Hinduja Brothers Named Richest Asians in UK for 5th Consecutive Year

The Hindujas have been named as the richest British Asians for the fifth time in a row. The family has an estimated net worth of £22 billion, according to the annual Asian Rich List published by UK-based Asian Media Group (AMG).

They have been named the richest Asians in the United Kingdom since 2014. Indian steel tycoon Lakshmi N Mittal is the second richest, with a £14 billion fortune, an increase from last year’s £12.6 billion.

The Hinduja Group is headquartered in London and is headed by brothers Srichand P Hinduja, Gopichand P Hinduja, Prakash P Hinduja and Ashok P Hinduja. They added £3 billion to their total net worth from 2017.

“The Hindujas’ trading empire is spread over five continents and run by four brothers and their children, a testament to their incredibly strong family values. The group has what GP Hinduja likes to call 10 ‘verticals’, spanning a variety of sectors and allowing true diversification,” the Rich List said.

The third richest Asian on the list is India-born Sri Prakash Lohia, the founder and chairman of Indorama Corporation, with an estimated net worth of £5.1 billion.

“The list shows the remarkable strength and diversity of Asian businesses in the UK. Despite the challenges of the general economy, many business leaders in the community have seen opportunity and potential and moved quickly to capitalise. It is an inspiring picture and one that should energise entrepreneurs everywhere,” Shailesh Solanki, AMG executive, said, according to the PTI.

The top 10 richest UK Asians have a combined net worth of £54.25 billion.

Pakistan-born founder of Bestway conglomerate Anwar Pervez, with £2.35 billion, is the fourth richest Asian, followed by two other Indian-origin billionaires at joint fifth — Simon, Bobby & Robin Arora, and metals tycoon Anil Agarwal, with a net worth of £2.3 billion each.

With the entry of Rajesh Ram Satiija of Sun & Sand Group, Zuber and Mohsin Issa of Euro Garages, and Tony, Raj & Harpal Matharu of Global Grange Ltd, the total number of South Asian-origin billionaires in the country is 12.

“Satiija worked for an export business before starting out on his own, setting up an auto-parts business in Nigeria. He has a home in Mayfair and is now looking at a public flotation for his fast expanding group, where revenues have tripled over the last few years,” said  the Rich List.

The award has been honoring British Asians for 21 years now.