Friday 9 December 2016

Ireland's Rich List: 226-250

Published 31/03/2010 | 16:47

Eddie Jordan says news of Michael Schumacher's skiing accident came as a 'major shock'
Eddie Jordan says news of Michael Schumacher's skiing accident came as a 'major shock'
Bill Cullen is at 233 on the list with a fortune of €34m
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226. HORGAN FAMILY

€35M PLASTICS

Corkman Gary Horgan and his family are thought to have shared close to €40m from the sale of their Quality Plastics firm to Belgo-Austrian outfit Pipelife in 2007.

227. JIM MOUNTJOY

€35M TECHNOLOGY

Dr Jim is one of the most successful techie entrepreneurs on the island. He sold his Dun Laoghaire-based Euristix to Fore Systems, netting about €11m in Fore shares.

Within eight weeks Fore Systems was taken over, doubling the value of his holding. He then invested in Irish tech firms, bagging big paydays when $110m Havok was bought by Intel, when Similarity Systems went for $55m, and when Vodafone paid €80m for Perlico. He retains stakes in such companies as Tango and Corvil.

228. WILLIAM HUGHES

€35M NURSING HOMES

Hughes and his wife control BM Care, a chain of UK nursing homes. It has also moved into the creches and serviced offices.

229. MARTIN KEANE

€34M HOTELIER

Temple Bar publican/hotelier Martin and wife Vera control the €35m Drayton House business, which owns Blooms Hotel, the Left Bank and Oliver St John Gogarty, as well as other assets.

230. EDDIE JORDAN

€34M MOTOR RACING

How much of the €45m he got for his F1 team has he still? Investments in a hedge fund wobbled, while a stake in an online bookmaker got wiped out. But the part-time rock and roll drummer did spend €10m on a new yacht — so things can't be that bad.

231. IVAN McCABREY

€34M CONSTRUCTION

Dr Ivan's Antrim construction and civil engineering firm is global, with contracts from Malaysia to Romania to Dubai. there were profits of €3.5m (off sales of €103m) in 2008 for the firm that built a palace for Saddam Hussein, a hospital in Gaza and the Thunder Mountain ride at Euro Disney.

232. JOHN RYAN

€34M IT SECURITY

Tipp-born Ryan used work as a technician in RTE. He managed to keep some entrepreneurial zeal intact and left for the US where he set up Macrovision, which pioneered anti-counterfeiting technology.

The company floated with a valuation of €18m, hitting $4bn at the top of the market. He retains a small stake in the NASDAQ listed firm (now called Rovi), having sold most of his stock when markets were toppy.

233. BILL CULLEN

€34M MOTORS

Bill might need 100 apprentices to help the car industry get through its worst trading period ever. His Glencullen Group has lost heavily in the last two years of trading. 2009 and 2010 will hardly be better. Turnover fell by one third to €53.7m but the firm rejigged its bank financing. Cullen made plenty of good money in the boom times though.

234. MICHAEL GEOGHEGAN

€33M BANKER

Tipperary's Michael Geoghegan is one of the most powerful bankers in the world. He owns a €19.8m stake in HSBC and recently said he’d give his €4.5m bonus to charity. He was paid over €10m in the last three years.

235. EOIN McCARTHY

€33M CONSTRUCTION

One of the first in the door at Kingspan. McCarthy retired from executive service in 2002 and has sold close to €25m worth of shares. Tax will have taken a big bite out of that windfall. He retains a near €12m stake.

236. MICHAEL FINGLETON

€31M BANKING

The controversial ex-Irish Nationwide boss left with a €27m pension pot plus a €1m bonus. The pension pot may have lost a big chunk of its value, but the 72-yearold Fingleton was paid close to €8m in his final years. He has property interests and a block of Philip Lynch’s One51

237. GILMARTIN & FITZPATRICK FAMILIES

€30M WAREHOUSING

The Gilmartins and Fitzpatricks shared most of the €38m that Doyle Shipping paid to buy their Cork warehouse firm Moyglare holdings after a bidding war. Developer Liam Carroll had also tried to buy it.

238. DAVID HENDERSON

€30M CONCRETE

The 54-year-old’s Tobermore Concrete in Derry was hit hard by the recession, letting staff go at the start of last year.

239. CATHAL JACKSON

€29M NIGHTCLUBS

There must be a heck of a lot of nurses and off-duty gardai on the razzle. Jackson owns Dublin nightclub Copperface Jacks and the hotel above it, seeing a €6m profit in 2009.

240. MICHAEL DOYLE

€29M HOTELS

Michael, of the Doyle hotel family, picked up about €24m for his shares back in 1995.

241. PETER & PAUL NAGLE

€29M SOFTWARE

The Nagle brothers are said to have bagged most of a €30m buyout of their Integrity software firm in 2003. The brothers had planned a float on the NASDAQ during the dotcom boom, but markets crashed before the could get the issue away. The Nagles are thought to have interests in South Africa.

242. PAUL HUNT

€28M DRINKS

Hunt 62, owns a chunk of NI booze firm James E Hunt, with €90m sales last year, though profits halved to €2.5m. They paid €11.4m dividends in 2007. An associated firm, Golf Holdings, has paid dividends of nearly €10m since 2008. He also has assets in hotels, property and wine sellers.

243. NIALL FITZGERALD

€28M BUSINESSMAN

The Sligoman got an honorary knighthood after helming Unilever for a decade. He also chairs Reuters and spy firm Hakluyt. He was well paid at Unilever, his stake in Reuters and Unilever is worth €11m, and there’s other investments, dividends and previous earnings. There's also a mega pension.

244. JOHN RAFTER

€26M BANKING

Blackrock's Goldman Sachs zillionaire. The UCD and Stanford educated executive has coined it since becoming MD of banking at Goldman Sachs International 10 years ago.

245. NIALL DORIS

€26M TRANSPORT

Doris sold his Nat Ross, Oman and Beverly Smyth removals and storage companies to Veris for €14m at the height of the boom. When the market tanked, he bought some of the assets back for just €74,000.

The 71-year-old Doris first demonstrated an extraordinary nose for deals when buying UK firm Rentacrate for €6.5m and flipping it for €18m three years later.

246. FERGUS HOBAN

€26M HEALTHCARE

Fermoy's necklace-wearing ex-pharmacist Hoban, 41, is thought to have made €23m when the Unicare chain of chemists was bought by German firm Gehe in 2002.

Hoban invested in Carr Communications, but remains focused on his Touchstone Medical Centre firm, which has two centres in Ireland and plans to open up to 60 nationwide. He owns property in Portugal.

247. KEVIN MOLLOY

€26M DRINK

From booze to property to donuts, Molloy’s business empire has suffered from the recession, as discretionary spending fell. However Molloy Holdings, which owns Molloy’s Liquor Stores, still had shareholders’ funds of €39m in 2009.

248. MARK MORAN

€26M PRIVATE HEALTH

The ex-EBS chairman made a packet when private equity group Capvest bought out Moran and partners when taking control of the €350m-valued Mater Private Hospital. Moran had bought into the hospital in a €41m deal just three years earlier.

249. LIAM O'MAHONY

€26M CONCRETE

The new IDA chair will need all his skills to attract jobs to Ireland. A CRH lifer, he still holds a €19m stake in the company, as well as shares in Smurfit (which he also serves as chairman). Prior salaries and dividends at CRH brought in a further €10m before tax.

250. DEREK GEDDIS

€26M FOOD

Geddis, 61, heads Avondale, the Craigavon vegetable, coleslaw and sandwich-making food company. Sales hit €35m last year.

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