Super-rich become wealthier again, Sunday Times says

[mgt23]

http://news.bbc.co.uk/1/hi/business/8642021.stm

The UK's super-rich have seen a resurgence in their fortunes, the Sunday Times Rich List suggests.

London-based steel tycoon Lakshmi Mittal topped the list for the sixth consecutive year with a £22.45bn pile.

Many, including Mr Mittal, were hit badly by the economic downturn, shrinking their wealth in 2009.

But the collective fortunes of the top 1,000 on the list have risen by 30% in the past year - the biggest jump in the list's 22-year history - to £333.5bn.

Last year the top 1,000 saw their fortunes decrease by about £155bn - to £258bn - and the number of billionaires fell from 75 to 43. This time, it has risen by 10 to 53.
   
RICH LIST TOP 10
1. Lakshmi Mittal and family, steel (£22.45bn)
2. Roman Abramovich, oil and industry (£7.4bn)
3. The Duke of Westminster, property (£6.75bn)
4. Ernesto and Kirsty Bertarelli, pharmaceuticals (£5.95bn)
5. David and Simon Reuben, property (£5.53bn)
6. Alisher Usmanov, steel and mines (£4.7bn)
7. Galen and George Weston, retailing (£4.5bn)
8. Charlene and Michel de Carvalho, inheritance, brewing and banking (£4.4bn)
9. Sir Philip and Lady Green, retailing (£4.10bn)
10. Anil Agarwal, mining (£4.1bn)

Send us your comments

Mr Mittal, who owns Arcelor Mittal, saw his fortune double from £10.8bn to £22.45bn as the global steel industry recovered from the economic decline.

Russian oligarch and Chelsea Football Club owner Roman Abramovich remains at second place with a £7.4bn fortune thanks to a 6% increase of £400m.

Third place again remains stable, with the Duke of Westminster's wealth increasing by £250m to £6.75bn. The British-born billionaire's money comes mainly from property.

Although retail giant Sir Philip Green and his wife Lady Christina Green saw their riches increase from £3.83bn to £4.10bn, they dropped in the rankings from sixth place to ninth.

But Indian-born Anil Agarwal was the highest climber. He moved 60 places up to 10th position thanks to the rising share prices of mining group Vedanta Resources.

His wealth jumped a staggering 583% from £600m to £4.1bn.

The highest placed new entry - number 12 - in the list is Chinese property tycoon Joseph Lau with a fortune worth £3.8bn.

The Queen, who is Britain's 245th richest person, saw her personal fortune rise by £20m to £290m.

Harry Potter film star Daniel Radcliffe, 20, is the highest-earning young actor with riches worth £42m.

The Rich List profiles the 1,000 wealthiest people in the UK and the 250 richest people in Ireland.

The list does not look at bank accounts but identifiable wealth such as shares, land, property and racehorses.