Lakshmi Mittal stays on top of UK rich list for the 7th year

London: Indian-origin steel magnate Lakshmi Mittal, with an estimated wealth of 17.51 billion pounds, has retained his position as the richest person in the UK for the 7th year in a row in 2011, though his wealth declined by 4.93 billion pounds during the last one year.
The Sunday Times Rich List 2011 shows that Mittal continues to top Britain’s wealthiest with a personal fortune of 17.5 billion pounds.
According to the list, Mittal’s fortune has declined from 22.45 billion pounds in 2010 to 17.51 billion pounds in 2011 mainly because of plunging share prices in the past year, reducing the value of his stake in ArcelorMittal from 18.45 billion to 13.65 billion pounds.
The 60-year-old chairman and chief executive of the world’s largest steel producer, has urged governments to support greater growth after the global financial crisis hit demand, the report said. (PTI)