Israelis among UK richest

The "Sunday Times" Rich List includes both British citizens and people with strong ties to the country or assets in it.

The "Sunday Times" Rich List for 2008 shows that only six of the 20 wealthiest Britons were actually born in the country. Indian steel magnate Lakshmi Mittal tops the list, with a fortune of ₤27.7 billion, followed by Roman Abramovich, the Russian owner of Chelsea Football Club, with a fortune of ₤11.7 billion, up from ₤10.8 billion a year ago. Both men kept their rankings from last year. Mittal is also the world's sixth richest man as growing demand for steel boosted his fortune by ₤8.4 billion last year.

The Duke of Westminster is in third place, with a fortune of ₤7 billion. Industrialists Sri and Gopi Hinduja are in fourth place and Russian steelmaker, unranked last year, Alisher Usmanov reached fifth place.

Five billionaires with Israeli affiliations made the Rich List this year. Shipping magnates Sammy Ofer and his son Eyal are ranked 15th, with a fortune of ₤3.34 billion; Africa-Israel chairman Lev Leviev, described as a property magnate, is in 21st place, with ₤2.5 billion; property magnate Poju Zabludowicz is in 31st place, with ₤2 billion; and diamond merchant Benny Steinmetz is in 39th place with a fortune of ₤1.8 billion. Only Poju Zabludowicz was included in last year's Rich List, in 24th place; his fortunes appear to have declined, at least relatively speaking.

Eyal Ofer resides in London and Leviev moved there earlier this year. Steinmetz, who resides in Israel, makes the list because he has a residence in the UK.

Rich List compiler Philip Beresford explained that in the era of globalization, in which London is a key financial player, the list includes both British citizens and people with strong ties to the country or assets in it.

Party Gaming controlling shareholders Ruth Parasol, who has Israeli citizenship and the daughter of Holocaust survivors, and her partner Russell De Leon, are jointly ranked 97th on the Rich List, with a fortune of ₤763 million.

Published by Globes [online], Israel business news - www.globes-online.com - on May 1, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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