The Hinduja brothers have emerged as the richest Asian-origin entrepreneurs in Britain for the fourth consecutive year with an estimated personal fortune of 16.5 billion pounds.
The India-born brothers G P Hinduja and S P Hinduja topped the ‘Asian Rich List 2016’ released here last night and the annual rankings showed that they had added one billion pounds to their personal fortune in a year to be worth an estimated 16.5 billion pounds.
The ‘Asian Rich List’ assesses the total wealth of Britain’s top 101 richest Asians and is compiled by UK-based publishing house Asian Media and Market.
Steel tycoon Lakshmi N Mittal was ranked second in the list, released by the Indian High Commissioner to the UK Navtej Sarna.
The fortune of Mittal, however, has plummeted by 3.3 billion pounds to finish with 6.4 billion pounds.
Leading NRI industrialist Lord Swraj Paul is listed as 15th richest with fortune worth 500 million pounds.
This year’s analysis showed that the UK’s richest Asians have their fortunes worth 55.54 billion pounds up from 54.48 billion pounds in 2015.
The highest riser and a new entry is Cyrus Vandrevala, with 2 billion pounds at number five. He moved to London with his wife Priya, having made his money in the US in the internet business. He is now in private equity and real estate.
Sri Prakash Lohia, chairman of the Indorama Corporation, is listed 3rd richest with fortune worth 3 billion pounds.
The Arora brothers – Simon, Bobby and Robin – owners of discount retail chain are 4th richest with a fortune worth 2.1 billion pounds.
Within the Hinduja group — conglomerate with interests across automotive, real estate and oil — Gulf Oil, Ashok Leyland, IndusInd Bank and Hinduja global Solutions appear to have done particularly well.
According to the Asian Rich List, Gopi Hinduja, co-chairman of the Hinduja group does not think that wealth should be measured only or even mainly by how much there is in someone’s bank account.
“If you consider one to be wealthy or rich only because of his money, you are totally wrong,” he said.
“I consider someone to be wealthy and rich if he has good friends, good contacts, good relationships. If you want to calculate my wealth by counting my money then you are wrong,” he said.
“My father always told his children, ‘Act local but think global’ and be diversified in your businesses. Don’t be in one sector, be in different sectors, and also be spread geographically. don’t be in just one country so that you are always balanced. If one sector is not doing well, the other will.”