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Lakshmi Mittal:




UK NRI Mittal, now net worth $13.7 billion after the great financial meltdown

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 metal prices.

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.




UK NRI Mittal

UK NRI Mittal, steel tycoon