Hindujas top UK's Richest British Asians list for fifth time
The Hinduja family has been named the UK's Richest British Asians for the fifth consecutive year, with an estimated £22bn net worth. The London-headquartered Hinduja Group headed by Hinduja brothers -Srichand, Gopichand, Prakash, and Ashok- had a robust 2017 to add an impressive £3bn to their 2016 net worth, according to the annual "Asian Rich List" published by UK-based Asian Media Group. Here's more.
What did Asian Rich List say on the Hindujas?
"The Hindujas' trading empire is spread over five continents and run by four brothers and their children, a testament to their incredibly strong family values. The group has what GP Hinduja likes to call 10 'verticals', spanning a variety of sectors and allowing true diversification."
India's Lakshmi Mittal, Sri Prakash Lohia on the list, too
Meanwhile, Indian steel tycoon Lakshmi N Mittal came in second on the Richest Asians in UK list with an estimated £14 billion fortune, up from the previous year's £12.6 billion. Mittal is followed by another India-born entrepreneur Sri Prakash Lohia, the Founder and Chairman of Indorama Corporation, a diversified petrochemical and textile company, with an estimated net worth of £5.1 billion.
Top 10 British Asians represent 68% of overall net worth
The 2018 list of Richest Indians in the UK shows the combined overall net worth of the featured 101 UK-based millionaires of South Asian origin hit £80.2 billion in 2017, an increase of just under £11 billion over the previous year. The top 10 richest British Asians are valued at a total of £54.25 billion, representing 68% of the total figure.
An inspiring picture that should energize entrepreneurs everywhere: AMG Executive
"The list shows the remarkable strength and diversity of Asian businesses in the UK. Despite the challenges of the general economy, many business leaders in the community have seen opportunity and potential and moved quickly to capitalize," said Shailesh Solanki, an Asian Media Group (AMG) Executive. Solanki is one of a panel of four experts who examined British Asian wealth over the last year.
Pakistani and Indian billionaires at 4th, 5th places
Ranked fourth this year is the Pakistan-born founder of Bestway conglomerate Anwar Pervez with £2.35 billion, followed by two other Indian-origin billionaires at joint fifth: retail giants Simon, Bobby & Robin Arora and metals tycoon Anil Agarwal with a net worth of £2.3 billion each.
Other South Asian businessmen on the Rich List
This year's list sees Sun & Sand Group's Rajesh Ram Satiija, Euro Garages' Zuber and Mohsin Issa, and Global Grange's Tony, Raj & Harpal Matharu, making it to billionaire status, taking the total number of Britain-based South Asian origin billionaires to 12. Satiija is among the high risers in terms of net worth this year, with an increase of £390 million to his wealth.
Entrepreneurs' role vital to economy, society: AMG
The Rich List would be formally unveiled at the 21st Asian Business Awards to honor outstanding achievements among British Asians. Some of the key award winners this year include ICICI Bank as Asian Business Bank of the Year, hotelier Joginder Sanger as Businessman of the Year, and Shamil Thakrar for Restaurant of the Year for his Dishoom chain of Indian restaurants in the UK.
