Arab tycoon is Scotland's richest man.AN Arab billionaire has overtaken Sir Tom Hunter as Scotland's richest man, according to the Sunday Times Rich List The Sunday Times Rich List is a list of the 1,000 most wealthy people or families in the United Kingdom, updated annually in April and published as a magazine supplement by British national Sunday newspaper The Sunday Times since 1989. yesterday. Mahdi al-Tajir, 77, who owns Highland Spring mineral water and the 24- acre Blackford estate in Perthshire, has topped the list with pounds 1.5billion. Retail tycoon Sir Tom, who topped last year's list with pounds 1.05billion, is thought to have lost half his wealth in the credit crunch Credit Crunch An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. . He asked to be taken off the list as he has pledged his cash to charity. Oil tycoon Sir Ian Wood, of Aberdeen, retained second place with pounds 747million down from pounds 890m in 2008.. CAPTION(S): FORTUNE Mahdi al-Tajir |
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