Farm Ireland

Wednesday 24 January 2018

Farming plays major role in latest rich list placings

Declan O'Brien

Declan O'Brien

The Irish rich list for this year may be headed up by an Indian industrialist but the farm sector was well represented in the top 300.

Pallonji Mistry comes in at the top of the list with a personal wealth of €6.2bn, but the Indian-born construction mogul has no farming connections.

Agricultural links to the list are kicked off with bloodstock magnate John Magnier.

The Coolmore Stud boss is ranked as Ireland's 10th wealthiest man with a personal fortune of €1.02bn.

Fellow horse racing guru JP McManus comes in at 13th place with an accumulated wealth of €885m, which was up €250m on the previous estimate.

The real rich list for farmers gets going at 15th place with Larry Goodman. Estimates of the beef baron's wealth have doubled to €745m, up almost €320m from the previous calculation.

Goodman has substantial property investments but the cash cow of his business empire continues to be his AIBP meat processing operation. AIBP remains the largest beef processor in Ireland and Britain.

In 30th place is the owner of Slaney Foods, Bert Allen.

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As well as Slaney and Linden Foods, Bert and Maurice Allen made some of their fortune through the Bewleys Hotel group and have also developed a wind farm on the Wexford coast.

Dundalk native, Pearse Lyons, comes in at 46th on the list with €200m on the back of his firm Alltech.

Meanwhile, Peter and John Queally are valued at €190m, with their Dawn Meats group delivering the bulk of their wealth. Beef barons also make up the 72nd and the 84th places on the list, with the Keating family of Kepak fame and the Dobson brothers of Dunbia.

The Keating family is worth €115m, while the Dobsons' empire is valued at €105m.

In 179th place on the list is the former Kerry Group chief executive Denis Brosnan with a personal wealth of €46m.

Galway merchant Thomas McDonogh was in 205th place on the list with €40m, while Wayne Acheson of Foyle Meats was in 215th place with €39m.

The Earl of Erne wraps up the list from a farming point of view in 227th position.

The earl, who lives in Crom Castle, Fermanagh, is a major land owner in the North, despite have donated 1,500ac to the National Trust. He is on the list with a personal fortune of €36m.

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