RICH LIST: Mirror, mirror on the wall who is still the richest of them all?
OVERALL wealth of the top 10 East Anglian tycoons has dropped by 26 per cent in the last year. The figures, released today, show the amount owned by the top 10 has fall more than �1.7 billion in the past year from �6,752 m to �5,014m. The Sunday Times dis
OVERALL wealth of the top 10 East Anglian tycoons has dropped by 26 per cent in the last year.
The figures, released today, show the amount owned by the top 10 fell by more than �1.7 billion in the past year from �6,752 m to �5,014m.
The Sunday Times discloses the fortunes of the East Anglian wealthy in their 2009 Rich List.
At number one is Kirsten Rausing whose fortune derived from her father's global packaging empire keeps her at the head of the East Anglia Rich List, according to The Sunday Times Rich List 2009.
You may also want to watch:
In all, there are 27 people from East Anglia (up from 23 last year) in this year's Sunday Times Rich List, which is published this Sunday, April 26.
Kirsten Rausing, who owns two Suffolk stud farms, might (jointly with her brother Jorn) be worth �1 billion less than this time last year, but she is still three times better off than anyone else in the region.
- 1 Council to report 'accumulations of tributes' to police
- 2 'I lived in the woods' - Suspected murder victim reveals five year ordeal
- 3 Videographer captures lifeboat hoist at town boatyard
- 4 Fenland line-up for Cambridgeshire elections
- 5 Businesses across the Fens reopen as lockdown restrictions ease
- 6 Hughes Electrical re-open Monday at Wisbech and Ely
- 7 Spectators to be 'kept well away' when 85m chimneys come down
- 8 Cafe boss throws hat in the ring for county election
- 9 Five year mystery of what happened to modern day slavery victim
- 10 Covid cases down at Norfolk hospital, but concerns remain over roof
Her father, the late Gad Rausing, helped develop the Swedish Tetra-Pak group that acquired Alpha Laval in 1991 to form Tetra Laval.
The Switzerland-based company had more than �10 billion of sales in 2007, according to the most recent accounts.
However, the group's assets have fallen sharply in the past 12 months, leading to a cut in the value of the Rausing family's stake in the business from �7 billion to �5 billion. Kirsten and London-based Jorn own about half the family holding, leading to the �1 billion cut in their joint valuation in this year's Rich List. Despite the fall, the pair rise five places in the UK rankings to 9= this year.
The Guinness family retain a �200m stake in Diageo, which owns the Guinness brand.
The Irish stout was first created by the 4th Earl of Iveagh's forbearer Arthur Guinness. Iveagh, 39, completed the Dublin marathon last year dressed as Arthur the Toucan, the long-established marketing symbol of the drink.
Iveagh's 22,486-acre Elveden estate in Suffolk is the largest working farm in Britain and the family has substantial further land holdings in Vancouver, Canada worth �400m, which is held by their British Pacific Properties business.
With other assets, the family are valued at �750m this year, a drop of a relatively modest �80m in a year where many in the Rich List have measured their losses in hundreds of millions.
The 1,000-acre Cheveley Park stud, in Newmarket, is one of the top racehorse breeding operations in the world and is owned by David and Richard Thompson, who remain in third place on the East Anglia Rich List, while climbing 34 places in the UK rankings. Former Smithfield meat trader David, 73, and son Richard, 44, have substantial assets in the food and retailing sectors.
The family fortune is founded upon the Hillsdown food group, stakes in which have been sold over the years to raise about �290m.
The demise of Woolworths has hit Ardeshir Naghshineh hard. The Norwich-based property tycoon held a 10% stake in the failed business and felt the retailer could have been saved.
Naghshineh, 56, founded his Targetfellow property group in 1992. The latest net assets figure for the company is �329m and there is a further �30m in his smaller businesses. Losses from Woolworths cut his valuation this year to �320m, down more than a third from �500m last year.
Other big fallers this year include Bernard Matthews (ranked 12= in East Anglia and down 47%) and Andrew and Sharon Turner (ranked 16= and down 63%). Bernard Matthews Holdings is valued at �80m this year and a further �25m is added for other Matthews assets.
The 79-year-old turkey producer announced job cuts at the Norwich-based business in January, but he is looking to build nine huge wind turbines to help generate electricity for his East Anglian farms and factories. The Turners fall more than 250 places in the UK Rich List after a cut in the value of their Central Trust Insurance Brokers in Norwich.
The Rich list now values the company at �90m and we add �5m for other assets owned by Andrew, 50 and his wife Sharon, 51.
The 21st annual Sunday Times Rich List - the definitive guide to wealth in Britain and Ireland - is published in a special 112-page supplement, which profiles the 1,000 richest people and families in the UK.
The list is based on identifiable wealth (land, property, other assets such as art and racehorses, or significant shares in publicly quoted companies), and excludes bank accounts (to which the paper has no access).
This year, it takes a �55m fortune to make it into the top 1,000 in the Rich List, �25m lower than last year's �80m qualifying, the first time the threshold has fallen since 2003.
The Sunday Times Rich List 2009 is compiled by Philip Beresford, the leading authority on British wealth, and edited by Ian Coxon. Beresford, who has a Phd in politics from Exeter University, edited Management Today before taking up wealth tracking full-time.
HERE'S THE EAST ANGLIAN RATINGS.
Rank, Name, Category, 2009 national rank, 2008 national rank, 2009 wealth, 2008 wealth, Change in wealth
1, Kirsten Rausing*, Inheritance and investment, 9=, 14, �2,500m, �3,500m, Down 29%
2, The Earl of Iveagh and the Guinness family, Brewing and property, 52=, 92=, �750m, �830m, Down 10%
3, David and Richard Thompson , Food and horse racing, 123=, 157, �430m, �503m, Down 15%
4, Ardeshir Naghshineh and family, Property, 167=, 158=, �320m, �500m, Down 36%
5, Dr Mike Lynch, Software, 238=, 323, �235m, �252m, Down 7%
6, Edward Atkin, Babycare products, 242, 356, �232m, �232m, No change
7, Douw Steyn and family, Finance, 274=, 397=, �200m, �200m, No change
8, Gregory Darling and family, Shipping, 438=, 644=, �120m, �120m, No change
9, Brian DeZille and family, Knitware and health clubs, 474=, 614=, �115m, �128m, Down 10%
10, Paul Day and family, Haulage, 490=, 480=, �112m, �172m, Down 35%
11, Hermann Hauser, Computers, 507=, 696=, �107m, �117m, Down 9%
12=, Robert Carter and family, Construction, 510=, 516=, �105m, �155m, Down 32%
12=, Robbie and Cheryl Cowling, Recruitment, 510=, 759=, �105m, �105m, No change
12=, Bernard Matthews , Turkeys, 510=, 547=, �105m, �146m, Down 47%
15, Andrew and Paul Gower, Computer games, 566=, 746=, �99m, �109m, Down 9%
16=, Bill Gredley and family, Property, 575=, 550=, �95m, �145m, Down 34%
16=, Andrew and Sharon Turner, Finance, 575=, 320=, �95m, �255m, Down 63%
18, David Allen , Caravan Parks, 657=, 924=, �85m, �85m, No change
19, Robert Palmer, Oil services, 751, New entry, �75m, -, -
20=, Brian Howard and family, Property, 782=, 1,197=, �72m, �65m, Up 11%
20=, Michael Marshal and family, Industry, 782=, 879=, �72m, �90m, Down 20%