Russian and Indian businessmen dominate Britain's rich list

Russian billionaire Alisher Usmanov has topped an annual British rich list compiled by The Sunday Times with his fortune of £13.3 billion ($19.7 billion).

The 59-year-old tycoon, who started out manufacturing plastic bags, owns Russia's biggest iron ore producer Metalloinvest and owns almost 30 per cent of Arsenal football club.

He also has a holding in mail.ru, Russia's biggest internet company, and a big stake in the London- and Moscow-listed mobile telephone operator MegaFon.

Steel magnate Lakshmi Mittal, who spent eight years at the top of the list, was demoted to fourth place with his net wealth of £10 billion - down from £12.7 billion in 2012.

Mr Mittal, whose holding in steelmaking giant ArcelorMittal fell from £28 billion to £5.95 billion, fell the most in the ranking of Britain and Ireland's wealthiest people.

The combined fortunes of the 1000 richest men and women comes to almost £450 billion, with the fortunes of the top 200 amounting to £318.2 billion, the list shows.

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 this year.

The Russian media mogul, who is an American citizen, sold his stake in Russian oil and gas giant TNK-BP last month for £2 billion.

The 25th annual list includes 88 billionaires, an increase from 77 last year and up from just nine when it was first published in 1989. The Queen was ranked top in the list's first year when her wealth was valued at £5.2 billion and included all the crown estates and the royal art collection.

After 1993 she fell from that spot as she was valued only on her personal wealth. This year she was said to be worth £320 million, 268th on the list.

Third on the list this year are brothers Gopi and Srichand Hinduja of international conglomerate Hinduja Group, with a fortune of £10.6 billion.

Chelsea football club owner Roman Abramovich, who made his fortune in the oil industry, has dropped two places to fifth on the list, with a value of £9.3 billion.

New to the top 20 is Saudi businessman Mohamed Bin Issa Al Jaber at 15th place with £4.5 billion, higher than Virgin founder Richard Branson, who is ranked 19th with £3.5 billion.

Earlier in April former Beatle Paul McCartney topped The Sunday Times' rich list of musicians for a 25th year running with £680 million.