The top five richest Londoners 2012

The double dip is obviously biting - London’s very richest have lost money this year. Of course they are still billionaires - there will be no selling the family pony just yet

What better way to spend a miserable rainy Sunday than leafing through the latest copy of the great British jealousy maker, The Sunday Times Rich List.

But just in case you didn’t make it to the shops, heavy duty umbrella in tow, we thought we’d bring you the list of London’s richest. The people on this list all have London homes and vested interests in the London economy - and it just so happens the top five richest Londoners are also the top five richest people in the UK.

All financial data is sourced from The Sunday Times Rich List.

#1: Lakshmi Mittal

UK rank: 1

Wealth: £12.7bn

Sector: steel

There has been no change at the top spot from 2011 with Lakshmi Mittal topping out as London’s richest person. Despite seeing his fortune shrink by a whopping £4.8bn, the steel “Bollygarch” retains his number one spot.

Most of Mittal’s fortunes stem from his stake in ArcelorMittal, one of the world’s largest steel making companies which is worth an estimated £7.98bn.

Not to be outdone by the other football loving billionaires on the list, Mittal owns one-third of Queen’s Park Rangers football club – his attempts to gain full control of the club were thwarted by Bernie Ecclestone and Flavio Briatore who sold their 66 per cent stake to someone else. Mittal may well be counting his blessings given the season QPR just put in.

Mittal and family are also famed for putting on the world’s second most expensive wedding for their daughter Vanisha back in 2004.

And of course for ploughing £16m into the large red construction otherwise known as the ArcelorMittal Orbit, which currently adds an interesting dimension to the skyline at Olympic Park. Thanks for that Lakshmi.

#2: Alisher Usmanov

UK rank: 2

Wealth: £12.3bn

Sector: Mining

Football is also the name of the game for this Russian billionaire - Usmanov owns almost 30 per cent of Arsenal football club and once famously commented: “My love for Arsenal is like that of a man for a woman. It is not something you can sell.”

The Russian accrued his wealth from mining, lumbering and investment and he owns a £48m mansion in North London. His control of Metalloinvest metals and mining company has helped to make the Muscovite the richest man in Russia.

Usmanov is no doubt watching the Facebook floatation unfold with a very keen eye; according to Bloomberg his stake in the social network is worth more than $4bn. “We saw potential in internet companies a few years ago and it was then that we began to invest in such private companies as Facebook, Groupon, Zynga and others,” Usmanov told Bloomberg Markets magazine in January.

#3: Roman Abromavich

UK rank: 3

Wealth: £9.5bn

Sector: Oil

Once the richest man in Russia, now loitering around 9th in that country, Abromavich has stakes in Evraz and mining firm Highland Gold. Most notably for us Brits, the Russian is also the owner of Chelsea football club.

It’s not been an easy year for Abromavich both on and off the sidelines, thanks to a poorly performing Chelsea manager, and very public tussle with old friend Boris Berezovsky, which has seen Abromavich’s otherwise private business life played out in the High Court.

#4: Sri and Gopi Hinduja

UK rank: 4

Wealth: £8.6bn

Sector: Industry and finance

The brothers preside over a worldwide business started by their father which incorporates car manufacturing, banking, defence technology and energy. 

This “spread betting” hasn’t done them any harm. The Hinduja brothers are the first on our top five list not to have lost any wealth since last year. The pair have grown their fortunes a tidy 43 per cent this year, up by £2.6bn.

The pair live a rather ostentatious existence a stone’s throw from Buckingham Palace in their own palatial residence at Carlton House Terrace. The property, bought for £66.5m in 2006, consists of four adjoining houses which house their extended family.

#5 Leonard Blavatnik

UK rank: 5

Wealth: £7.6bn

Sector: Industry

A real rags to riches story, Moscow-born Blavatnik emigrated to America in 1978 with nothing, but managed to get a master’s degree at Columbia University and an MBA at Harvard. He went on to found Access Industries, a private-equity investment firm in Manhattan in 1986.

He benefited from the floatation of British based media group Perform last year to the tune of £282m. The Russian has a strong interest in education, donating £75m to Oxford University to help establish a school of government at the institution.

The billionaire lives in a £41m mansion in Kensington Palace Gardens.


Readers' comments (1)

  • Michelle Gray

    Hey! Its hard times for everyone - so grin & bear it for now! Hopefully things will get back on track in the next five years.
    In the meantime hope that they are spreading this good earned fortune to benefit the masses that have so very little and desperately need some help!

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