London, Oct. 27, 2008
Sant Parkash Singh
UK NRI steel tycoon Lakshmi Mittal was the richest man in Europe
and the 4th richest man in the world but now world's biggest loser
after his net worth 13.7 billion dollars as compared $45 billion
in January. He was Britain's wealthiest person for fourth year
in a row.
NRI Anil Aggarwal mining major Vedanta Resources has also seen
an erosion in fortunes due to the financial crisis.
Mukesh and Anil Ambani are esimated to have dropped by over 40
billion dollars each since January 10.
Ten richest Indians have collectively lost over 400 billion dollars
The Standard has put together a list of the top 10 victims of
the financial crisis, although none of them come close to Mittal.
In the number two and three spots respectively are mining tycoon
Vladimir Kim, of Kazakhmys, and Anil Agarwal, of Vedanta Resources.
Both firms are recent listings on the London Stock Exchange but
have seen their value tumble since the spring on the back of falling
According to Philip Beresford, the wealth expert who compiles
the annual 'rich list' for The Sunday Times, more than pound 100
billion would be wiped off the personal fortunes of Britain's
wealthiest industrialists and entrepreneurs in the coming months.