Ireland’s wealth continues to defy gravity in its upward march. This year, we have been able to raise the threshold sharply for the 250-strong list from £16m to £24m. The Irish list, on pages 87-97, is a unique look at an all-Ireland economy, combining the republic and Northern Ireland. The number of Irish billionaires continues to rise with Sean Quinn, the Co Fermanagh-based aggregates-to -insurance tycoon, seeing his wealth rise from £810m to £2 billion. But the Irish list is still headed by Hilary Weston, with a £4,700m family fortune from retailing. In total the 250 in the Irish list are worth a staggering £35.02 billion, up 18.1% in a year.
The number of women in the top 1,000 has fallen this year with 75 against last year’s record haul of 80. By raising our bottom line to £60m, we have disenfranchised several women entrepreneurs worth £50m to £60m. Despite the fall, women are making their mark in the City, with the likes of Elena Ambrosiadou, Nichola Pease and Jayne Sutcliffe proving they can be as astute fund managers as their male counterparts in what remains an intensely macho world. But it is frustratingly slow progress breaking that glass ceiling.
The top 100 in the young rich list of those aged 30 and under is, as ever, dominated by the worlds of fashion, film, football and pop. There are a record 29 footballers, led by Real Madrid and England’s David Beckham (in at £87m with his wife Victoria) but mainly drawn from the four elite clubs as present or past players: Chelsea, Manchester United, Arsenal and Liverpool.
Of the footballers, United’s Wayne Rooney is the biggest riser: with girlfriend Coleen McLoughlin also making a handsome income, the pair have seen their wealth rise from £6m to £20m. Rooney, at just 20, could be the one footballer to rival Beckham and make it to the main Rich List, especially if he helps deliver the World Cup this summer.
Karen Elson is the new leader of our nine models in the young rich. She is the new Mrs Jack White, having married the White Stripes star last year. Her husband also just qualifies for our list on age grounds and we reckon their combined fortune should be £20m. But business wealth is now in evidence among the young rich, too, as budding entrepreneurs such as Steve Bell (£45m) and Andrew Gower (£32m) make their mark in internet or high-tech areas. The youngest person in the young rich list is 16-year-old Daniel Radcliffe, who plays Harry Potter in the series of films. His fortune is £14m and rising. No worry about paying back a university loan there then.
Continuing millionaire munificence will depend, of course, on a continuing feelgood factor among the rich. Remarkably, the recent shocks over oil price rises, continuing tensions in the Middle East and worries about property markets overheating have done nothing to diminish investor confidence worldwide. The rich, too, have little to worry about from new Labour making life uncomfortable. Recent revelations about party loans and rich donors show that relations between the Blair government and the rich are among the cosiest on record. And given the importance of the overseas billionaires in propping up luxury London and the southeast, don’t expect any government tax crackdown on them.
