Britain home to 68 billionaires

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According to The Sunday Times Rich List 2007, the richest 1,000 people have also seen their wealth soar by £59 billion in the last 12 months.

Steel tycoon Lakshmi Mittal again tops the list with a fortune put at £19.25 billion, up more than £4 billion on last year.

He strengthened his position at the top by acquiring Arcelor, the world's second-largest steel maker behind Mittal Steel.

The combined business, called Arcelor Mittal, produces 115 million tons of steel a year and accounts for about 10% of the world market.

Mittal is followed in the list by Chelsea owner Roman Abramovich, who is still at number two despite his fortune remaining the same at an estimated £10.8 billion.

His costly divorce from ex-wife Irina may only have caused a small dent in his coffers, but it also means she is now 452 in the list herself with £155 million.

The combined wealth of the richest 1,000 now stands at just under £360 billion, up from £301 billion a year ago.

This 20% rise compares with a 14.8% increase in the wealth of Europe's top 50 richest people and an 8.3% rise among the fortunes of the world's top 50.

Many of the billionaires in the UK list are foreigners who have chosen to make Britain their home, possibly for tax reasons.