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Rich list 2008: Sunday Times reveals the richest British residents

Britain's super-rich list 2008

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According to the Sunday Times' 2008 Rich List, Britain's billionaires have never had it so good having added £58billion to their wealth over the last year, reaching a combined worth of £413billion (richest: Lakshmi Mittal, pictured above left).

This exponential increase is a trend which has been developing for some time. Figures show that over the last ten years the fortunes of the richest have grown by an average of 317%. There can't be many in society who can say the same.

The wealth gap between the haves and have nots has been growing dispproportionately since the late 1970s, and many fear the trend will lead to greater social unrest, tensions and crime.

Not that this will worry those on this year's list. In fact, many of them would argue that their overall contribution via the taxation system and charitable foundations and donations means that the wealthier they become, the greater the benefit to the UK.

The UK is now home to 75 billionaires, up from 68 a year ago. 40 of these moved here from abroad.

Here are Britain's ten richest residents (source - Sunday Times):

10. David and Simon Reuben (Ages 69 and 66 respectively)

Total wealth: £4.3billion
Source: Property
2007 position: 9

The Reuben brothers were born in Mumbai, India, but moved to the UK in their teens. Of Baghdad Jewish ancestry, they made money in the 1970s and 1980s from metal trading and property.

Now their main focus is property and they've been heavily involved in the regeneration of the Paddington basin area in London.

9. Sir Philip and Lady Green (Age 56 and 58)

Total wealth: £4.33billion
Source: Retail
2007 position: 7

Retail king Green, owner of the Top Shop chain, BhS and Arcadia Group, has 2,300 shops and has recently been trying to get his hands on Marks & Spencer.

Born in Croydon, he made his first fortune (£6m) in the 1980s, buying for a song, and then turning round and selling, high street fashion retailer Jean Jeannie.

8. John Fredriksen (Age 63)

Total wealth: £4.65billion
Source: Shipping
2007 position: 8

Born in Oslo, Fredriksen, a welder's son, started work as a trainee in a shipbrokering company. He decided to go it alone at 27 and now owns the world's largest tanker fleet.

He first made a fortune during the Iran-Iraq wars in the 1980s when his tankers would pick up oil at tremendous risk, but vast profit.

He now lives in Chelsea and is divorced with two daughters.

7. Hans Rausing (Age 82)

Total wealth: £5.4billion
Source: Food packaging
2007 position: 6

Swedish born Rausing inherited his father's business Tetra Park (now Tetra Laval), the world's largest packaging production company.

He sold his half in 1996 and has subsequently made many investments in Russia and Ukraine (on which he is an expert).

He now lives Wadhurst, East Sussex on a 900 acre estate where he breeds deer and keeps his collection of vintage cars.

6. Ernesto (age 42) and Kirsty Bertarelli

Total wealth: £5.65billion
Source: Biotechnology
2007 position: New entry

Ernesto Bertarelli is a Swiss billionaire who became enormously wealthy on the inheritance of his father's biotechnology business, Serono, then the biggest in Europe.

He sold the business in 2006 and has spent a great deal of time since following his passion, sailing, and has won the America's Cup twice with a Swiss team.

He's married to one-time Miss UK, Kirsty, with whom he has three children.

5. Alisher Usmanov (Age 54)

Total wealth: £5.726billion
Source: Steel and mining
2007 position: New entry

Usmanov owns Metalloinvest, Russia's fifth largest steelmaker, which he plans to float on the stockexchange in the next few years and will boost his fortune even more.

Born in Tashkent, Usmanov is a Russian citizen, a resident of London and is the largest shareholder in Arsenal FC.

Usmanov came in at 12 in Russia's own rich list which is produced by Finans magazine.

4. Srichand and Gopichand Hinduja (Ages 72 and 68)

Total wealth: £6.2billion
Source: Industry and finance
2007 position: 4

The two brothers, born in India, moved to London in 1979 to help develop their father's export business.

They now have a myriad of business interests including in the finance, telecomms, oil and film worlds.

3. Gerald Grosvenor, 6th Duke of Westminster (Age 56)

Total wealth: £7billion
Source: Property
2007 position: 3

Born in Omagh, Northern Ireland, into a hugely wealthy aristocratic and is the richest British-born aristocrat. He owns around 300 acres of the most expensive real estate in the world in Belgravia and Mayfair, as well as estates in Lancashire, Cheshire and Scotland.

He has three daughers and a son (who as his sole male offspring is his heir apparent).

2. Roman Abramovich (Age 41)

Total wealth: £11.7billion
Source: Property & oil
2007 position: 2

Now famous Russian billionaire, he bought Chelsea Football Club in 2003.

In the early 1990s, Abramovich started a number of small companies which specialised in the trading of oil. In 1995, with partner Boris Bereznovsky, Abramovich bought a controlling interest in Russian oil company Sibneft which went from strength to strength.

Throughout the 1990s, their holding company Millhouse Capital bought large shares in companies such as once nationally owned air company Aeroflot and aluminium company Rusal which it later sold, reinvesting a large amount in Evraz, Russia's largest steelmaker.

Abramovich is said to feel very much at home in London and looks set to remain here for the forseeable future.

1. Lakshmi Mittal (Age 57)

Total wealth: £22.7billion
Source: Industry and finance
2007 position: 1

At number one, Indian born Mittal is way out in the lead by an astonishing £11billion.

He grew up with his extended family on bare floors and slept on beds made of rope. His father earned enough to eventually move to Calcutta where he became a partner in a steel company and went on to make a fortune.

Lakshmi began his career working for his father's business and eventually set up an international division by buying a run-down plant in Indonesia.

From there, the company expanded worldwide.

In 2004, he splashed out the most ever paid for a home in the UK, acquiring a house in Kensington Palace Gardens, London, from Formula One tycoon Bernie Ecclestone for £57million.

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