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One in five of UK's Under-40 richest club has Indian origin

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Agencies

Posted: May 04, 2008 at 1402 hrs IST

London, May 4: It is not the UK's billionaire club alone, which is led by NRI families like Mittals and Hindujas, even the younger rich brigade, all below 40 years of age, in Britain has a plenty of Indian origin people.

In the Daily Telegraph's annual list of Britain's 40 richest young entrepreneurs -- 'Made It By 40' -- at least eight have their origin in India with a combined wealth of about one billion dollars.

While two of those with Indian origin have made their debut this year, three others have seen their net worth increasing in the past one year.

Richest among those with Indian origin, Baljinder Kaur Boparan has been ranked 9th in the overall list with a worth of 130 million pounds, up from 115 million pounds a year ago.

Boparan and her husband Ranjit wholly own a chicken - processing company, Boparan Holdings, whose brands include Buxted chicken. Its turnover in 2006 rose to 377 million pounds and pre-tax profits were 22.3 million pounds.

Besides, Arif and Munaf Patels, the brothers who own Faisaltex group of companies that supplies socks, underwear and other children's clothing to discount stores throughout the UK, have debuted at 15th position with 90 million pounds.

The list comprises of UK entrepreneurs or foreign-born citizens having spent most of their lives working in Britain and whose main income source and place of business is here.

Besides, to make it to the list, one must be 40 years or less.

The person who topped the last year's list, Sir Stelios Haji-Ioannou -- is not present in the latest rankings as he ‘is now too old to feature on the 2008 list’ after turning 41.

Even 2008's winner, Moneysupermarket Group's Simon Nixxon with a net worth of 363 million pounds, may not find a place next year as he is already 40.

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