||London Home to Most Billionaires in the World
||Sunday, May 11, 2014
Institution and HR Management
||May 12, 2014
LONDON—A new study of the super-rich finds that London has become the capital of the world’s wealthiest, with more billionaires than any other city.
The Sunday Times, which published the list, says London has 72 residents whose fortunes exceed ￡1 billion ($1.6 billion). That’s well ahead of Moscow, at 48, New York, at 43, San Francisco at 42, Los Angeles at 38 or Hong Kong at 34.
The newspaper reports that Britain also has more billionaires per head than any other country, with one billionaire for every 607,000 Britons versus one for every one million or so Americans.
The newspaper has long published an annual list of Britain’s richest people, but this was the first time it took the additional step of seeing how the country’s overall standing compared to that of other countries.
Indian-born brothers Srichand and Gopichand Hinduja top the British list, with an ￡11.9-billion fortune. The two run the Hinduja Group, a global conglomerate.
The brothers replace last year’s richest man, Alisher Usmanov, who has seen his fortune drop by ￡2.6 billion to ￡10.6 billion — largely because of the decline of the ruble.
Canadian Galen Weston and his family were eleventh on the list, their fortune up ￡650 million to ￡7.3 billion.
Other notables on the list are steel magnate Lakshmi Mittal, in third place, and Chelsea football club owner Roman Abramovich, who dropped from fifth to ninth.
Top 25 on the Sunday Times list
1. Sri and Gopi Hinduja, ￡11.9bn, up ￡1.3bn
2. Alisher Usmanov, ￡10.65bn, down ￡2.65bn
3. Lakshmi Mittal and family, ￡10.25bn, up ￡250m
4. Len Blavatnik, ￡10bn, down ￡1bn
5. Ernesto and Kirsty Bertarelli, ￡9.75bn, up ￡2.35bn
6. John Fredriksen and family, ￡9.25bn, up ￡450m
7. David and Simon Reuben, ￡9bn, up ￡719m
8. Kirsten and Jorn Rausing, ￡8.8bn, up ￡3.69bn
9. Roman Abramovich, ￡8.52bn, down ￡780m
10. The Duke of Westminster, ￡8.5bn, up ￡700m
11. Galen, Hilary and George Weston and family, ￡7.3bn, up ￡650m
12. Charlene de Carvalho-Heineken and Michel de Carvalho, ￡6.36bn, down ￡635m
13. Mohamed Bin Issa Al Jaber and family, ￡6.16bn, up ￡1.65bn
14. Carrie and Francois Perrodo and family, ￡6.14bn, new
15. German Khan, ￡6.08bn, new
16. Sir David and Sir Frederick Barclay, ￡6bn, up ￡3.65bn
17. Hans Rausing and family ￡5.9bn, up ￡1.18bn
18. Nicky Oppenheimer and family, ￡4.57bn, up ￡785m
19. Earl Cadogan and family, ￡4.2bn, up ￡525m
20. Joseph Lau and family, ￡4.03bn, down ￡570m
21. Sir Philip and Lady Green ￡3.88bn, no change
22. Denis O'Brien, ￡3.85bn, up ￡486m
23. Mike Ashley, ￡3.75bn, up ￡1.45bn
24. Sir Richard Branson and family, ￡3.6bn, up ￡86m
25. Idan Ofer, ￡3.43bn, new