This post was originally published on 7 May 2017.
The Hinduja brothers have topped the 2017 list of the richest people in the UK with an estimated fortune of £16.2 billion, a massive £3.2 billion hike in their fortunes over the previous year.
Besides the Hinduja brothers, there are over 40 Indian-origin super-rich in this year’s list of the UK’s 1,000 wealthiest people, who seem to be reaping a so-called “Brexit bonanza”, PTI reported.
‘The Sunday Times Rich List’ says that uncertainties triggered by Britain’s vote to leave the European Union (EU) last June have not impacted the country’s billionaires’ ability to make money, as they grew in numbers with a 14% rise in their fortunes since last year to earn a record £658 billion collectively.
Srichand and Gopichand Hinduja, aged 81 and 77, lead an elite group of 134 UK-based billionaires in the list and have made their fortune from investments in industries such as oil and gas, automotive, IT, energy, media, banking, property and healthcare sectors.
Their latest £350-million project is converting the Old War Office in London into a five-star hotel and luxury apartments, the newspaper notes.
“The Hindujas have also recently bought British assets including Careline, an outsourcing business, and the bus maker Optare. There are assets in Switzerland of about £3.6 billion, according to Bilan’s 2016 ‘Swiss Rich List’. Their six-storey mansion, a sapphire’s throw from Buckingham Palace, adds £300 million,” it adds.
Another set of India-born entrepreneurial brothers, David and Simon Reuben, who had topped the list last year have moved down to third place with a fortune of £14 billion and steel tycoon Lakshmi N. Mittal is at fourth with £13. 2 billion.