MONEY TO BLOW: Forbes Billionaire Mittal Looks To Buy Entire U.K. Mountain

Indian billionaire Lakshmi Mittal, No. 63 on the FORBES world billionaires list, was revealed by the British press to be the man willing to shell out a mere $2.9 million to buy Blencathra Mountain in England. The property, which already is in private hands, is located in Cumbria’s lake district and is facing opposition by locals who believe Mittal will not allow people anywhere near the 2,676 acre plot once he gets a hold of it.

Mittal is the Luxembourg-based CEO of mining giant Arcellor-Mittal and has many a millions to burn on trophy property. He owns two of the most expensive houses in London and has a 33% stake in the Queens Park Rangers football club, part of the U.K.s Premier League.

Blencathra is a 2,800 foot high mountain known as “Saddelback”, surrounded by quintessential English countryside and a glacial lake. It is being sold by the Earl of Lonsdale, Hugh Lowther, in order to help pay for over $10 million in inheritance taxes he owes the state. The desperate seller is looking to close quickly.

But once it became known last month that an anonymous bidder was hot on the trail of Blencathra, a group called the Friends of Blencathra came up with a counter-bid. The group said they hope to turn the site into public land. But they’ll have to depend on Lowther being more interested in the common good than he is in paying down his raging tax bill. They offered $504,000 less than what the Earl wants for Blencathra. What will be thinking to buy next???? ZUMA ROCK

 

Sold! To the Indian gentleman for $2.9 million.