Saturday 29 July 2017

Ireland's Rich List: 71-80

71. TOM MORAN

€ 123M HOTELIER

Either the Red Cow Hotel owner Tom Moran was very clever or completely bonkers. The banks backed him to the hilt when he paid up to €560m to buy the Bewleys Hotel group from Bert Allen in 2007 as the markets were tumbling. The hotel sector is suffering but Limerick man Moran hopes to break even by the start of next year.

The company has said that its assets were worth €1.1bn after the deal but there's a mountain of debt.

Moran's T&S Taverns lost €101m last year as interest bills rocketed and the recession got biblically miserable.

72. AIDAN HEAVEY

€ 122M OIL

What a career change! Aidan Heavey moved from accountant to maverick oilman, made a fortune, married a top model and got a Lamborghini.

His Tullow Oil stake is worth €85m. He was the top-earning Irish boss last year, with €34m between bonuses, options and stock awards.

73. CHARLIE KENNY

€ 120M PROPERTY

Commercial property owner Charlie Kenny's Clancourt Holdings is owned through a Jersey vehicle. The firm lost money last year according to the auditors — but that's all we know.

Previous figures had suggested net assets of about €203m. This may have fallen. Apart from office and retail premises, 74 year old Kenny owns forestry and leisure interests.

74. MICHAEL HERBERT

€ 120M FRIED FOOD

Belfast's Ferrari driving 51-year-old Michael Herbert owns Europe's largest Kentucky Fried Chicken franchise, through his Herbel restaurants, which generated profits of €4.3m last year.

He has 60 outlets in Ireland and the UK after a major expansion and also owns the Irish Haagen Daz franchise

He is also a major property owner, often naming projects after his glamorous wife Lesley. His Lebreh property firm had net assets of €126m in early 2008. This may have fallen substantially but Herbert did receive €5.2m in dividends over two years.

75. DAVID POWER

€ 120M BOOKIE

He's the Power bit of Paddy Power with a stake worth over €91m. The 62- year-old netted €14m selling shares and picked up dividends of about €7m in recent years. He remains an oncourse bookmaker.

76. BILL McCABE

€ 120M IT

Bill McCabe sold over €65m worth of shares in software company CBT Systems at the height of the boom. He re-invested the proceeds in property, technology and waste businesses, through his Oyster group.

77. BARNEY EASTWOOD

€ 110M BOOKIE

Bookie Barney Eastwood and his wife earned €133m before tax from the sale of their Eastwood bookmaking chain to Ladbrokes in 2008.

Eastwood has always been a boxing fanatic, having been introduced to the Queensbury Rules through the weekly boxing tournaments at a US airbase near his native Cookstown, Co Tyrone. By the late 1950s, Eastwood was running small boxing shows in Belfast and he is best known for having promoted the ‘Clones Cyclone’ Barry McGuigan, who went on to become the World Champion at Featherweight level in 1985.

Barney Eastwood also has property interests



78. THE KEATINGS

€ 110M FOOD

The Keating family, Liam, Niamh, Catriona and Stephen own Kepak, the Meath meat processing firm, which has nine plants in Ireland and the UK. Sales have topped €750m at the company.

Managing director Liam, 40, owns a helicopter.

The family were named as investors in the €412m Irish Glass Bottle site in Ringsend.

79. JOHN CLIMAX

€ 110M MEDICINE

Dr John Climax co-founded clinical research company Icon with Ronan Lambe. He holds a stake worth€55m and has sold around €45m worth of shares. He is an investor in Amarin and has been well paid.

80. DOLORES McNAMARA

€ 105M LOTTO WINNER

A €2 quickpick on July 29, 2005, changed Limerick woman Dolores McNamara's life. She won a €115m Euromillions jackpot, which had rolled over for an incredible nine weeks. The lump sum was taxfree.

When she won, she was working as a parttime cleaning lady at Limerick Youth Centre, but in the year 2000, she was working on the production line of a pharmaceutical factory.

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