Hinduja brothers top UK’s rich list

The Hinduja brothers have topped the 2017 list of the richest 1,000 people in the UK with an estimated fortune of £16.2 billion (~135,346 crore), a massive £3.2-billion (~26,735 crore) hike in their fortunes over the previous year as Britain’s wealthy “kept calm and carried on making billions” amidst the uncertainty over Brexit.

Besides brothers Srichand and Gopichand Hinduja, who invest in property, health care and oil and gas, there are over 40 Indian-origin super-rich in this year’s list which also includes a record number of British billionaires — 134 — with 14 new ones emerging over the last year.

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 per cent rise in their fortunes since last year to earn a record £658 billion (~5,497,401 crore) collectively.

List compiler Robert Watts said: “While many of us worried about the outcome of the EU referendum, many of Britain’s richest people just kept calm and carried on making billions.” He said a revived stock market had been behind the surge in wealth for the super rich.

“We expected to see a chilling effect in the run-up to the EU referendum, but that simply did not materialise,” Watts said. “A buoyant stock market usually drives the wealth of rich-listers higher, and since last June equities have soared.” Another set of India-born entrepreneurial brothers, David and Simon Reuben, who had topped the list last year have moved down to the third place with a fortune of £14 billion, and steel tycoon Lakshmi N Mittal is at the fourth position with £13.2 billion.