We've dramatically reassessed the wealth of Coolmore Stud's John Magnier (68) this year. Insiders suggest that he is worth far, far more than previously estimated.
Most of Magnier's wealth - along with that of his close associate and buddy JP McManus - is from the bond markets, buying and selling government and corporate bonds.
There are very few footprints, but Magnier is widely believed to have made a killing when the Mexican peso devalued in 1994. The Cork-born entrepreneur made millions from industrialising the bloodstock sector at Coolmore, boosted by equine Casanova Sadler's Wells.
Most recently Magnier was part of a consortium that spent €65m to buy the Curragh racecourse. He is understood to have been one of the bigger beneficiaries of the €1.1bn sale of London City Airport in 2006 and raked in large dividends from UK nursing home group Barchester, which paid €520m to its shareholders.
Magnier also co-owns an 18pc stake in €1.8bn-valued M&B, Britain's biggest pub group. Shares have tanked over the last year, however, dropping 30pc. There is an extensive blue chip real estate portfolio including a €30m beach front pad in Marbella, which was once rented to David Beckham.
He also has a stunning art collection, including a €70m Modigliani painting and a €25m Sir Joshua Reynolds portrait.