LNM becomes Britain's Wealthiest Ever Person

Britain's 1000 richest people became richer by 50 billion Pounds as Indian born steel tycoon Lakshmi Narayan Mittal was on Sunday declared the wealthiest person of all times in Britain.

The combined wealth of top 1,000 rich people in the UK soared to 300.9 billion pounds from 249.615 billion pounds last year, The Sunday Times Rich List 2006 revealed.

In second place is Chelsea Football Club owner Roman Abramovich with £10.8 billion, whose interests in the oil industry saw his wealth surge sharply by more than £3 billion. The Duke of Westminster, for many years the richest man in Britain due to his many property holdings, has seen a £1 billion rise in his fortune to £6.6 billion..

Mr Mittal is top of a record number of 54 billionaires born, living or making their money in Britain or British territories. The British based businessman has amassed a £14.8 billion fortune thanks to his global steel firm. These super-rich include 20 who have come to live in Britain from overseas, highlighting how the UK is an attractive place for the very wealthy.

Mittal's wealth is based on his Mittal Steel company, the world's largest steelmaker which three months ago launched an audacious takeover bid for Arcelor, its nearest rival. London-based Mittal, 55, has also been buying into steelmills in China and the Ukraine. Mittal Steel is quoted on the American and Dutch stock markets and is 88% controlled by the Mittal family and trusts. That family stake was recently valued at GBP12.6 billion. Other assets and interests carry him to our 2006 valuation of GBP14.881 billion.

The Hinduja brothers -- Sri Chand and Gopi Chand, Chairman and President respectively of the Hinduja Group -- emerged as the seventh richest in Britain with a wealth of 3.6 billion pounds. Lord Paul, NRI industrialist, is listed 145 with a fortune worth 465 million pounds. The Queen, who turned 80 yesterday, has another reason to celebrate after the list revealed her fortune grew by an estimated £30 million last year.The monarch is now worth £300 million, making her the 192nd richest person in the UK.

Mittal is now the third richest person in Europe next only to Karl and Theo Albrecht (Germany, supermarkets, 18.4 billion pounds) and Ingvar Kamprad (Sweden - retail 16 billion pounds). The Sunday Times also published a list of 50 richest in the world including three Indians - Lakshmi Mittal (7th), Mukesh and Anil Ambani (30th, Petrochemicals 8.2 billion pounds) and Azim Premji (32nd Software, 7.6 billion pounds). Robson Walton (USA, Retail) is the richest person in the world with a wealth worth 45.1 billion pounds while Bill Gates (Software - Microsoft) is second with a fortune of 28.6 billion pounds).