Britain's Asian
entrepreneurs have defied the recession with some becoming billionaires from
millionaires, according to a latest report on some of the country's richest
businessmen. The 'Eastern Eye Asian Rich List 2013' found that the number of
billionaires in the annual list more than doubled to seven, up from three in
2012. The net worth of the country's top 101 wealthiest Asians also registered
growth from 41.2 billion pounds to 45.6 billion pounds, signifying a 10.7 per
cent increase. This year's top 101 wealth creators will be unveiled at an
annual Asian Business Awards ceremony here, later today. The list is reportedly
topped by the Hinduja brothers, at the helm of one the UK's largest industrial
groups. They are set to displace steel tycoon Lakshmi N Mittal, whose fortunes
took a tumble over the last year as a result of a global slowdown in the steel
industry. Most of the entries in the list are family-run enterprises, with the
younger generation of entrepreneurs seeking to build on the wealth and
reputation of their parents who came to Britain as migrants. "Britain is
richer for its diversity, and turning adversity into opportunity is something
that's in the blood for Asian businessmen," said Kalpesh Solanki, managing
editor of the Asian Media and Marketing Group, publishers of the Asian Rich
List. "Many came to this country from India and Africa with very little
money, and through sheer hard work and sacrifice, they have built their
companies from scratch into world-class enterprises. The Asian Rich List shows
that if you work hard and are open to new challenges and seize opportunities,
then success isn't far behind," he added.
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