Business Irish

Thursday 22 February 2018

Tech entrepreneur beats Conor McGregor to top spot in new entries for Ireland's Rich List

Mixed martial arts champion Conor McGregor is a new entry in this year’s Rich List with a €140m fortune. Photo: Getty
Mixed martial arts champion Conor McGregor is a new entry in this year’s Rich List with a €140m fortune. Photo: Getty
Samantha McCaughren

Samantha McCaughren

Conor McGregor has made his debut in the Sunday Independent Rich List – but has been beaten into second place in the list of highest new entries.

At 29, mixed martial arts champion McGregor is one of the youngest entries on the list with only a handful of people under 30 making an appearance.

However, with an estimated wealth of €140m, he is not the highest of the nine new entries on this year’s rankings.

He is beaten by a Dublin technology entrepreneur who is making a massive impact in the world of eCommerce.

While tech has delivered significant valuations for several upcoming entrepreneurs, new entries are making in the money in a wide range of areas such as food and beverages.

The common thread among the new wealthy has been an ability to find a niche in a fast- growing new area.

Conor McGregor goes toe to toe on stage in a mock brawl with entrepreneur Richard Branson at the Pendulum Summit 2018 in Dublin yesterday. Photo: Conor McCabe
Conor McGregor goes toe to toe on stage in a mock brawl with entrepreneur Richard Branson at the Pendulum Summit 2018 in Dublin yesterday. Photo: Conor McCabe

The top ten entrants in the Rich List 2018 increased their fortunes by over €2bn in total over the past year.

The ten wealthiest have a collective estimated worth of just over €50bn compared with €47.9bn in the 2017 Rich List.

The richest family on the list is relatively unknown to most people but the Mistry family comfortably tops the rankings with estimated wealth of €15.6bn.

Based in India, Patsy Perin Dubash was born in Dublin and married one of India’s richest man, Pallonji Mistry. He and their adult children all hold Irish passports. Their wealth comes from a large stake in Tata, one of the world’s largest conglomerates.

The second entry on the list is the Weston Family, which owns Brown Thomas and Arnotts in Dublin. Former model Hillary Weston married Galen Weston, who is part of an extremely wealthy Canadian family.

Private equity mogul John Grayken is third on the list. The American founded so-called vulture fund Lone Star and holds an Irish passport.

Fourth on the list is Denis O’Brien, the Cork born and Dublin raised communications billionaire. His main business is Digicel, a telco with operations in the Caribbean and Asia Pacific. O’Brien, who is a shareholder in Independent News & Media, is now estimated to have amassed wealth of €5bn.

The final entry into the top 5 is Pearse Lyons, the founder of animal nutrition business Alltech. He started his career at Harp Lager in Dundalk and now employs 3,500 people.

The full Rich List, which charts the financial ups and downs of the country’s 250 wealthiest people, is published only in today’s Sunday Independent.

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