A testament to resilience
WELCOME to the 13th Asian Rich List under the
auspices of Asian Media Group.
The ongoing conflict in the Middle East, the now
more than 18-month-long war in Ukraine, and the
cost of living crisis have all had a huge impact on the
global economy in one way or another.
Amidst rising inflation and rocketing energy pric-
es at home, the British economy has either stagnat-
ed or has still not reached the potential we would all
hope for.
Whatever view you take, it is impossible to deny
that British Asian entrepreneurs continue to chal-
lenge, innovate, and succeed. This Asian Rich List is
a testament to their skills.
The Brown pound, especially at the top end, con-
tinues to be resilient, and many have continued to
add to the overall wellbeing of our nation – and not
just solely in money terms. Many have turned the
corner from the pandemic and the restrictions it im-
posed.
We look at wealth in the round, and while some
are understandably reluctant to talk num-
bers and figures and commercial success,
there are many who put their funds to
good causes and stress their giving as
part of a deeply-embedded philoso-
phy of gratitude and respect for those
trying to make the world a better and
safer place for all.
There are, here then, stirring stories
of success - against the odds - of humble
beginnings and creating enterprises that are
global and world-beating and synonymous now
with British entrepreneurial flair - global Britain at
its very best, if you will.
There are 101 such stories here, each one a hero
in some way. And for the most part, many remain
self-made, and are either first-generation immi-
grants to this land or second-generation British-
born, and are dynamic and energetic in the pursuit
of stability for themselves, their families, and their
communities.
Many are also from family businesses, which
have become professionalised and com-
mand widespread sectoral, national, and
international recognition.
Our politicians can easily miss the
benefits of economic migrants – doc-
tors, carers, and tech specialists, to
name just a few – who help to keep
the economic wheels of our country
moving and often bring ideas and in-
ventions to these shores.
Imagine for a moment that there is no
Asian community to speak of – that the doomsayers
and sceptics had actually won their argument in the
1960s or 1970s - and the economic, social, and cul-
tural landscape would look totally different.
There would be no Prime Minister Rishi Sunak,
for example, or David Lammy, Shadow Foreign Sec-
retary.
It’s highly doubtful that Indian cuisine would
have such a global stature or that the pharma indus-
try would be such a beacon for talent and prosperity.
Almost every entrepreneur here, because of their
ethnicity, has faced some sort of hurdle or struggle –
racism isn’t something that has disappeared with
economic success. It returns in different guises,
sometimes in the language of culture or social cohe-
sion, and we must remain vigilant and call it out
where we see it, for it seeks to make us all poorer
economically and culturally.
Compiling the Asian Rich List is a mammoth task
in itself and is rooted in detailed knowledge and un-
derstanding of the Asian business environment in
Britain for more than five decades. Many here do not
speak to other publications; they continue to share
their insights and stories with us. It is an incredible
honour and privilege, and one we never take for
granted.
A huge team, as always, has been involved in put-
ting this publication together ,and it is always a thrill
to unveil it at the glamorous Asian Business Awards
in what is to be its 25th anniversary edition this year.
We present the Asian Rich List as a chronicle of
success, a clarion call to budding entrepreneurs eve-
rywhere, and a salute to the sheer enterprise and
endeavour found in British South Asian communi-
ties.
We hope you enjoy the Asian Rich List and feel
suitably inspired. We know we both do.
Kalpesh R Solanki and Shailesh R Solanki
SHAILESH SOLANKI has over 30
years’ experience in consumer and
business journalism. An econom-
ics graduate, he is the executive
editor of the Asian Media Group,
overlooking the editorial function
of the group’s titles, Eastern Eye,
Garavi Gujarat newsweekly, Asian
Trader, Pharmacy Business, Asian
Hospitality, and GG2 Power List.
Shailesh is also responsible for the
group’s US publishing business,
based in Atlanta, Georgia.
SUNEEL GUPTA is a chartered ac-
countant with more than 20 years’
experience of working with inter-
nationally listed, private-equity-
backed, and owner-managed
businesses in the UK and India.
Suneel has considerable experi-
ence advising businesses within
the Asian community. He has pre-
viously spent a number of years
working for a ‘big 4’ accountancy
firm and is currently a partner
with a leading mid-tier firm.
SAQUIB MEHERALLI has more
than 20 years’ experience working
with a broad spectrum of business-
es in the UK, in particular interna-
tional businesses across the United
States, Europe, and Asia. A char-
tered accountant, he is a senior
manager at Evelyn Partners LLP, a
top 10 accountancy firm, overlook-
ing the compliance and advisory
sides of business. He currently ad-
vises owner-managed and high-
net-worth businesses.
AMIT ROY collaborated with
Philip Beresford to compile the
first Asian Rich List in 1990. As a
foreign correspondent for The
Daily Telegraph, the Daily Mail,
the Sunday Times and the Sunday
Telegraph, he has covered wars,
including the Falklands conflict,
all over the world. He has written
economic supplements on India
for the Daily Telegraph, and is a
columnist and editor-at-large at
Eastern Eye.
The Asian Rich List panel of experts
Eastern Eye’s Asian Rich List was extensively researched, and the final evaluations were considered
by a distinguished panel of experts from the world of finance and business journalism...
2024 | Eastern Eye Asian Rich List
Asian Rich List
Ramaniklal
Solanki CBE