More billionaires in United Kingdom than ever, 14 more than previous year

Sri and Gopi Hinduja

REX TOP EARNERS Sri and Gopi Hinduja are the richest people in the country

The wealthiest people in the United Kingdom are elderly brothers Sri and Gopi Hinduja, whose latest project is to convert the Old War Office in London into a luxury five-star hotel and 88 luxury apartments for the super-rich.

It also showed that 19 of the country's mega rich have seen their wealth grow in the past year by a billion pounds or more.

Robert Watts, who compiled the list, said the results showed that "while many of us anxious about the outcome of the European Union referendum, many of Britain's richest people just kept calm and carried on making billions".

There were now more UK-based billionaires than before, at 134.

The only British-born billionaire in the top 10 is Hugh Grosvenor, 26. who became the world's richest under-30 when he inherited his father's estate past year. Ukrainian businessman Len Blavatnik is in second place (the Hinduja brothers's position till 2016).

'A buoyant stock market usually drives the wealth of rich-listers higher, and since last June equities have soared'.

New billionaires Gujarati migrant brothers Mohsin and Zuber Issa are also among the top 40 Indian-origin super-rich.

They are ranked 133rd on the list with a fortune of 1 billion pounds.

Terry Smith has surged up the Rich List in a post-Brexit boom for the UK's super wealthy.

In addition, the number of billionaires in the country, in which London boasts more than any other city in the world, rose to 134 from 120 previous year.

The only top 20 entrants to have suffered a loss this year are Guy, George and Galen Junior Weston and family who sit in seventh position.

The other Indian-origin billionaires on the list include Sri Prakash Lohia at 27 with 3.97 billion pounds; metals tycoon Anil Agarwal at 60 with 2 billion pounds; Sunil Vaswani and family's auto dealerships business at 63 worth around 1.97 billion pounds; Manchester-based Simon, Bobby and Robin Arora at 65 with 1.92 billion pounds; Navin and Varsha Engineer's pharmaceuticals business at 107 and valued at 1.2 billion pounds; and hotelier Jasminder Singh and family is ranked 128 with 1.03 billion pounds. The brothers made their money in London property and internet. The entry level into the list's top 1,000 has risen to £110 million, double the threshold of 2009.

"Yet we're seeing more diversity in the Rich List".

The figure in 2016 was £103 million.

The list does not count the totality of the income and assets from the Crown Estate - the collection of lands and holdings belonging to the monarch but controlled by an independent board - whose property portfolio alone is now worth £12 billion.

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