LN Mittal is the richest person in Britain

LN Mittal is the richest person in Britain

Indian born steel industry tycoon LN Mittal continues to head the charts to remain the richest individual in Britain. He has maintained his top spot with a wealth worth £19 billion.

This was confirmed by the latest list released by the Sunday Times. This list is due to be published latest this week. Philip Beresford, compiler of the list said in a statement on LN Mittal: “It is absolutely extraordinary. He is an expert at spotting an industry and getting in there early, buying it cheaply and selling at a high price. That is the secret of his success and the only way to make money.”

As per the list, Mittal is worth around £19 billion this year. This is quite an impressive growth from his fortunes of £14.9 billion last year. Beresford spoke about the foreigners who are living in Britain due to relaxed tax laws: “London is such an attractive place for the very rich, not just tax wise but because they have the city, the culture and safety and security.”

He added: “New York has shot itself in the foot with its onerous regulation. There is also general paranoia in the US after 9/11 that makes foreign billionaires feel uncomfortable, and London is winning as a result.”

Sports star David Beckham is also one of the major gainers in the list. His net worth increased by £25 million to £112 million this year. Virgin chief Richard Branson dropped out of the top 10 and is placed 11th in the latest list with his £3.1-billion assets.