London, November 10:

London-based global steel baron Lakshmi Mittal — whose Mittal Steel Co is the world’s largest steel producer — is the richest billionaire not only in Britain but also in Europe, according to latest research by the Luxury Institute.

A listing of the 50 richest Europeans by the research organisation mentions that Mittal’s personal wealth is estimated at 24 billion euros. The list is due to appear in the December issue of ‘European Business’, a leading business and finance monthly.

The new ranking refutes that Russian billionaire Roman Abram-ovich would soon overtake Mittal.

Top five richest

• Lakshmi Mittal (UK, steel) €24 billion

• Ingvar Kamprad (Switzerland, retail) €22.8 billon

• Karl Albrecht (Germany, retail) €19 billion

• Liliane Bettencourt (France, retail) €17.2 billion

• Bernard Arnault (France, retail) €17billion