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Wealthy Record 2019: Hinduja brothers high rankings for third time

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Brothers Srichand and Gopichand Hinduja have a mixed web price of £22bn, the Sunday Instances estimates

The billionaire Hinduja brothers have been named because the wealthiest individuals within the UK for a 3rd time, in keeping with the Sunday Times Rich List.

Sri and Gopi Hinduja noticed their fortune enhance by £1.356bn within the final yr to £22bn, the paper estimates.

In the meantime, chemical substances agency founder Sir Jim Ratcliffe, who topped final yr’s record, has slipped to 3rd place.

And Valerie Moran turns into the primary black feminine entrepreneur ever to make the paper’s Wealthy Record.

Household enterprise the Hinduja Group was based in Mumbai in 1914, and now has pursuits all over the world together with in oil and fuel, banking, IT and property.

British residents Sri, 83, and Gopi, 79, who’re primarily based in London, are two of the 4 brothers controlling the empire.

Among the many properties they own is the Old War Office in Whitehall, which they hope to reopen as a luxurious lodge.

The 2 brothers topped the newspaper record in 2014 and in 2017.

The Sunday Instances Wealthy Record 2019 (Prime 10)

  1. Sri and Gopi Hinduja (Business and finance) | £22bn
  2. David and Simon Reuben (Property and web) | £18.7bn
  3. Sir Jim Ratcliffe (Chemical substances) | £18.2bn |
  4. Sir Len Blavatnik (Funding, music and media) | £14.4bn
  5. Sir James Dyson and household (Family items and expertise) | £12.6bn
  6. Kirsten and Jorn Rausing (Inheritance and funding) | £12.3bn
  7. Charlene de Carvalho-Heineken (Inheritance, brewing and banking) | £12bn
  8. Alisher Usmanov (Mining and funding) | £11.3bn
  9. Roman Abramovich (Oil and business) | £11.2bn
  10. Mikhail Fridman (Business) | £10.9bn

The record, which estimates the 1,000 richest individuals within the UK, relies on identifiable wealth together with land, property, different belongings similar to artwork, and shares in corporations, the Sunday Instances says. It doesn’t embrace the quantity contained in individuals’s financial institution accounts.

Brothers David and Simon Reuben – who made their fortune in property, carpets and scrap steel – are in second place on the record, with a mixed wealth of £18.664bn.

In the meantime, the richest particular person on last year’s list, Sir Jim Ratcliffe, who based the Ineos chemical substances agency, noticed his web price drop by £2.9bn since final yr, the paper says.

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Sir Jim Ratcliffe as soon as lived in a council home close to Manchester and now has an estimated web price of £18.15bn

Inventor Sir James Dyson – who campaigned for Brexit and has announced he could be relocating his firm headquarters to Singapore – is available in at fifth on the record, up from 12th final yr.

Zimbabwe-born Ms Moran is the primary black feminine entrepreneur on the Wealthy Record, rating joint 970th alongside her husband, Noel. The couple, whose mixed fortune is estimated at £122m, have a 81.5% stake in monetary expertise firm Pay as you go Monetary Companies.

Kirsten Rausing, a part of the Rausing household which was behind the Tetra Pak drinks carton empire, is the best ranked girl on the record. She seems alongside her brother Jorn Rausing in sixth place, with a mixed estimated wealth of £12.256bn.

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Kirsten Rausing and her brother Jorn’s wealth was reported to have elevated £1.408bn within the final yr

In the meantime, Sir Philip Inexperienced and his spouse Tina are positioned at 156th on the record, down from 66th final yr.

His fortune has been estimated at £950m – the primary time in 17 years that Sir Philip has not been listed as a billionaire.

Sir Philip’s firm, The Arcadia Group, has been dealing with a pensions deficit.

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Sir Philip Inexperienced’s Arcadia Group – which incorporates Topshop, Burton and Dorothy Perkins – was valued at nugatory on this yr’s record

Robert Watts, who compiled this yr’s record, mentioned: “On the face of it this seems to be like a bumper yr for the super-rich, with file wealth, extra billionaires and the entry stage rising to £120m.

“However lots of the wealthy are nursing massive losses after a yr of turbulence on the inventory market and political impasse in Westminster.

“Know-how is making and breaking fortunes. We’re discovering younger entrepreneurs making huge sums of cash from on-line vogue retail, relationship apps and creating YouTube movies.”

He added that on-line purchasing “continues to have a profound impact” on UK excessive streets, including that well-known retailers “are seeing their fortunes smashed by this seismic change”.

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Dame Theresa Sackler and household (£3bn) have been named because the second highest positioned newcomers to the Wealthy Record behind Russian-born oligarch Mikhail Fridman (£10.9bn)

For the sixth yr in a row, Scotland’s richest particular person was named as Glenn Gordon and his family, the Jersey-based tycoon behind distillers William Grant & Sons. The group produces whisky together with Grant’s, Glenfiddich and The Balvenie, in addition to Hendrick’s gin.

And Cardiff-born enterprise capitalist Sir Michael Moritz remains Wales’ richest person with a £3bn fortune.

The richest sports activities star aged 30 or underneath was named as Northern Irish golfer Rory McIlroy.

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Wealthy Record debutant Stormzy celebrated his first UK primary single, Vossi Bop, earlier this month

In the meantime, high of the Music Rich List in the UK – which incorporates writers and performers – is Andrew Lloyd Webber with a fortune of £820m.

Musician Ed Sheeran doubled his wealth final yr, whereas grime artist Stormzy made his debut on the wealthy record of younger musicians with £16m.

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