Tuesday 20 March 2018

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.

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