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.
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
|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