Hinduja family tops Asian Rich List with £25.2 bn; LN Mittal at 2
The London-based industrial tycoons are leading the list for the sixth successive year.
By PTI | Updated:
Agencies
S P Hinduja (second from right), G P Hinduja (R), Prakash Hinduja (L) and Ashok Hinduja.
LONDON: Leading London-based NRI industrial tycoons, the Hinduja family top the Asian Rich List 2019 for the sixth successive year with an estimated net worth of 25.2 billion pounds, an increase of over 3 billion pounds over the previous year.
According to the Asian Rich List 2019 released at the Asian Business Awards here on Friday night, Steel magnates Lakshmi Mittal and his son Aditya Mittal remained in second place, with 11.2 billion pounds- down 2.8 billion pounds.
Father-son duo Lakshmi and Aditya Mittal.
India's High Commissioner to the UK Ruchi Ghanashyam released the list which is a compilation of the 101 wealthiest Asians in Britain, highlighting exceptional entrepreneurial achievement over the last 12 months.
S P Lohia (Petrochemicals) took the third place with 5.8 billion pounds.
The entries of the Asian Rich List 2019 have a combined wealth of more than 85.2 billion pounds.
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The figure is increasing year on year and this year's overall wealth increases by over 5 billion pounds.
The list features seven new entries, including Hotelier Joginder Sanger and his son Girish Sanger who enter at number 40 on the list with an estimated value of 300 million pounds.
Leading NRI entrepreneur Lord Swraj Paul and family are 17th in the list with a net worth 900 million pounds- an increase of 100 million pounds over the previous year.
Lord Swraj Paul.
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Shailesh Solanki, executive editor of Asian Marketing Group (AMG) publisher of the Rich List said, "The Asian Rich List is carefully compiled by a team of experts and it is the definitive guide to Asian wealth in Britain."
Gopi Chand Hinduja, Co-Chairman of the Hinduja Group said "our existing portfolio of companies is all in the sunrise sectors. Our focus is on banking and financial services, healthcare and of course, philanthropy."
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In London, the Hindujas are continuing with the conversion of the Old War Office, on which they have a 250-year lease, into a luxury residential and 125-room Raffles Hotel complex.
Hurun Rich List: Mukesh Ambani Debuts In Top 10, While 23 Other Indians Join The Club; Bezos Stays Strong On Top
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Amazon's Jeff Bezos, whose wealth has been making headlines due to his impending divorce with wife Mackenzie, topped the Hurun Rich list for the second year. The 55-year-old's net worth is a staggering USD 147 billion. He is followed by Bill Gates at USD 96 bn, Warren Buffett at USD 88 bn, Bernard Arnault at USD 86 bn, and Mark Zuckerberg at 80 billion.
This year's list also saw RIL Chairman Mukesh Ambani make it to the top 10 for the first time. Here's a look at some interesting stats that the list brought out.
(Clockwise from left: Jeff Bezos, Bill Gates, Mukesh Ambani, Warren Buffett)
Amazon's Jeff Bezos, whose wealth has been making headlines due to his impending divorce with wife Mackenzie, topped the Hurun Rich list for the second year. The 55-year-old's net worth is a stagge..
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Despite a tough year for tech giants Facebook and Google, the founders of both the companies were among the top 10 richest people in the world.
The social media network, that celebrated its 15th anniversary in January, was embroiled in the Cambridge Analytica scandal, and has been facing allegations of data breach and privacy violation. However, that doesn't seem to have had much of an impact on founder Mark Zuckerberg's (C) wealth that was still up by USD 1 billion. As for the ranking, the 34-year-old dropped just one place to fifth on the list, yet remaining the youngest of the Top 10.
Google, too, has been at the receiving end of questions on privacy invasion, and parent company Alphabet was recently fined a record US$5.1bn by the European Union for abusing Android’s dominance in the smartphone market. But despite the tough times, 45-year-old Sergey Brin (L) and 45-year-old Larry Page (R) both made their debut in the top 10 on the list. Brin, who is also an avid data miner of Ethereum - the second largest crypto, was at No. 8 with USD 54 billion, while Page with USD 53 billion ranked at the 10th spot.
Despite a tough year for tech giants Facebook and Google, the founders of both the companies were among the top 10 richest people in the world. The social media network, that celebrated its 15th anni..
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Reliance Industries Chairman Mukesh Ambani became the first Indian to break into global top 10. The 61-year-old, who is the only Asian among the top 10, saw a USD 9 billion or 20% surge in his wealth, taking his net worth to USD 54 billion.
Ambani bucked the poor stock market trend in India in the last year, and Reliance Jio Infocomm announced the launch of international roaming between India and Japan, a first for India’s 4G mobile operators to provide VoLTE-based international roaming services in India. He also expanded investment in the entertainment sector with acquisitions worth USD 700 million in Hathway and Den.
Ambani, whose wealth is based on telecom, retail and energy, had also topped the Hurun India Philanthropy List 2018. Currently, the business tycoon is busy with the pre-wedding celebrations of his son Akash - for which he hosted over 850 guests in St. Moritz. In December last year, Ambani hosted the high-profile wedding of his daughter Isha.
Interestingly, Mukesh and his brother Anil Ambani both started with similar amounts after their split, but in the 7 years since then the older Ambani has added USD 30 billion, while Anil has lost over USD 5 billion - amounting to USD 1.9 billion this year. Recently, Anil Ambani was held in contempt of court by the Supreme Court for not paying up Ericsson Rs 540 crore.
Reliance Industries Chairman Mukesh Ambani became the first Indian to break into global top 10. The 61-year-old, who is the only Asian among the top 10, saw a USD 9 billion or 20% surge in his wealth..
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Elon Musk jumped 10 places to the 30th spot with USD 28 billion, on back of increase in SpaceX valuation. The Tesla boss, who has been courting trouble with the U.S. Securities and Exchange Commission due to his tweets that reach out to 25 million followers, ranked 3rd on the Top 10 Immigrant Billionaires list.
Musk, who is originally from South Africa, follows Google's Sergey Brin, and Maria Franca Fissolo of Ferrero Rocher on the immigrant billionaires list.
Elon Musk jumped 10 places to the 30th spot with USD 28 billion, on back of increase in SpaceX valuation. The Tesla boss, who has been courting trouble with the U.S. Securities and Exchange Commissio..
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The report also had some other interesting numbers. 430 billionaires dropped off the list this year, of which 40 were due to deaths and 1,246 saw a drop in their wealth.
China lost the maximum number of billionaires - 213, followed by India with 52.
Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher said, “a 23% drop in the Chinese stock markets coupled with a 6% drop in the Chinese Yuan were the main causes of the dropoffs in China, whilst for India it was a 10% decrease in the value of the Rupee.”
However, in the 201 new additions to the list, China took the lead with 52 billionaires, followed by the USA at 39, and India with 23.
(Representative image)
The report also had some other interesting numbers. 430 billionaires dropped off the list this year, of which 40 were due to deaths and 1,246 saw a drop in their wealth.China lost the maximum number ..
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The Walton family of Walmart is the richest family in the world with a cumulative net worth of USD 173 billion, ahead of Jeff Bezos.
(L to R in pic: Jim, Alice and Rob Walton)
The Walton family of Walmart is the richest family in the world with a cumulative net worth of USD 173 billion, ahead of Jeff Bezos.(L to R in pic: Jim, Alice and Rob Walton)
Women made up 15.5% of the list, similar to last year’s 15.3%. The number of self-made women billionaires fell by 3 last year to 56.
China has the maximum number of self-made billionaires led by 55-year-old Chinese property developer Wu Yajun.
The richest woman is 65-year-old L’oreal heiress Francoise Bettencourt-Meyers (in pic) with USD 49 billion.
Women made up 15.5% of the list, similar to last year’s 15.3%. The number of self-made women billionaires fell by 3 last year to 56.China has the maximum number of self-made billionaires led by 55-ye..
He said in India, there has been investment worth Rupees 1,000 crore (108 million pounds) in car and bus manufacturers Ashok Leyland, where Gopi's younger son, Dheeraj Hinduja, is chairman.
It recently inaugurated a cutting edge electric vehicle facility in its Ennore plant at Chennai. Ashok Leyland is introducing battery-operated technology in its buses.
Gopi said "All our businesses are going through a digital transformation journey."
For example, "Hinduja Global Solutions (HGS) is ramping up its headcount in the US, with plans to add 600 more people by June 2019 by setting up a new centre in Florida."
HGS, rebranded from HTMT Global, has a presence in 12 countries including the Philippines, the US, the UK, Canada, France, Germany, Italy, the Netherlands, Mauritius, the UAE and Jamaica. In India, it has 68 "delivery centres" in Bengaluru, Chennai, Hyderabad and Mumbai as well as in growing cities such as Mysore, Nagercoil, Durgapur, Siliguri and Guntur.
The Hinduja National Power Corp recently acquired Kiran Energy Solar Power for Rs 1,000 crore (108 million) to "augment our presence in the renewable and alternative energy space," Gopi explained.
In healthcare, special attention is being devoted to spreading "cancer awareness". In Mumbai, the PD Hinduja Hospital was involved in organising "the cancer is curable ride" on World Cancer Day on February 4.
