The rise in wealth of Asian entrepreneurs on the Sunday Times Rich List is one of the most exciting developments on the Rich List in recent years.
This year, there are 81 Asians – the most heavily represented ethnic minority – in the list of 1,000 richest in Britain published on 12 May.
Overall, the 20 richest Asians are worth over £94bn and have increased their collective wealth by a record £12.1bn in just one year. The 14.6% increase in net worth is one of the biggest increases in wealth across any Rich List category this year.
The rapid growth of wealth and huge presence of names on the list is a symbol of how far the Asian community has come in the world of business, and is an inspiration to the next generation of budding entrepreneurs.
London-based Sri, 83, and Gopi, 79 Hinduja reclaimed their title as the richest in the UK for the third time in the past six editions. An increase of £1.3bn in their wealth in the past year takes their wealth to a staggering £22bn. Mumbai-born David and Simon Reuben take second spot in both the UK and Asian Rich Lists. Anil Agarwal, who ranks fourth in the Asian Rich List with a fortune of £10.5bn, has been substantially revalued this year to include a near-20% stake in the £30bn Anglo American mining business, contributing substantially to the lift in his wealth of £8.72bn.
This exhilarating growth of the accumulated wealth among the top 20 demonstrates how successful the Asian community has become.
“The rise in the number of Asian entrepreneurs is one of the striking themes of the Sunday Times Rich List since our first edition in 1989,” said Robert Watts, Compiler of The Sunday Times Rich List.
“Back then only five entrants in our inaugural list were from ethnic backgrounds – this year 81 Asian individuals and families make our 1,000 entries.”
“We are finding Asian men and women have built successful businesses, from fast fashion and discount retail to pharmaceuticals and petrol stations.”
The top 20 richest Asians in the UK as listed in the Sunday Times Rich List 2019 are:
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