Saturday 10 December 2016

Ireland's Rich List: 251-275

Published 31/03/2010 | 16:47

STOKE ON TRENT, ENGLAND - MARCH 13: Aston Villa Manager Martin O'Neill looks on at the start of the Barclays Premier League match between Stoke City and Aston Villa at Britannia Stadium on March 13th, 2010 in Stoke on Trent, England. (Photo by Bryn Lennon/Getty Images)
STOKE ON TRENT, ENGLAND - MARCH 13: Aston Villa Manager Martin O'Neill looks on at the start of the Barclays Premier League match between Stoke City and Aston Villa at Britannia Stadium on March 13th, 2010 in Stoke on Trent, England. (Photo by Bryn Lennon/Getty Images)
MALAGA, SPAIN - MARCH 24: Darren Clarke of Northern Ireland looks on during the Pro-Am of the Open de Andalucia 2010 at Parador de Malaga Golf on March 24, 2010 in Malaga, Spain. (Photo by Warren Little/Getty Images)
LONDON, ENGLAND - FEBRUARY 09: Roy Keane manager of Ipswich looks on ahead of the Coca-Cola Championship match between Queens Park Rangers and Ipswich Town at Loftus Road on February 9, 2010 in London, England. (Photo by Hamish Blair/Getty Images)
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251. JOE NALLY

€26M RETAIL

Nally sold five supermarket outlets and a big chunk of land to Musgrave in 2003. Six months later Musgrave flipped the shops to independent retailers for around €30m. The Dunboyne man was involved in property and stud farming. His wealth was hit by a substantial Revenue settlement in 2004.

252. JAMES GARVEY

€25M ENGINEERING

London-based TCD civil engineer graduate Garvey retired as a partner with Goldman Sachs, only to take up a new banking job when he became head of capital markets at Lloyds Bank in the UK. His new job pays about €1.2m per year. Previous Goldman earnings and bonuses boost his wealth.

253. KYRAN McLAUGHLIN

€25M STOCKBROKER

McLaughlin is the blue-chip dealmaker. He's been active in most big plc transactions of the last 20 years. He also went into property with Davy Hickey, which owns a €36m stake in French listed company Icade. But fronting a debt-heavy €400m-plus deal to buy Davy Stockbrokers at the top of the market wasn't his smartest move.

254. MAURICE HEALY

€24M BUSINESSMAN

Healy led the €103m management buyout of telecoms services firm Calyx in 2006, with Alchemy Partners providing much of the financial welly. He subsequently bought out his partners. Calyx had sales of about €135m in 2008 and had been working off operating margins of 10 per cent in previous years. There a big chunk of debt and Healy's value will increase as that is paid down.

255. BRIAN DAVY

€24M STOCKBROKER

One of the main shareholders and chairman of Davy Stockbrokers, which bears the family name. BoI sold Davy to management for €400m at the top of the market. Davy has other private investments.

256. OWEN KILLIAN

€24M FOOD

Killian replaced Philip Lynch as CEO of croissant maker IAWS in 2003. In 2008 he merged it with Swiss baker Hiestand in a €2.5bn deal, doubling the size of the firm. Killian has a €15m stake in the Swiss listed company, combined with a huge pay packet. He's also sitting on a wodge of options that will see his wealth soar if they kick in.

257. JOHN & HEATHER MAYBURY

€24M INFORMATION TECHNOLOGY

Data storage firm Eurologic spent most of the 1990s/early 2000s as the “next big thing” with valuations just north of €1bn. But reality hit and the technology company was squeezed. US firm Adaptec bough the company for about €28m in 2003.

258. MARTIN O’NEILL

€24M FOOTBALL

Ulsterman Martin O'Neill was a damn useful footballer, winning a European Cup medal with Nottingham Forest and playing in theWorld Cup in 1982. He has made the transition to the sidelines where he’s been a top-flight manager for 15 years, having led Leicester City for five years before a lucrative period at Dermot Desmond's Glasgow Celtic, where he sold a €2.5m stake in the club. He has been earning €3.3m per year for the last four years at Aston Villa

259. JOE CAVANAGH

€24M MANHOLES

Offalyman Joe, 53, made a bundle when family-owned manhole cover manufacturer Cavanagh Foundry was bought in 2000. Initial figures suggested a price of €30m, with Cavanagh the majority shareholder



260. MICHAEL ENRIGHT

€24M BUSINESSMAN

Enright, 61, and his family control Limerick logistics firm Walsh Western International, which spent €230m on rival US firm TDS. Enright's wealth was hit by the property crash. Stowberon, a firm owned by Enright, lent €48m to developers of the Millennium Park scheme in Naas, where values tanked. He also has investments in the tech sector.

261. LIAM SHANAHAN

€23M ENGINEERING

Colombia-born but Blackrock-educated, his Shanahan Engineering has electricity plant contracts from the Middle East to Australia and back again. The unlimited company is thought to have sales north of €60m.

262. LIAM YOUNG

€23M DIRECTORY ENQUIRIES

Clonskeagh resident Liam Young made a fortune out of directory enquiries. With the late Eddie Kerr he set up Conduit, which floated in 2000 during the dotcom boom. Young sold around €3m worth of shares before the market turned. He led a €55m take-private of the firm in 2003 before stepping down as boss. Young netted €17.1m when the firm was sold to Infonxx in 2006. He has commercial property in Dublin and is involved with a shellfish farm and a waste-to-energy project.

263. HUGH O'DONNELL

€23M ENGINEERING

UL-educated engineer Hugh O'Donnell owns a €18.6m stake in AIM-listed Kentz Engineering, providing infrastructural and consultancy info for the oil and gas business. He sold €3.3m worth of shares when they floated in 2007 and was paid more than €3.3m between 2007 and 2008. Taxes and a near-$1m deal to buy Kentz assets have trimmed his net worth slightly.

264. JOHN KERRY KEANE

€23M INVESTMENTS

John Kerry Keane re-invested much of the €22m he pocketed in 2001 from selling the Kilkenny People. His portfolio includes a chunk of Jarvis Hotels in the UK and two big office blocks in Sandyford, bought with former Anglo chairman Sean FitzPatrick, Smurfit's Gary McGann and Denis O'Brien.

265. JOHN LAVERY

€23M ENERGY

Dublin solicitor John Lavery was one of the founders of Eddie O'Connor's Airtricity, which was sold for €1.2bn last year. Apart from running a legal practice, Lavery has hooked up with O'Connor in Mainstream Renewables, his new windfarm outfit.

266. DARREN CLARKE

€22M GOLF

The 41-year-old cigar-chomping bleachy blonde golfer has been taking it easy of late. Career earnings of €16m are topped up by endorsements/sponsorships of €7m.

267. PADRAIC FALLON

€22M FINANCIER

Fallon, who served on the board of AIB, is chairman of Euromoney Institutional Investor, a financial service information company. His stake is worth €3.45m, but he has been highly paid, pocketing a €3.7m bonus last year on top of more than €13m in previous earnings. He holds other assets.

268. CLAYTON LOVE JR

€22M MERCHANT PRINCE

A €1.4m Revenue settlement last year after the Ansbacher investigation, will have dented the 81-year-old Cork merchant prince's wealth, built on shopping centres in Douglas and Blackpool.

269. ALISTAIR & CHRIS KENNEDY

€22M CONSTRUCTION

The third generation to run the Kennedy Construction and property development firm in Coleraine with assets in Cumbria, Antrim and Belfast. The company sponsors the North West 200 motorcycle show.

270. PHILIP LYNCH

€22M INVESTMENTS

We may have vastly underestimated Philip Lynch's wealth. After transforming IAWS from a sleeping agribusiness firm into a global food company, Lynch is trying to do the same with One51. The business has interests from nuclear waste disposal to insurance. Profits may fall to €45m in 2009 and Lynch's stake is worth €9.6m. He had large block of shares in Aryzta, United Drug, FBD and C&C and has traditionally been paid very, very well. He was named as one of the investors in the world famous Sawgrass golf hotel complex in Florida, where Tiger Woods held his “I'm sorry” press conference recently.

271. ROY KEANE

€22M FOOTBALL

Ireland's second-greatest footballer may have been overvalued of late. Sure enough, there was the near €5m a year wages at the end of his time at Man Utd, then there was a €3m per year job managing Sunderland. But tax will have eaten into those earnings.

272. DERMOT McDONOUGH

€21M FINANCIER

Goldman Sachs international controller, responsible for Europe and Asia. He’s been a managing director since 2003. Average bonuses for new partners started from $5m per year in the good and not so good times.

273. CHRIS HORN

€21M INFORMATION TECHNOLOGY

A founder and a major shareholder in Iona Technologies, one of Ireland's best known tech firms. At the height of the dotcom boom, Dr Horn's stake was worth close to €400m. He is thought to have netted €9m when Iona was sold to Progress Software last year. Share sales and other assets have added to his wealth.

274. NOEL DONOHUE

€21M FINANCIER

Donohue was Goldman Sachs global head of risk from 1999 to 2005. As a partner he would have enjoyed bonus bonanzas. John Thain hired him in 2008 for the same role at Merrill Lynch but Thain was ousted soon after, as the Wall St bank imploded.

275. SEAN EWING

€21M FINANCIER

Donegal-born hedge fund boss Sean Ewing looks like someone from a daytime soap opera. His timing was nothing short of spectacular, selling out of his AIM-listed Absolute Capital Management hedge fund as the markets began to tank. The former star amateur golfer (who represented Donegal) sold financial services firm Farlake for €36m in 2003.

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