Srichand and Gopichand Hinduja, who run the Hinduja Group of companies in the UK, who registered a 1.35 billion pounds jump in their fortunes over the previous year have for the third time topped the Sunday Times Rich List’ after topping it back in 2014 and 2017.
The Indian-origin brothers dominate the annual rich list of Britain’s wealthiest, with the Hinduja brothers ranked at No. 1 with a fortune of 22 billion pounds followed by Mumbai-born Reuben brothers in second place with 18.66 billion pounds.
“Whether or not Britain leaves the EU, Gopi Hinduja is convinced it can forge a closer relationship with his family’s homeland,” notes the newspaper’s profile on the 79-year-old Co-Chair of the Hinduja Group, G P Hinduja.
The London-based industrialist, along with UK-based brother Sri, 83, and their brothers Prakash, 73, and Ashok, 68, who live in Geneva and Mumbai respectively, control more than 50 companies with a total turnover of nearly 40 billion pounds worldwide in 2018, notes the Rich List.
The family occupies four interconnected London homes in Carlton House Terrace, bought from Queen Elizabeth II in 2006. Their business empire was founded by father Parmanand in Mumbai in 1914.
The Hindujas, described as devout Hindus eschewing meat and alcohol, have stakes in oil and gas, IT, energy, media, banking, property and healthcare. Some of the biggest hike in profits last year came from London-registered Hinduja Automotive, which includes North Yorkshire bus maker Optare and saw profits rise by 50 per cent to 337 million pounds on 3.5 billion pounds sales in 2017-18.
They had acquired former British Prime Minister Winston Churchill’s old War Office in London’s Whitehall for 350 million pounds back in 2014 and plan to open it as a luxury hotel with the Raffles group by 2020.