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Recession has not hit the wealthiest

Ongoing economic turmoil in the UK appears to have had little impact on the country's wealthiest individuals.

According to the latest Sunday Times Rich List, the UK's wealthiest 1,000 people are worth a total of £414 billion - that is an increase of 4.7 per cent on last year's figures.

As a result of the increase, the super-wealthy have seen their assets and bank balances return to pre-recession levels, setting a new record.

Top of the rich list was Lakshmi Mittal, with £12.7 billion. It is the eighth year in a row that the 61-year-old has held the top spot.

Some 77 billionaires were included on the newspaper's list, with the lowest earner presiding over a £72 million fortune.

Despite the startling growth in value of the 1,000 wealthiest people's assets, the three richest - Mittal, Alisher Usmanov and Roman Abramovich - all saw their fortunes depreciate.

Mittal's wealth pales in comparison to the world's richest man, Carlos Slim Helu, who has an estimated fortune of £42 billion, according to US magazine Forbes.ADNFCR-1898-ID-801352268-ADNFCR

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