Ireland's 100 richest worth ?23bn
THE 100 wealthiest Irish people's combined fortune is worth a massive proportion of all economic activity in the country.
The Sunday Independent 100 richest - from Michael O'Leary to Michael Flatley - are worth over ?23bn, the equivalent of one fifth of Ireland's GDP.
By contrast, the 100 richest Americans, lead by Microsoft's Bill Gates, are valued at just one twentieth of all US economic activity.
The 10 richest people in Ireland are each sitting on an average fortune of ?800m. The average industrial worker would have to bank his or her entire ?27,000 salary every year for 30,000 years to amass the same wealth.
The list of Ireland's richest 100, published in this week's Sunday Independent Life magazine, shows that interests as diverse as dabbling in Manchester United shares and lording it up on the dance floor are enough to secure a place among the superwealthy.
JP McManus, fourth on the list, is valued at ?790m.
And if buying millions of pounds worth of shares in Manchester United with partner John Magnier was simply to settle a dispute about a horse, then the fight was worth picking with Sir Alex Ferguson.
If the pair sold their stake tomorrow they would bank ?105m clear profit. That alone would put each inside the top 100.
Ranked just below McManus in fifth place are the four members of U2, with a combined ?750m fortune.
However, hot on their heels is the man who once boasted the quickest tap-dancing feet in the world - Michael Flatley. The 45-year-old's legs were once insured for ?37m. Not known for his modesty, he now claims to be worth over ?0.5bn. We value Flatley at ?425m.
This puts the Lord of the Dance millionaire just outside the top 10, which is topped by Sir Anthony O'Reilly. His fortune is estimated to be ?1.3bn, thanks, in part, to significant gains in his core shareholdings.
Sir Anthony O'Reilly, said to be the biggest private holder of stock on the Irish market, also counts a bloodstock and cattle-breeding farm at Castlemartin as a major asset.
He is joined by eight other men in the top10, the only woman being Dunnes Stores chief executive Margaret Heffernan whose ?490m fortune places her ninth.
Completing the top 10 is Ryanair's Michael O'Leary who, despite loosing ?70m on paper, is still valued at ?470m.
Ireland's richest sportsmen and entertainers are ranked in separate lists. Formula 1 millionaires Eddie Jordan (?112m) and Eddie Irvine (?82m) are the only sportsmen who also make it into the top 100.
The entertainers do better, with U2, Michael Flatley, Moya Doherty and John McColgan, Enya and Van Morrison all featuring in the main list.
However, our list of Ireland's 100 richest is dominated by businessmen who are self-made millionaires and by figures from family firms such as Dunnes Stores, Roches Stores and Superquinn.
