Lewis Hamilton enters Sunday Times Rich List for the first time

Formula One champion Lewis Hamilton has raced onto the Sunday Times Rich List for the first time, while the family behind Europe's biggest steelmaker have fallen out of the top 10, losing more than £2 billion in the past year.

Hamilton, who is Britain's wealthiest sportsman, is worth £106 million, according to the guide to Britain and Ireland's richest people.

Entrants had to have at least £103 million to make it onto the 2016 list, up from £100 million last year.

Steel magnate Lakshmi Mittal and his family, who own ArcelorMittal, have taken a £2.08 billion hit in the past year, dropping to 11th on the list.

The Mittals, who eight years ago were number one with a vast wealth of £27.7 billion - the biggest fortune achieved by anyone on the list before or since - now have a much-dwindled fortune of £7.12 billion.

Earlier this month it was reported that ArcelorMittal board member Wilbur Ross could be among investors expected to be contacted about buying some of Tata's business interests in the UK.

At the top of the 2016 money pile are property tycoons the Reuben brothers, whose ownership of London's Millbank Tower and the John Lewis headquarters in the capital have helped them build up £13.1bn.

Mumbai-born David and Simon Reuben, who also own London Oxford Airport and London Heliport, have increased their fortune by £3.4 billion in the past year.

Brothers Sri and Gopi Hinduja, who run the Hinduja Group, remain in second place a year on with an unchanged fortune of £13 billion. Completing the top three is Warner Music owner Len Blavatnik, who despite a drop two places after a reduction in wealth by £1.58 billion, has £11.59 billion.

The 2016 Sunday Times Rich List will be published on Sunday.