman saw his personal worth slide by 4.8 billion pounds to 12.7 billion pounds, but that was still enough to keep him narrowly on top of the list.
However, the world’s richest Indian business tycoon is Mukesh Ambani who has topped the list of billionaires from the country in the Forbes magazine’s annual list of the world’s richest billionaires.
Mr Ambani, 54, has amassed a $22.3bn fortune and is ranked 19th in the the global rich list, the magazine said.
He is the chairman and managing director of Reliance Industries, one of the largest conglomerates in the world.
Of the 1,226 billionaires in this year’s Forbes list, 48 are from India.
Uzbek-born billionaire Alisher Usmanov, who owns around 30 percent of London soccer club Arsenal, was again in second place and close behind Mittal with a fortune of 12.3 billion pounds.
Russian investor Roman Abramovich, who owns rival London club Chelsea, held onto third place with a personal value of 9.5 billion pounds, down from 10.3 billion pounds last year.
Their good fortune contrasted with the economic plight of many Britons who face five years of austerity aimed at wiping out a record budget deficit as the economy struggles to recover from the 2008 financial crisis.
The richest British-born billionaire was the Duke of Westminster, who slid from fourth to seventh place even though his largely property-based fortune rose five percent to 7.35 billion pounds.
The UK Rich list is based on identifiable wealth, including land, property and other items, such as art, racehorses or significant shares in publicly quoted companies, but does not include bank accounts.
But it’s not just billionaires that represent UK based foreign born entrepreneurs. Hundreds of thousands of migrants have created huge fortunes in Britain’s business friendly market.
Look in any British high street and you will see businesses run by Indian, Pakistani, Sri Lankan, Chinese, Turkish and increasingly Eastern European entrepreneurs from Poland, Bulgaria and Romania.
How to reach your goals
Starting a business in the UK is far easier than in most countries. You can order a company online and also register your business with HMRC online without filing in dozens of forms or visiting offices in person.
Have you ever wanted to start your own business? Do you have dreams and goals but don’t know how to get started?
In May, Brian Tracy, the renowned speaker and author himself a US based migrant, is running a 30 day worldwide GOAL SETTING CHALLENGE.
It’s free to enter and he is even giving away prizes (as if starting and reaching your goal is not reward enough) for the winners!
Challenge begins on May 1st. Deadline to join the challenge is 5pm PST May 1, 2012.
Think you’ve got what it takes to compete in Brian Tracy’s 30-Day Goals Challenge?
Go for it!
Missed the deadline? No problem! See more free offers –
Attention: success-driven individuals who are ready to STOP hoping and START doing…
Revealed – a proven, step-by-step process for taking action and moving forward toward ANY goal.
“Taking Action,” a brand new special report straight from Success Expert Brian Tracy, best-selling author and owner of a multi-million-dollar international company. CLICK HERE FOR full details…