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| Water tycoon 'Scotland's richest' | Water tycoon 'Scotland's richest' |
| (20 minutes later) | |
| The billionaire owner of the Highland Spring bottled water company has been named as Scotland's richest man. | The billionaire owner of the Highland Spring bottled water company has been named as Scotland's richest man. |
| The latest Sunday Times Rich List said Mahdi al-Tajir's wealth stood at £1.5bn - making him the 18th richest man in the UK. | The latest Sunday Times Rich List said Mahdi al-Tajir's wealth stood at £1.5bn - making him the 18th richest man in the UK. |
| But the survey said Mr al-Tajir was not immune to the recession as his fortune fell by £700m since 2008. | But the survey said Mr al-Tajir was not immune to the recession as his fortune fell by £700m since 2008. |
| Sir Ian Wood, chairman of the wood Group engineering company, was second on the list with £747m. | Sir Ian Wood, chairman of the wood Group engineering company, was second on the list with £747m. |
| As well as owning Perthshire-based Highland Spring, Mr al-Tajir, 77, has interests in oil and gas, metal and property. | |
| He is a former United Arab Emirates ambassador to the UK, and owns an 18,000-acre estate in Perthshire, as well as a home in London. | |
| The Rich List showed that many of Scotland's wealthiest people had lost large amounts of their fortune during last year's economic crisis. | |
| Among the biggest losers were construction boss Keith Miller, whose fortune plummeted from £730m to £180m. | |
| Stewart Milne, chairman of Aberdeen FC and founder of the Stewart Milne property group, saw his wealth drop from £400m to £90m. | |
| Other famous Scottish names on the Rich List were Rangers owner David Murray, who is worth £500m - £220m less than a year ago - and Harry Potter author JK Rowling with £499m. |