(with links) Asian Business Awards 2016 – Stars and political foes come out to salute enterprise (story only)

March 28 2016

A definitive date on the social calendar and when the best of the business is celebrated and saluted…

STARS from stage and screen and the world of broadcasting lit up the red carpet at this year’s Asian Business Awards (ABA).

It was an extremely busy place too with millionaires and billionaires taking the main spotlight.

But not to be outdone were two politicians vying to be London’s next mayor.

Sadiq Khan MP for Tooting and Zac Goldsmith MP for Richmond Park and North Kingston, both separately subjected themselves to a thorough grilling from ABA compere and broadcaster Nihal Arthanayake who fronts the BBC Asian Network station’s flagship morning news and phone-in programme.

We think Khan just edged it on the evening, but both would be fine ambassadors for our capital – you can read a full report in this week’s Eastern Eye.

The evening (March 18) also saw the launch of the annual Asian Rich List, which profiles the country’s 101 richest Asians.

It is, as always, released at the glittering awards dinner, which this year took place at the Park Plaza Westminster Bridge in central London.

India’s high commissioner Navtej Sarna helped to launch the “Asian Rich List” in front of the high-powered business and celebrity audience of more than 800 people.

Sarna, an author and critic himself, praised the success of Asian businesses in the UK.

The Asian Rich List, published by the Asian Media & Marketing Group (also publishers of Eastern Eye and GG2) and details of how you can obtain a copy are shown below…

It profiles the country’s 101 Asian multi-millionaires and includes several exclusive interviews with the country’s leading business figures…

Other details from the list, the 101 entrepreneurs…

• are worth a combined total of £55.5 billion (an increase of £1bn from last year and up from £40bn in 2010 when the first list was published by AMG)

• The Hindujas brothers are top of the list and their wealth across a diversified range of businesses is estimated to be £16.5bn. Their overall wealth has increased by £1bn.

•  Steel tycoon Lakshmi Mittal is no2 on the list and his wealth is estimated to be £6.4bn – but he is the biggest loser on the list – his wealth fell this year by £3.3bn.

• To get on the list your wealth has to be estimated to be £65 million…if you think you should be on it…apply here…only kidding!

• The wealthiest new entry is Cyrus and Priya Vandrevala. Recently resettled from New York to London, the couple have an estimated wealth of £2bn. Both are investors and have backed new businesses that have done very well – mainly in the US and India.

•  60 of the 101 millionaires have seen their wealth increase

• 22 have maintained their wealth

•  12 have seen a drop in their valuations
• Sir Anwar Pervez, the entrepreneur who founded the Bestway Cash & Carry chain has seen his wealth increase the most. His fortune has increased by £600m over the year, taking his total estimated wealth to be £1.7bn. Much of the upturn has come from a pharmacy acquisition. The Pakistani-born entrepreneur, who worked as a bus conductor when he first came to Bradford in the 1950s, now spends much of his time in Dubai, half-way between his businesses in the UK and Pakistan. He is 81 and no. 6 on the list.

• • 2 of those on the list are in their 30s – Nitin Passi founded online fashion chain Missguided and is no.96 with a net worth of £65m.

Shailesh Solanki, executive editor of AMG and one of the panel of four experts who did the all important number-crunching on the Asian Rich List, said: “This year’s Asian Rich List shows the remarkable resilience of Asian businesses.
“Despite another challenging year, the majority of businesses on the list continue to innovate and grow and have seen increases in their overall wealth. These dynamic entrepreneurs, many of whom came here with nothing but the clothes on their back, have built multi-million pound businesses and are an inspiration to us all.”

There were a host of top of politicians and leading public figures at the event too – these included: Neil Coyle MP, Lord Andrew Feldman, Rt Hon Sir Simon Hughes, Dame Asha Khemka, Seema Malhotra MP, Rt Hon Priti Patel MP and Rt Hon Keith Vaz MP.
Last year Prime Minister David Cameron was the chief guest.

SEE THE GALLERY HERE

List of full winners and their pictures – http://www.easterneye.eu/ABAwards/winners2016.php

Purchasing the Asian Rich List http://www.gg2.net/subs/index.php

Buying/subscribing Eastern Eye: http://www.easterneye.eu/subscribe/#/