The London-based Hinduja brothers have appear top this year with net wealth assessed at 12.5 billion pounds up 3 billion pounds on the 2012 figure.
According to the list, “While other organisations have been cutting costs at a time of recession, the Hindujas splashed out $1.1 billion (725 million pounds) on buying Houghton, the US lubricant and specialised chemicals group that has been a market leader in its field.”
“It has 12 manufacturing facilities in 10 countries from the United States to China and South Korea and sales in 80 countries. Its European headquarters is in Manchester. It reported an operating profit of $132 million in the year to September 30,2012, on sales of $ 858 million.”
“The Hindujas have always made a big effort with their philanthropic work and in building up a close relationship between Britain and India, not only in business but also in the cultural and educational fields,” the report said. It also said that the Hindujas’ bank, IndusInd, has been performing well in India, where many of group’s enterprises are located.