For the 8th year in a row, Laxmi Mittal is UK's richest man

Steel tycoon Lakshmi Mittal retained his crown as Britain's richest man for the consecutive eighth year

Steel tycoon Lakshmi Mittal retained his crown as Britain’s richest man for the consecutive eighth year.

Despite losing almost a quarter of his wealth over the past year following a fall in the share value of his Arcelor Mittal, the world’s largest steelmaker, Mittal retained the top spot with an asset worth £12.7 billion, according to the annual Sunday Times Rich List.

Uzbek-born iron ore magnate Alisher Usmanov was placed on the second spot with an asset worth £12.3 billion.

Russian investor Roman Abramovich, who owns London football club Chelsea, held onto third place with a personal value of £9.5 billion.

Indian-origin industrialists Hinduja brothers — Srichand and Gopichand — were also named as the fourth richest people in England with a net worth of £8.6 billion.

Interestingly, majority of people in the top list are of foreign origin. The richest British-born billionaire was the Duke of Wellington, who slid from fourth to seventh place even though his largely property-based fortune rose five percent to £7.35 billion.u00a0

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