Original article News - Property fuels Irish rich list
A Ballymena-based property magnate is Ireland’s highest new entry on the Sunday Times Rich List.
Sam Morrison’s firm Corbo Ltd has thrived thanks to Northern Ireland’s property boom, the paper said.
It “conservatively” estimated his fortune at 350m, putting him joint 214th overall and 26th on the Irish list.
County Fermanagh united property insurance Sean Quinn and family remain second on the Irish list, with a fortune of 3,050m.
They are joint 12th on the overall list, with interests including property, quarrying and insurance.
The paper says property prices are one reason why County Antrim brothers Kevin and Michael Lagan have leapt up the Irish list from 47th to eighth with a fortune of 928m.
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IRELAND’S RICH LIST
Hilary Weston and family (retailing): 4,089m
Sean Quinn and family (quarrying, property and insurance): 3,050m
Sir Anthony and Lady O’Reilly (food, media and inheritance): 1,672m
Denis O’Brien (mobile phones and investment): 1,493m
Dermot Desmond (finance: 1,400m
John Dorrance (inheritance): 1,390m
Tony Ryan and family (airline): 1,010m
Kevin and Michael Lagan (civil engineering): 928m
John Magnier (bloodstock and property): 723m
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Their firm Lagan Holdings is set for a 50m profit in 2006-2007, according to the paper.
Gerard O’Hare, who via Parker Green Insurance insurance liberty property owns the 120m Quays shopping and leisure complex in Newry, has commercial property assets of 308m, putting him 28th on the paper’s Irish list.
The paper attributes Northern Ireland house price rises to Londonderry-based builders Taggart Homes doubling its value, giving its owners John and Michael Taggart a value of 115m.
A veteran of the list, Eddie Irvine has invested wisely following his 40m Formula One career, and the paper says he has 150m, including a motor yacht, citizen property insurance corp properties and a number of Dublin bars.
However, it has cut his worth by 10m from last year because of the stalling US property market.
Singer Van Morrison is joint 173rd on the Irish list and the fourth richest Irish entertainer with a 51m fortune.
The paper says Michael Flatley has a 377m fortune
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Katie Melua may be some way off this sort of cash, but with 8m in earnings, the 22-year-old is joint 15th on the paper’s list of the richest Irish people aged 30 and under.
The singer moved from the former Soviet republic of Georgia to Belfast at the age of eight when her father got a job as a surgeon at the Royal Group of Hospitals.
U2 are the richest Irish entertainers, but their 487m fortune only puts them 20th on the Irish list.
Second and third are property and casualty insurance marketing Lord of the Dance Michael Flatley, worth 377m, and singer Enya who has 77m.
They all have some way to go to catch Hilary Weston and family, whose 4,089m wealth puts them top of the Irish list.
The former model is married to allstate casualty insurance property owner Galen Weston, who is Canada’s second richest man.
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