Ireland's Rich List: 61-70
Published 31/03/2010 | 16:16
61. KEN ROHAN
€ 155M DEVELOPER
Wicklow developer Ken Rohan was another who made the bulk of his money in the good times. He built office blocks in Grand Canal Plaza and several business parks around Dublin, as well as developing projects in the UK and Barbados.
Things aren't so good anymore. The latest figures show profits fell 80 per cent to €7m in 2008, with turnover halved. His company had shareholders’ funds of €150m and paid €5.2m in dividends over two years. Borrowings are lowish by comparison with other developers.
His 34-year-old son Jamie has just taken over the family firm as managing director.
62. GEORGE MOORE
€ 148M TECHNOLOGY
Louth technology multi-millionaire George Moore hit the big time when his software marketing firm NDS was sold for €80m in 1990. He promptly bought Belleek Pottery with some of the proceeds before setting up another IT company Targus. In 2005, TA Associates put €49m into the company, valuing it at over €200m.
Apart from a large stock portfolio, 58-yearold Moore has also invested in Donegal Parian china. His Ravensdale Investments owns properties in Central Europe.
63. HARVEY McGRATH
€ 145M FINANCIER
The former Man Group hedge fund boss now chairs the UK's Prudential, which launched a €32bn bid for AIG's Asian assets last month. The art collecting Ulsterman retains an €81m stake in Man Group, but share sales, vast prior earnings and dividends bulk up his wealth.
He owns properties in Kensington and Worcestershire.
64. SIR MARC COCHRANE
€ 136M INHERITED
Cochrane and family pocketed €152m before tax from selling 52 acres at Woodbrook in south Co Dublin. Born in Lebanon, the Irishman went to Eton and Trinity. He is a former managing director with a prominent London fund manager.
65. PAUL COULSON
€ 135M INVESTOR
The Cooler’s €26m Shrewsbury Road pad went on the market last year as he's spending more time abroad with humongous glass bottling firm Ardagh — Europe’s third biggest glassmaker.
Pulled off one of the deals of the decade by offloading the Irish Glass Bottle site to Derek Quinlan, Bernard McNamara, and a bevy of Davy investors for €412m. He has an extraordinarily diverse portfolio, with property, shares and art
66. WALTER BEATTY SNR
€ 135M SOLICITOR
Walter Beatty's extended clan shared in €888m of dividends from the Jurys Doyle group in a two-year period as it sold assets. The extended Doyle family also got a chunk of the windfall.
Beatty has an sizeable share portfolio.
67. THOMAS TOUGHER
€ 135M FUEL
Tougher owns TOP, one of the State's largest oil distributors. The Kildare company's assets include a chain of petrol stations, a pub, hotel, industrial park and a restaurant. Sales rocketed to €99m with pre-tax profits of €2.2m.
AIB and Bank of Scotland have lent close to €100m to Tougher Oil, which had shareholder funds of €126m and paid €1.5m dividends to the Toughers.
TOP also put €4m into pensions for Tougher and wife Geraldine. TOP also owns quite a nice Bell 407 chopper.
68. EDDIE O'CONNOR
€ 130M ELECTRICITY
Ex-Bord na Mona chairman Eddie O'Connor, 62, grossed about €50m when his Airtricity windpower firm was bought for €1.1bn by SSE in 2007.
He re-invested the cash, forming Mainstream Renewables, which has raised €96m from investors to bulk up in the sector. Mainstream has a portfolio of investments and over $3bn of joint venture projects from Chile and Canada to the North Sea.
Barclays took a 14.6 per cent stake for €20m in 2008, valuing the firm at about €140m. A lot has happened since then, so we value Mainstream at closer to €200m. The ownership structure is complex but O'Connor seems to own about 65 per cent.
69. REIHILL FAMILY
€ 130M FUEL
Tedcastles, chaired by John Reihill, is one of Ireland's largest private fuel importers and distributors, with an estimated 12 per cent slice of the market. The company completed a €207m refinancing recently and is thought to be worth about €130m
70. FRANK BURKE
€ 125M CONSTRUCTION
Burke, 61, and family run a number of UK construction and property firms, holding assets worth over €123m.