independent

Tuesday 2 September 2014

Three Dundalk billionaires in rich list top ten

lyons, naughton and haughey on list

Olivia Ryan

Published 24/04/2013 | 05:20

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DUNDALK can now claim three billionaires, all featured in the top ten of Ireland's wealthiest people on the Sunday Times Rich List 2013.

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Leading the trio of euro billionaires is Dundalk native Pearse Lyons and family, who is ranked number six.

Lyons (68) founded the Kentucky based animal nutrition company Alltech, which operates in 128 countries and is valued at €1,082 million. His company also has a brewing offshoot which is involved in whiskey distilling in Carlow.

The Dundalk man has kept his family linked to the business, with his wife Deirdre overseeing Alltech - related design projects, and son Mark heading the China expansion.

He moved to Kentucky from Dundalk in 1976, but has maintained strong links with Ireland over the decades. He is currently behind plans to host a series of events as part of 'The Gathering 2013.'

Dundalk born Martin Naughton is the second local to have broken into the billionaires club, with a €1,022 million fortune. He is ranked number seven in Ireland's top ten richest people.

A De La Salle alumni, Naughton (73) owns Dublin based Glen Dimplex, the world's biggest maker of electric heaters.

His Newry based subsidiary Glen Electric saw profits fall in 2011-12, but Glen Dimplex continues to rake in huge profits, and is now valued at just over €1 billion.

Naughton is featured among the country's top 10 biggest risers in wealth, with a 24% increase on 2012.

Along with his main business interests, which his two sons are also closely involved in, Martin Naughton has a Co. Meath estates, an art collection, shares in Dublin's Merrion hotel, a wind farm and a shopping centre.

The Dundalk native is also recognised for his considerable philantrophy, and is reported to donate around half of his earnings to various charitable causes.

Edward Haughey, now Lord Ballyedmond, is the third billionaire with Dundalk roots to feature in the Top 10 richest people in Ireland. His wealth increased by 32% over the last year to €1,011 million, pushing him into the €1 billion club.

Born in Kilcurry, north of Dundalk, Edward Haughey emigrated to New York in the 1960s to work for a pharmaceutical company.

He returned home four years later, and founded Newry based Norbrook laboratories in 1969. It is now the largest veterinary pharmaceutical company in the world, exporting more than 80% of its products across the globe. The company employs more than 2,500 people.

He is ranked fourth on the country's top 10 biggest risers on the wealth scale over the last year.

Lord Ballyedmond also has a considerable property portfolio including a villa in Canoes, Corby Castle in Cumbria, and homes in Dublin and London. He also owns Ballyedmond Castle and estate in Killowen, County Down.

Beef baron Larry Goodman, and his wife Kitty came in at number 13, with their total wealth valued at €613 million, a rise of 23%, despite a difficult year for his Silvercrest subsidiary which lost key Tesco and Burger King contracts after horsemeat was found in its burgers.

Also featuring on the Sunday Times Rich List is Dundalk born George Moore, who made his fortune in the software industry. He earned €146 million for selling his 30% share of Targusinfo, a software firm he co-founded, when it was sold in 2011.

He is ranked 59th in the top 100 richest people in Ireland, with his current wealth valued at €158 million.

The Argus

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