Foreigners dominate UK rich list

The high price of steel has sent Mr Mittal's wealth soaring

Only one of Britain's five wealthiest people was born in the UK, according to the The Sunday Times Rich List 2007.

The £19bn fortune of Indian steel magnate Lakshmi Mittal ensured he kept his title as Britain's richest person.

The Duke of Westminster was ranked at number five in the list behind four non-Britons, including Chelsea owner Roman Abramovich who is worth £10.8bn.

Analysts said a growing number of mega-rich foreigners are attracted to the UK by a generous tax regime.

As well as Russia and India, the wealthy from Scandinavia and France are also looking to base themselves in the UK. Read more