Alisher Usmanov Becomes Britain’s Seventh Richest Man

Russia’s businessman Alisher Usmanov has gained one notch to take the seventh spot in Britain’s Rich List 2020 top ten rating released by the Sunday Times newspaper on Saturday, TASS informs.

The wealth of the head of the USM holding (parent structure of Metalloinvest, Megafon, Group) is estimated at 11.68 bln pounds ($14.14 bln at the current exchange rate), an increase of 341 mln pounds ($412 mln) compared with the 2019 rating. Earlier Usmanov took the eighth spot of the rating twice – with the fortune worth 11.339 bln pounds in 2019 and 10.556 bln pounds in 2018.

This year the businessman has become the only Russian representative among the Britain’s ten richest billionaires. Last year in top ten super-rich were also Roman Abramovich who was the ninth in the list, and the founder of Alfa Group Mikhail Fridman who took the tenth spot. In this year’s rating, Fridman holding a fortune worth 10.23 bln pounds ($12.4 bln) comes in 11th, while Abramovich with 10.16 bln pounds ($12.3 bln) worth of fortune has slipped to the 12th spot.

James Dyson, head of a household appliances manufacturer, tops this year’s Rich List with a fortune worth 16.2 bln pounds ($19.6 bln). His fortune gained 3.6 bln pounds ($4.4 bln) in one year despite the closure due to unprofitability of a 500 mln pounds ($605 mln) project on electric cars production.

The second line of the rating is shared by Indian entrepreneurs Sri and Gopi Hinduja and businessmen David and Simon Reuben holding a fortune worth 16 bln pounds ($19.37 bln) each. Hinduja are involved in real estate deals, banking and restaurant business, and commodities trade. The fortune of businessmen who topped last year’s Sunday Times rating, dropped by 6 bln pounds ($7.3 bln) in one year. The Reuben brothers focus on real estate deals, private investment and participation in venture capital. They lost 2.7 bln pounds ($3.2 bln) in a year.

More than half of the country’s billionaires are nursing losses worth 6 bln pounds, with the combined wealth of the 1,000 wealthiest individuals and families plunging for the first time since 2009, in the wake of the coronavirus pandemic-related financial crisis, according to the publication.

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