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Archive - Tuesday, 18 March 2003
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Kassam ranked 19th on Asian rich list
The list, to be released by the Asian Xpress newspaper on April 25, places him as the 19th wealthiest Asian with a £76m fortune.
The list, which will place steel tycoon Lakshmi Mittal in number one position with £1.3bn, reckons the combined wealth of the 300 richest Asians is £8.9bn.
Publisher Sarawar Ahmed said: "Many of our millionaires lost everything before coming to the UK. The Rich List clearly demonstrates just how far Asians have integrated into the fabric of British society."
Mr Kassam came to Britain with no money in the 1970s from Tanzania, in Africa, and began his business career with a fish and chip shop in Brixton.
He now runs a chain of hotels, including Heythrop Park, set in 450 acres of parkland near Enstone.
The Asian Xpress Rich List was compiled by Philip Beresford, who prepares the annual Sunday Times Rich List. But the Mail on Sunday, which claims Mr Kassam is the 211th richest person in Britain, believed the entrepreneur was wealthier still.
Its report said: "His business interests are controlled through four companies of which he is sole owner. The assets total £87m and he paid himself £2.4m last year.
"Taking into account past salaries, Heythrop Park (which is worth about £40m) and other ventures, we estimate he is now worth at least £152m."