UK's richest resident
28/04/2008
Indian steel baron Lakshmi Mittal has been ranked as Britain's richest resident, for the fourth year in a row by a leading media house.
According to The Sunday Times rich List 2008, to be published on Sunday, the London-based 57-year-old Mittal and his family's total fortune is worth an estimated 27,700 million pounds.
The steel baron consolidated his position at the top by acquiring world's leading steel company Arcelor last year.
The combined business, Arcelor-Mittal, produces 115 million tons of steel a year and accounts for ten per cent of market. Mittal is followed in the list by Russian oligarch Roman Abramovich, with a 11,700-million-pound fortune, and the Duke of Westminster -- the richest property developer in Britain, worth 7,000 million pounds.
