Indian-born industrialist Lakshmi Mittal, named the UK’s richest person eight years running since 2005, has been toppled by Uzbek-born Russian metals magnate and Arsenal shareholder Alisher Usmanov for top slot on the Sunday Times’ annual Rich List. He is now in the fourth position.
Mr Usmanov, 59, saw an eight per cent increase in his wealth, which grew from £12.315 billion last year to £13.3 billion. Ukrainian Len Blavatnik, the owner of Warner Music, saw his fortune rise 45 per cent to £11 billion, to grab the second spot.
But Mr Mittal, 62, saw his wealth fall by 21 per cent, down from £12.7 billion last year to £10 billion.
The Hinduja brothers — Srichand, 77, and Gopichand, 73 — jumped one rank, to third spot, becoming the richest Indian-origin family, with wealth of £10.6 billion, a 23 per cent increase over last year’s £8.6 billion.