Story, Snowcroft and Day in the rich list

Violet Tucker
May 9, 2017

The estimated net worth of the brothers, who have amassed their fortunes with investments in various industries including oil and gas, automotive, IT, energy, media, banking, property and healthcare sectors, is around £16.2 billion, about £3.2 billion more than a year ago.

Publicity-shy brothers David and Simon Reuben, who topped the year last year, fell down two places despite adding £900 million to their £14 billion fortune. Another set of India-born billionaire brothers, David and Simon Reuben, who had topped the list previous year, have moved to third place, with steel tycoon Lakshmi N Mittal at fourth.

New entries to the "Rich List", compiled by the Sunday Times, include Mike Cannon-Brookes and Scott Farquhar, co-chief executives and founders of software giant Atlassian, and brothers Mohsin and Zuber Issa, who run a petrol station empire through their company Euro Garages.

List compiler Robert Watts told the BBC: "While many of us anxious about the outcome of the European Union referendum, many of Britain's richest people just kept calm and carried on making billions".

Mr Watts said: "We're seeing more and more diversity in the composition of the Rich List".

Hinduja Brothers Srichand and Gopichand are the Indian tycoon to become the top billionaires in United Kingdom. His personal fortune went up more than £6 billion to £13.23 billion. Ukrainian businessman Len Blavatnik is in second place (the Hinduja brothers's position till 2016).

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London was also revealed to have more billionaires than any other city in the world, with 86. "A buoyant stock market usually drives the wealth of Rich Listers higher, and since last June equities have soared", Watts said.

They are ranked 133rd on the list with a fortune of 1 billion pounds.

Among the 58 newcomers - a minimum of £110 million is now required to make the list compared to just £15 million in 1997 - are famous names including chart topper Adele.

But the double digit growth in the combined fortunes of Britain's richest 1000 people-which rose from £575 billion in 2016 to £658 billion (S$1.2 trillion) in 2017-also underscores rising inequalities in the country.

The figure in 2016 was 103 million pounds. The top 20 in the list alone are worth a total of £191.77 billion.

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Other reports by Guamnewswatch

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