Richest Asians in UK are boosted by commodities surge

Britain’s richest Asians have seen their wealth climb by 16% in the past year, as roaring global commodities and stock markets helped to swell their fortunes, a new study has shown.

The annual Asian Rich List reveals that the 101 richest British Asians are collectively worth £80.3 billion, up £11 billion from last year.

The commodities rebound and market surge benefited those in the steel, mining and car industry.

The Hinduja brothers, whose family wealth is revealed at £22 billion, top the list for the fifth year in a row.

Gopichand and Srichand Hinduja’s wealth has increased by £3 billion in 2017, compared with Lakshmi Mittal, second on the list, whose wealth rose from £1.4 billion to £14 billion.

The Hinduja brothers, who are passing control of the family business to the third generation, are in a range of industries from IT to breweries and employ 75,000 in 35 countries.

They are turning the Old War Office in Whitehall into a five-star hotel.

The top 10 richest Asians are based in London, except for the Lancashire-based Zuber and Mohsin Issa, founders of Euro Garages.

The youngest entry on the list is the 36-year-old founder of £100 million online fashion site Missguided, Nitin Passi.