Richest Man Lakshmi Mittal to buy Record Price Mansion at Kensington
Credit crunch is not for everyone - Britain’s richest man steel tycoon Lakshmi Mittal proved again. He is to buy a record breaking £117 million mansion on Palace Green, an extension of Kensington Palace Gardens. This would be the most expensive property ever sold in London. The price tag works out at £8,000 per square foot and smashes the previous £80m record for a London home.
Mr Mittal is buy the mansion for his elder son Aditya, 32, who wants to live near to his parents. Mr Mittal lives near to Kensington Palace Gardens in a 12-bedroom luxury home with Turkish bath and ballroom. He bought it from Formula One chief Bernie Ecclestone in 2004 for £57m.
Mr Mittal, 57, has topped the list four years in a row and is worth an estimated £27.7bn, with his wealth growing 44 per cent last year.
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