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The UK’s Sunday Times has has released its yearly Rich List, calling 3 South African entrepreneurs amongst the leading 25 wealthiest individuals in the United Kingdom.
According to the paper, the British super-rich have suffered their biggest crash in fortunes since the global economic crisis of 2008/09, with former list-topper, Lakshmi Mittal losing three-quarters of his wealth.
Mittal rose to the top of the rank in 2008 with £27.7 billion (R578 billion) – the biggest fortune achieved by anyone on the Rich List before or since, the paper said.
However, a global crisis in the steel industry in 2015/16 has sent Mittal’s finances plummeting and now he’s ‘only’ worth £7.12 billion (R149 billion) – ranked 11th in 2016 -suffering a £2.08 billion (R43 billion) loss last year alone.
In 2016, Mumbai-born brothers David and Simon Reuben topped the list, climbing from 5th place in 2015 with £9.7 billion to £13.1 billion (R273 billion), thanks to strong returns on their property investments.
Overall, the 1,000 wealthiest people in Britain are worth a combined £576 billion (R12 trillion) – an increase of £28.5 billion (R595 billion) on last year.
Nicky Oppenheimer
South Africans on the list
Three South Africans are named on the 2016 ranking – one more than in 2015.
Diamond magnate, Nicky Oppenheimer leads the other South Africans on the list, ranked at 18th, worth £4.83 billion (R100.9 billion).
Oppenheimer amassed the bulk of his fortune when he sold his 40% stake in the De Beers diamond operation for £3.2 billion in 2011. He now owns an estate and organic farm near Maidenhead but still retains “extensive investments” in South Africa and in mining group Anglo American
Former top SA-linked billionaire on the rank – SA-born Swazi businessman Nathan Kirsh was ranked 21st with a net worth of £4.37 billion (R91.3 billion).
Debuting on the list, retail mogul Christo Wiese was ranked at 22nd, worth £4.33 billion (R90.4 billion).
| # | Name | 2015 wealth (GBP) | 2016 wealth (GBP) | Change (%) |
|---|---|---|---|---|
| 18 | Nicky Oppenheimer | £4.55 billion | £4.83 billion | +6.2% |
| 21 | Nathan Kirsh | £5.06 billion | £4.37 billion | -13.6% |
| 22 | Christo Wiese | – | £4.33 billion | – |
Top 25 richest people
| # | Name | Wealth (GBP) |
|---|---|---|
| 1 | David and Simon Reuben | £13.1 billion |
| 2 | Sri and Gopi Hinduja | £13.0 billion |
| 3 | Len Blavatnik | £11.59 billion |
| 4 | Galen and George Weston | £11.0 billion |
| 5 | Ernesto and Kirsty Bertarelli | £9.78 billion |
| 6 | The Duke of Westminster | £9.35 billion |
| 7 | Charlene de Carvalho-Heineken and Michel de Carvalho | £9.15 billion |
| 8 | Kirsten and Jorn Rausing | £8.7 billion |
| 9 | Hans Rausing | £8.6 billion |
| 10 | Alisher Usmanov | £7.58 billion |
| 11 | Lakshmi Mittal | £7.12 billion |
| 12 | Sir David and Sir Frederick Barclay | £7.0 billion |
| 13 | Roman Abramovich | £6.4 billion |
| 14 | John Fredriksen | £6.3 billion |
| 15 | Mohamed Bin Issa Al Jaber | £5.84 billion |
| 16 | Earl Cadogan | £5.7 billion |
| 17 | Sir James Dyson | £5.0 billion |
| 18 | Nicky Oppenheimer | £4.83 billion |
| 19 | Sir Richard Branson | £4.52 billion |
| 20 | John Grayken | £4.42 billion |
| 21 | Nathan Kirsh | £4.37 billion |
| 22 | Christo Wiese | £4.33 billion |
| 23 | Bruno Schroder | £4.06 billion |
| 24 | Denise, John, and Peter Coates | £3.77 billion |
| 25 | Baroness Howard de Walden | £3.63 billion |
Exchange rate: 1 GBP = 20.88 ZAR
Source: Business Tech
