Wednesday, 25 November 2015

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Lord Ballyedmond sees fortune grow by £60 million in year

Financial fortunes are reportedly on the up for Lord Ballyedmond, the owner of Corby Castle at Great Corby.

Lord Ballyedmond photo
Lord Ballyedmond

The Sunday Times Rich List 2010, published yesterday, says his estimated wealth has grown by £60 million over the last 12 months and now stands at £500m.

He is now in joint 132nd place, down from 120th last year, on the annual list of Britain’s 1,000 richest people.

The owner of the Norbrook Laboratories pharmaceutical firm is also ninth on the list of Ireland’s 250 richest people.

His entry reads: “Ballyedmond, 66, owns the Newry-based pharmaceutical company Norbrook Laboratories, which last year unveiled a medical treatment it claims could revolutionise cattle farming by eliminating parasites. Norbrook is worth £300m. Ballyedmond also has big property and land interests.”

The boss of the Borders-based Edinburgh Woollen Mill, Philip Day, has seen his fortune rise by £260m to £300m, a jump of 1,119 places on the Rich List.

Their growth in wealth reflects the trend on this year’s Rich List in which the fortunes of the UK’s super-rich have seen a remarkable recovery in the last 12 months in the wake of the economic crisis.

In just a year, the collective wealth of Britain’s 1,000 richest people increased by 30 per cent, according to the survey. Their combined wealth rose by more than £77bn since 2009 to £333.5bn, the biggest annual rise in the list’s 22-year history.

Last year’s list showed how the economic crisis wiped £155bn from the wealth of the UK’s richest people. Other figures from this region featuring this year include The Duke of Buccleuch, one of the country’s largest landowners, and Richard Rose Federation academy sponsor and Kingmoor Park owner Brian Scowcroft.

The Duke of Buccleuch is at 354th place along with a dozen others. The estimated fortune of £180m is the same as last year but the ranking has gone down from joint 309th place in 2009.

Brian Scowcroft and his sister, Janet Lefton, slip 55 places down the list but retain their £160m fortune and they are now one of 15 entries at joint 405th place, along with Dragons’ Den star Theo Paphitis.

Stobart Group bosses Andrew Tinkler and William Stobart are at joint 957th place. Their fortune has risen from £52m last year to £68m.

West Cumbrian teenager Ianthe Fullagar is one of the 50 richest young people in Britain. The 19-year-old from Ravenglass is joint 27th, up from 60th last year, after scooping a £7m share on the EuroMillions jackpot in 2008.

Steel tycoon Lakshmi Mittal and his family remain top of the Rich List with £22.4bn and Roman Abramovich, the owner of Chelsea Football Club, was second with £7.4bn.


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