Russian billionaire tops U.K. rich list

AFP-JIJI

Russian billionaire Alisher Usmanov has topped an annual “rich list” compiled by Britain’s Sunday Times newspaper, with a fortune of £13.3 billion ($20.3 billion).

The 59-year-old tycoon, who started out manufacturing plastic bags, now owns Metalloinvest, Russia’s biggest iron ore producer, and has a nearly 30 percent stake in Arsenal Football Club.

Steel magnate Lakshmi Mittal, who spent eight years at the top of the list, was ousted into fourth place with a wealth of £10 billion — down from £12.7 billion in 2012.

In second place, and the highest riser, is Warner Music owner Len Blavatnik, whose wealth rocketed from £3.4 billion last year to £11 billion ($16.8 billion) this year.