Among his interests is the private jet business PrivatAir which ferries Middle Eastern families around the globe
Among his interests is the private jet business PrivatAir, which ferries Middle Eastern families around the globe.* INDIANS With a liking for the tax advantages, political stability and shared language, Indian tycoons are among the most prominent of the super-rich. The steel tycoon Lakshmi Mittal (worth £14bn) is the richest person in the UK. The brothers Gopi and Sri Hinduja have made their money from a diverse business empire, which encompasses oil trading, banking, trucking and telecoms.* ARABS Many Arabs make their home in the capital. Expensive breaks Vast malls, opulent hotels and long sandy beaches are drawing increasing numbers of rich Londoners to Dubai They won’t be going for a week’s sun and sand, though.
If you’d rather have a pen than a pendant, Harrods recently sold the La Modernista Diamonds for £144,612. It has an 18-carat gold point, and is set with 5,072 diamonds and 96 rubies. So who are the big spenders? * GREEKS Greek shipping tycoons are fond of London. The father of Spiro Latsis made his money from shipping but Mr Matsis is now more interested in aviation. It is opening a store in Russia, which will join outlets in Dubai, Hong Kong and the Maldives.
A spokesman for London diamond specialists Wint and Kidd said: “Far more people are coming in and spending money on rarer and more expensive coloured diamonds.” Earlier this month, jeweller Theo Fennell, whose clients include Liz Hurley, Elton John and the Beckhams, reported a seven-fold rise in pre-tax profits, fuelled by demand for signature pieces such as the St George’s Cross heart, above. Whether it’s a polo event – attended by an A-list royal such as Prince William (above) or Prince Harry – or an auction attended by an A-list celebrity, charity offers the nouveaux riches the opportunity to be seen to be generous – and, indeed, just to be seen Jewellery The demand for gems is up. There are many more prepared to spend their money on super yachts than before It’s really quite phenomenal.” Can’t afford one? Never mind Real sailors would probably deride it as a gin palace. Charity events Just because you’ve made your multi-millions doesn’t mean that every door is automatically open to you.
Contributing to a charity event is the time-honoured method employed by the newly rich tycoon who wants to meet the old aristocratic order (and be photographed with them). Sunseeker Charter says its fleet of luxury yachts – all 50 of them – are almost fully booked. Hiring one costs £55,000 a week, so perhaps it’s hardly surprising that sales of top-end yachts are also buoyant. Alev Karagulle, marketing director for Nigel Burgess, which has offices in Pall Mall and Monaco and sells yachts for between £2m and £50m, said: “There are definitely more ultra-high net worth individuals out there. “It’s clearly a factor,” remarked Mark Tennant, Bentley marketing director.
Meanwhile, Maserati’s Quattroporte (above) has helped boost sales of the marque across Europe by 25 per cent in the past year. Private yachts Want to charter your own luxury yacht this summer? You may be too late. The Omaha tycoon Warren Buffet has brought his NetJet private operation to Britain, selling “fractional jet ownership” – a kind of timeshare for the sky. Fast cars Car dealerships for the top marques are bucking the difficulties currently being experienced at the bottom of the market. Sales of Bentleys have increased from 1,000 in 2003 to 8,500 in 2005 A Bentley Arnage costs £150,000. Although the makers of one of Britain’s stateliest cars ascribe their success to the introduction of the sporty Continental GT coupe, the money sloshing around London has helped.