Russian tycoon and the owner of Russia's biggest iron ore producer Metalloinvest, Alisher Usmanov is no longer the richest man in the UK, the new Sunday Times’ ranking revealed.
Russia’s richest man came in second, behind the Indian-born brothers Srichand and Gopichand Hinduja, who topped the list with £11.9 billion ($20 billion). The two own a global conglomerate - Hinduja Group. The company is involved in a wide range of businesses including production of cars, military equipment, explosives, as well as finance.
Usmanov, the 60-year-old mogul, is listed as having up to £10.65 billion ($18 billion). His income primarily comes from his main assets: Metalloinvest holding, Russian mobile network MegaFon, the Mail.ru Group and shares of Facebook.
Third place went to Indian Queens Park Rangers stakeholder and steel magnate Lakshmi Mittal and his family with £10.25 billion ($17.3 billion).
There was only one British billionaire featured in the top ten spots - the Duke of Westminster - who is listed as having up to £8.5 billion ($14.3 billion).
The top ten also includes Russian, Chelsea football club owner Roman Abramovich, who dropped to the ninth place with £8.52 billion ($14.4 billion).
According to the new list there are now 104 billionaires living in the UK, whose combined wealth equals more than £301 billion ($507.7 billion). The new data put London ahead of any other city, beating Moscow and New York.