Thursday, 9 October 2008

Britain's Richest Man Loses £20billion in Meltdown

DAILY MAIL: The financial meltdown has cost London's tycoons billions.

Their losses will have a massive impact on the city's economy, forcing the closure of hundreds of shops, restaurants, bars and hotels.

The biggest single loser is steel magnate Lakshmi Mittal, who has already seen £20billion wiped off the fortune that made him Britain's richest man.

The cost to the billionaires emerged today as Gordon Brown said bankers and financiers who take irresponsible risks should be "punished". Britain's Richest Man Loses £20billion as Tycoons Feel the Force of Markets Meltdown >>> By Jonathan Prynn, Hugo Duncan and Joe Murphy | October 9, 2008

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