(Reuters) – Russian businessman Alisher Usmanov has knocked Lakshmi Mittal off the top of this year’s Sunday Times Rich List with a jump in his fortune to 13.3 billion pounds ($20.3 billion) after a tough year for the Indian steel magnate.
In a list of wealth in Britain whose top spots are dominated by Russian and Indian billionaires, Mittal drops to fourth after eight years at number one as his fortune tumbled 2.7 billion pounds to 10 billion.
Uzbek-born Usmanov, who is Russia’s richest man and has a major shareholding in British Premier League football club Arsenal, saw his wealth rise by 985 million pounds over the past year, according to the annual survey by the British newspaper.
Ranked second last year, Usmanov owns Sutton Place, the former Surrey home of oil baron J Paul Getty. He made 1.6 billion pounds from sales of Facebook shares after last year’s stock market listing, while he has a large holding in Russian mobile phone operator MegaFon and controls iron ore miner Metalloinvest.
Mittal, the chief executive of the world’s largest steelmaker ArcelorMittal, has been hit by the fall in the value of its shares from more than 12 euros a year ago to less than 9 euros on Friday.
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