South African Businessmen Among The UK’s Top 25 Richest People

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

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


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