Gopi & Sri Hinduja

 

  • Richest of the Rich position: 112
  • Birth/Death: diedob 29/02/1940 andied 08/11/1935
  • Origin of wealth: Industry, property and finance
  • Wealth: £900,000
  • Net National Income: £160m
  • Net National Income Percent: 0.56%
  • In Today’s Money: £6.2 billion

Flexing their financial muscles on the global stage has put the Hinduja brothers in the limelight of late. Early in 2007, they bid, unsuccessfully, to buy a stake in Hutchison Essar, India’s second-largest mobile phone company, which would value the business at over £9bn. This was followed with the news that the Hindujas were weighing up the acquisition of a stake in Telecom Italia, the former Italian monopoly, after being approached by a party seeking to offload a holding.

That the brothers are now so prominent on the international stage is no accident. In June 2005, the brothers celebrated victory in the New Delhi High Court, having been acquitted of accepting kickbacks in the long-standing Bofors affair. They were alleged to have accepted bribes from the Swedish arms firm Bofors to clinch a $1.3bn deal to sell 410 howitzers to the Indian army in 1986.

With the decks cleared, many doors that were previously closed to them are now opening. Aside from telecoms they have now gone into two new areas.

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